Garment will cont to monitor hdb prices

[jim889]

last time 1973, 3 room at my place around 9k

avg wage probably 1k or less, even if it's 500 that is 18x only

1984 resale same place my parents bought 44k, i believe at that time probably new flats maybe 20+k only at further locations. average wage now should be 1k liao, so my parents paid 44x or less.

starting pay for grads maybe 1k?

until around 2008, it was maybe 150k at my place. avg wage my cousin got probably 3k at that time, so that's 50x. but as u can see still easily and relatively affordable. think fresh grad can get 2+k close to 3k


now my place is around 350k while avg fresh grad still maybe 3.5k. the lease has decayed to 50 yrs but prices still keep rising while avg wage and fresh grad wages never rise

seriously i really wish to refute this Desmond Lee in public

he in tough jod as price oredi increase

he just said wat ppl wanna listen

dun think he can do anythign.

touch one thing ,1 group happy , other group not happy.

touch another thing, another group happy but other group not happy.

never ending circle
-  

[Philipkee]

I think a problem would be the increased prices benefit the retirees so to cut it down would affect their retirement income or maybe affect the inheritance.

A bigger problem would be income is not rising as fast as property and such.

The best solution would be cheap BTOs like a $100k each that can be bought by ballot but when it is to be sold can only be sold back to HDB. It can be passed down to the children but if the children sells it still it must be returned to HDB at cost price plus a bit for inflation or minus a bit to account for the lease remaining.  But the property will not be used as investment or retirement income.

[jim889]

I think a problem would be the increased prices benefit the retirees so to cut it down would affect their retirement income or maybe affect the inheritance.

A bigger problem would be income is not rising as fast as property and such.

The best solution would be cheap BTOs like a $100k each that can be bought by ballot but when it is to be sold can only be sold back to HDB. It can be passed down to the children but if the children sells it still it must be returned to HDB at cost price plus a bit for inflation or minus a bit to account for the lease remaining.  But the property will not be used as investment or retirement income.

as long keep to the principle hdb is for staying not investment or retirement income then the price will be steady.

the problem is now hdb become asset enhancement.. one man's word "Your HDB home value will never drop"

[Arctic]

Well we all know what this means

Monitor = do nothing

[Philipkee]

as long keep to the principle hdb is for staying not investment or retirement income then the price will be steady.

the problem is now hdb become asset enhancement.. one man's word "Your HDB home value will never drop"

Not possible unless you don't own your flat meaning your sales price is controlled by the govt

[jim889]

Not possible unless you don't own your flat meaning your sales price is controlled by the govt

that's why all go back to rental. then problem solved
 

[Philipkee]

that's why all go back to rental. then problem solved
 

In before we are all renting for 99 years anyway .

[default]

I think a problem would be the increased prices benefit the retirees so to cut it down would affect their retirement income or maybe affect the inheritance.

A bigger problem would be income is not rising as fast as property and such.

The best solution would be cheap BTOs like a $100k each that can be bought by ballot but when it is to be sold can only be sold back to HDB. It can be passed down to the children but if the children sells it still it must be returned to HDB at cost price plus a bit for inflation or minus a bit to account for the lease remaining.  But the property will not be used as investment or retirement income.

true also, and new citizens and citizens who have dual citizenships/PR in other countries....... or former PRs/citizens who sell to go back msia/indonesia

this is just snowballing out of control. so now to help these retirees/going to be retirees make money from their 1m flat, then when it comes to our time will be 2m? and those newly born is 3 or 5m?

this is not at all sustainable

[Philipkee]

No easy solution unless the law is changed to say you don't really own your hdb (you can only sell back to hdb or resale only at a set price)

[jim889]

No easy solution unless the law is changed to say you don't really own your hdb (you can only sell back to hdb or resale only at a set price)

think is difficult.. there should be soome freedome for ppl to buy sell hdb..

the only solution they can do is to deal with supply
increase the supply of new flats
lower the pricing of new flats.

when ppl offer price for leesale, they can take into consideration of the price.
if there are many new flats avaliable for $100 why would they pay $200 or $300 for old flat?

ppl turned to resale market because there is a lack of supply of new flats. that's the problem.

if the market has alot of new flats. why will ppl turn to leesale
 

[Philipkee]

think is difficult.. there should be soome freedome for ppl to buy sell hdb..

the only solution they can do is to deal with supply
increase the supply of new flats
lower the pricing of new flats.

when ppl offer price for leesale, they can take into consideration of the price.
if there are many new flats avaliable for $100 why would they pay $200 or $300 for old flat?

ppl turned to resale market because there is a lack of supply of new flats. that's the problem.

if the market has alot of new flats. why will ppl turn to leesale
 

Increasing the supply of flats can work but it would mean that those who bought the flats believing the price will always go up will feel betrayed.

It's like you buy a lolex watch limited edition for investment and then after you bought it, lolex say it's no longer limited edition but mass market.

[default]

he in tough jod as price oredi increase

he just said wat ppl wanna listen

dun think he can do anythign.

touch one thing ,1 group happy , other group not happy.

touch another thing, another group happy but other group not happy.

never ending circle
-  

Coz the bigger group are home owners alr. But a substantial part of the pie are people who want to own homes.

Then the parents who own homes realise this problem also, so they are caught in the middle whether to vote for pap or not

[Philipkee]

think is difficult.. there should be soome freedome for ppl to buy sell hdb..

the only solution they can do is to deal with supply
increase the supply of new flats
lower the pricing of new flats.

when ppl offer price for leesale, they can take into consideration of the price.
if there are many new flats avaliable for $100 why would they pay $200 or $300 for old flat?

ppl turned to resale market because there is a lack of supply of new flats. that's the problem.

if the market has alot of new flats. why will ppl turn to leesale
 

Another consideration would be if supply increases and property prices crash, will those currently serving loans be affected by what top ups?  How would this affect the economy if there were margin calls?

So it's not so easy.


Plus cheaper homes will mean it's easier to start a family but it's by no means guaranteed it will happen.  Who wanna bet their career on something that will lose money in the short run and maybe no benefits in the long run?  Example would be if you tell management to spend $100k a year on staff retention.  Lose money but you retain good staff and company benefits.  What if you spent the $100k and staff still resign like before?  Same as square one but you are $100k poorer.  Takes a very confident leader to try this

[Philipkee]

Coz the bigger group are home owners alr. But a substantial part of the pie are people who want to own homes.

Then the parents who own homes realise this problem also, so they are caught in the middle whether to vote for pap or not

Cos there are three groups

Those who want prices to fall - those who want their children to be able to buy or they wanna buy

Those who want prices to rise - those who wanna sell

Those who want prices for their homes to rise so they can sell but prices of new homes to fall so they can buy - the ultimate CBK

[default]

Cos there are three groups

Those who want prices to fall - those who want their children to be able to buy or they wanna buy

Those who want prices to rise - those who wanna sell

Those who want prices for their homes to rise so they can sell but prices of new homes to fall so they can buy - the ultimate CBK

Every man for himself. So im angry at authorities.