You cant survive if you have to rent a HDB room. The cost of
living in our country has never come down - it is still one of the
highest in Asia. In fact it has gone up lately with recent GST
increase.
Why is the cost of living highest in singapore is probably
because we also have the highest income in Asia. BTW the earlier
fact about $50 for needy people is renting the whole apartment not
a room only.
Even if you can afford to buy OVERPRICED HDB apartment, bet you
will be working your whole life just to service your housing loan.
And the worst scenario for most of us is this - we become cashless
when we retire. Why? CPF minimum sum ruling, and settlement of your
HDB loans. The monthly CPF payment we get in our old age will not
see us retire decently !
Other cities in asia is worse. They need 2 generations to pay
for their housing. When u have succeed paying for your house, tat
house is yours. In another sense tat sum of money is still in your
hands.
Most of us are said to be asset-rich but cash poor. I beg to
differ on this point. Singaporeans are cash poor AND could possibly
end up asset poor as well. Can anyone guarantee the prices of HDB
houses will improve in 20 years time - or would prices dive to
record low then?
It has been stable for the past 30 years. It is unlikely it will
drop in future too since Gov probably know the problem of reducing
the price of it.
And the worst thing is this, downgrading HDB home to get cash
for retirement is only a dream. For most, downgrading equates
LOOSING money. Many Singaporeans will loose financially whether
they downgrade or upgrade. Who makes money ? - HDB & CPF of
course! That's why HDB has S$14 billion in the vault - OUR
MONEY!
Well.... Gov have 100 billion in foreign reserves too... tat is
our money as well. Maybe we should complain about it too... So the
question come whether should singapore have a reserve or not
?
Question - why didnt government control HDB prices to ensure
Singaporeans dont get burned in the pockets? If HDB can come out
with all sorts of laws governing HDB houses - they could easily
pass a law to cap HDB prices to ensure we have more cash for our
retirement.
Answer is... if they do reduce the money for HDB, they had to
increase tax in other forms to cover up their loss. They can easily
write a law saying every singaporean get a million each... but wat
is the repurcussion or effect ?
HDB started as a scheme to help Singaporeans housed affordably.
That objective was never realised today!
Well.... who is houseless now ? Comparing between cities our
housing is still affordable...
now one can gurantee 20 years later housing price willl keep
going up. basicially demand and supply. what causes housing
property to go up? when there lotsa buyer rushing to purchase. the
baby boom era has gone. ppl who purchase the HDB flats like 2-5
year ago are losing heaps of money now. will the good old days
return? i defer so, with birth rates ever so low who would be there
to buy your old housing 20 years later? demand will drop, unless we
get more indian and china PR to fill-in the gap. anyone notice in
mature estate these days, you cant really tell if you are living in
china/india or singapore.
As said demand and supply... If demand drops, HDB just have to
control supply by reducing building new HDB... Sad to say
population still increases in singapore due to migration...
govt dint control the price of housing, why? govt say they price
their new flats according to open market. but however i think open
market also price their housing base on new flats by HDB. the day
of lower housing cost will not happen, why? because if govt allow
so, all fellow singaporean will lose heaps of money and wash away
lifelong saving. country go bonkers, bankrupcy reach new high, bad
debts for banks record high. more financial impact. HDB will keep
new flats price at these level to keep the music rolling. roll from
our pocket to HDB Pocket.
Tat is right, so the price of HDB will not decrease anytime
soon. No one has the dream tat the price of HDB will decrease
anytime soon either...
