WP's housing proposals amount to crashing sector

last SG · 2011-04-24T17:15:26+00:00

Don't forget it's 99 year lease horYour grandchild will not have a HDB liao for them to inherit and the Government will do a force enbloc and pay you 50k f...

Rock^Star SG

Next thing they tell you is voting the opposition into parliament will destabilise the economy and the S$ will drop, resulting in more inflation.

Watch our for more threats.

Elite Hitman SG

after reading his hame,,,,mahbowtan…i didnt bother bout readin the rest of his essay.

SevenEleven SG

I dunno how come ppl care so much abt property price when it's only a place to live..

you'll be surrprised how split the ground is on this matter

Icerage SG

bully or threaten us n WE u show u the door, mah

Rock^Star SG

I have got friends telling me their property price is rising and they're so happy about it. Yeh your asset value goes up, that's cause for celebration right? But your asset goes up, everywhere else is the same too. How to profit? And making 100k of profit is no big deal these days, with the high costs of living.

Alternatively, many young sgporeans have thought of liquidating their HDBs when they reach retirement. No way the govt will allow that, when those young sgporeans reach retirement age, their HDBs are probably in the region of $2m each? How is the govt going to allow billions of $$ to deplete from their coffers just like that?

sbst275 SG

can't blame their mindset

because of how the way they're taught in skool.

charlize SG

Sell already stay where ?

HDB void deck ? Set up tent at ECP ?

tranquilice SG

Sell already stay where ?

HDB void deck ? Set up tent at ECP ?

Stay at old folk homes in JB.

Elite Hitman SG

mebbe get abducted by space aliens.

mancha SG

The government don't buy flats.

You may not have the money to buy the $2mil HDB flat, but other Singaporean have.

Who do you think paid more than $750k for an HDB flat?

Clivebenss SG

mbt get tumbled into the vicious cycle of asset inflation.

Rock^Star SG

Sell already stay where ?

HDB void deck ? Set up tent at ECP ?

Can sell....see whether after years of staying 5 rm, willing to go into pigeon hole of 3 rm lor.

Rock^Star SG

The government don't buy flats.

You may not have the money to buy the $2mil HDB flat, but other Singaporean have.

Who do you think paid more than $750k for an HDB flat?

Of course sell flat and give up citizenship la.....otherwise how to get back all that CPF lui?

Thethinker6 SG

In the 1970s, our forefathers have done the right thing for us -- vote out those ministers and MPs who did not benefit the people. As a result of this good karma, we have a prosperous Singapore. Now in 2011, are you going to selfishly think of your own housing value and upgrading, or are you going to think of your children's future? If you think of your children's future, then you should make sure bad ministers and MPs are not voted back into the parliament. Please do Singapore a favor and make sure ministers like Mah Bow Tan do not get back into parliament and continue to damage you and me.

It is not about how strong the opposition team in your GRC is. It is not about whether you will get your covered walkway. If you have to walk frustrated every day, even the covered walkway will not make you happier. It is ALL about making sure bad ministers and MPs do not return to parliament to harm people. Remember this! Please!

SingaporeTyrannosaur SG

Some pple actually believe that, talk to anybody from the old, comfortable generation and they'll say that all the difficulties and disagreements they have the PAP policies aside, they still have this notion the moment the PAP loses power all the investors will flee Singapore.

So the only solution is to keep selling your life to them.

SingaporeTyrannosaur SG

Anyway MBT also didn't address the fact that the market is going to crash anyways and we're going to have a major problem on our hands the way things go. Housing gets so expensive to the point something's going to give... prices can't keep getting higher and higher it's going to reach a point nobody is going to buy... GG at that point.

Keen on u2000 SG

Point by point rebuttal to Mah Bow Tan. An intellectual midget with flimsy arguments? What happened to the best and brightest? Complacency!

1. Housing is not a make or break issue in this election

Shows you how disconnected Mah Bow Tan is from the sentiments on the ground. Housing is the single largest expenditure facing Singaporeans, Mr Mah. It is a key issue, especially given the housing policy has not been successful. Trust me if people are happy with housing PAP will state that housing is the key benchmark they should be judged by.

2. The most important issue is who can look after Singapore’s future

Singapore’s future? Foreigners in Singapore’s future? Or Singaporean’s future? If one has gotten it wrong on housing, foreign talent, wages in the past, what makes him think they will get it right in the future? Mr Mah’s track record in housing isn’t great, no?

3. WP’s housing proposals are “raiding the reserves” / PAP’s are not

The PAP’s “Grow and Share” package is from current reserves, and hence according to Mah it doesn’t constitute raiding the reserves. I must be stupid, but doesn’t current reserves eventually flow into “past reserves” after time? I am sure that WP’s proposals can be structured to affect only funds from current and future land sales, which will also affect current reserves only, and will not have to dig into past reserves. Easy solution!

4. Mr Mah boasts “How many countries in the world can you buy a flat with zero deposits, other than in Singapore”?

Two points. Firstly, isn’t the money you pay for the downpayment that comes out of your CPF a deposit? Aren’t the monthly payments coming out of the homebuyers’ pockets also a flow of wealth / a payment – payments that can otherwise go into the homebuyer’s retirement or medical expenditures? Why does Mah make it sound like he is giving stuff away for free? Secondly, I know of another country where you could buy property with zero deposit. It’s called the USA – over there pre-Global Financial Crisis you can get 105% mortgages that can allow you to buy property and pay for the closing costs with no money down. I am not sure why he wants to follow the US, given what’s happening to the housing market there, or what is so good about getting a property with zero deposit if it means taking on a huge load of debt.

Question: What do you do to make low wage earners whose income isn’t growing feel like they can afford expensive things? Answer is simple: you give them cheap debt. A lot of it.

5. WP’s policy will crash the housing market

If the housing market’s fundamentals are strong, and if affordability is good, there is no reason for the market to crash.

Elite Hitman SG

me think mah bow tan will be bashed up after election. Smile

fymk SG

So the only solution is to keep selling your life to them.

Maybe someone should re-educate them. Investors only flee if the situation is highly unstable and volatile. British, Australians, Americans have a dynamic political landscape where one day, one party may come in and another time another party comes in.

So how unstable can that be? It's not like Singapore have guerillas and militias.

sbst275 SG

MBT can't solve the problem himself

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