Are the Ten Thousands flats built in vain ?

last SG · 2006-03-08T22:05:30+00:00

else how those retrenched and reassigned to surbana could still receive their golden handshake? what's more distressing was that those retrenched were not su...

qpicanto SG

Some unsold flats to be dumped in the open market for sales.

Two room flats to be converted from unsold new flat in Jurong West st 93.
The lower income households are encouraged to buy and own a flat with a grant to buy the smaller flats. Rental flats are not encouraged.

Any comments Question

Yi Peng SG

As a consumer, I will rather to have an oversupply than a short supply.

macjoe SG

Rent better than buy. After all, "buy" is just expensive renting.

Idea

hisoka SG

dunno why must open market. cannot cut the singles a break and sell them the same way they sell to couples?

macjoe SG

HDB minister's report card is pretty bad. Time for a replacement.

qpicanto SG

The Irony :Many vacant flats sitting pretty with no monthly yields yet
many low income households are struggling to put food on the table and pay their rentals and mortgages.

Yi Peng SG

Are you suggesting that these flats be given out free to the poor who pay rent?

qpicanto SG

The numbers of low income households are enormous.
A $70K flat is one hundred times that of a menial workers taking home $700/-. After paying the utilities, transport and food very little is less for saving. Selling the flat 5 years later, would he be stuck . Can't rent or buy ?

qpicanto SG

Nothing is free in this world which is why the flats are rather left vacant for quite some time now that we begin to realise that, sadly the 2-room flats are now in demand.

Clementneil SG

It's pretty scary because I remember overhearing this conversation from a group of people the other day.
The guy was telling his friends that he went down to HDB and asked if he could get a flat.
They said no,as he didnt know if his father was still alive.
He's mom is dead and his parents wasnt officially divorced,but his dad had ran away quite a long time ago.
They then told him,his grandma could get a flat.
He asked if he could be staying with her and they said no.
Pretty scary,imagine you had an irresponsible father or mother and you don't even know who they are or where they are and you cant get a flat because of that.

Also,I believe housing is overly-priced here in Singapore.
There is an oversupply and all the housings too costly.

Atobe SG

Make up your mind - can paying rent be equated to the flats being given 'FREE' ?

Paying RENT is similar to paying INSTALMENT.

The only difference is that rental is paid to the home owner (HDB), who will continuously own it; while with each instalment paid, the payee gets to own that portion of the home that is already paid for.

Surely, HDB will want to pass the buck to the private bank to provide the sum of money for the Home Loan Scheme, and let the bank carry the burden of collecting it back in instalment from the Home Buyer over 10, 15 or 20 years.

Is HDB meeting its original social obligation in providing cheap housing to Singaporeans - by allowing the banks to charge high interest rates, and impose stringent mortgage rules to HDB purchasers ?

A "Salman" will always remain a "Salman" in whatever form - the "no brainer, one-liner" will always remain a 'hallmark'- and the 'no brainer' part is even more telling.

macjoe SG

We should just rent, not buy from HDB. "Buy" allows HDB to inflate the flat prices and households end up losing their CPF and borrowing excessively from banks.

Imagine the household who's been renting from HDB over 20 years. They would still have the CPF intact and no mortgage loan nightmares.

Right?!

Mr. Green

ndmmxiaomayi SG

The idea of encouraging them to buy flats is to give them ownership stocks. Just like your company will you a little percent of their stock if you do well.

Renting is discouraged because you don't own the flat. You can save a lot of money from buying a flat. Let's say you earn about $1500 per month. If you scrimp and save and you stay in rental flat, you probably have enough to migrate to other countries in 10 years' time. By making you buy the flat, you have to finish paying everything before you could do that. If not, I don't think you can migrate.

The government is indirectly keeping all Singaporeans in Singapore. Razz

alwaysdisturbed SG

nt too late to noe dat...

qpicanto SG

Stuck with nine over thousands vacant flats is really a challenge. Remind me of some unsold Woodlands flats many years back, 3-rooms no takers, later converted to “jumbo” flats. Until MRT comes along thing pick up.

SexyChin SG

My house super quiet, currently no neighbour beside me.

qpicanto SG

The recent announcement to fix the resales levy at certain amount. What u guys think whether it helps those in difficulties to downgrade ? Property consultant interviewed on TV said that such a move also help the clearance of the unsold flats. I doubt many people would pay cash upfront to move into a new flat if his financial situation is bad.

greengoblin SG

Adobe, I have gave him a warning. Perhaps you may like to tone down a little on personal attacks as well. Let's not feed trolls and keep the discussion in place?

Thanks for your help.

Yi Peng SG

You need to give Atobe a personal warning. Look at all his spamnming and personal attacks. He is spoiling the forum.

dragg SG

the excessive dumping will cause property prices to drop.

those with 5 rooms suffer the most. very irresponsible of the govt to do that.