Others   

Property bubble to burst soon

sound familar...heehee.... anyway i tin got to plus a maid, car also.... personally i am unable to save much but my wife still manage to save around $500 per mth... in long run, am abit worry for my children education fees thus no choice but to "seah hai" to play shares myself, rather playing fees to those so call fund manager....

Livermore      ( Date: 02-Apr-2010 00:15) Posted: A combined salary of $10k is not much for a young couple if you buy a property worth $700k and if you want 2 children. You aren't going to save much

 

A combined salary of $10k is not much for a young couple if you buy a property worth $700k and if you want 2 children. You aren't going to save much

 

i am fine with PR coming to singapore they wanna be permanant residents i welcome them...but what i cant understand is why the HDB earning ceilling cap is still peg at 8k (for new flat n hdb loans)Its been this amount since forever and come on now the flats are all getting more ex even the new ones. so how can they expect the people earning slightly more den 8 k can afford to pay for anything??Condo small unit 1 mil liao. 5 room flat over 500k .new flat can go as high as 280 290 k. count yourself lor. how is it possible to remain that price???Dun tell me EC cause EC who can afford now???600k new siao.

 

I say time to revise and up the earning cap. our money value is decreasing at an alarming rate. those who used to earn 8 k had a very luxurious life...now earn 8 k just enough to cover day to day expense. OKIE.

 

Don't think this will work. First, we knew very well that it's said that if you are not happy, you may just leave(migrant). Who said it, you should know by heart. Second, there are so many new immigrants(PRs who like here, why not, higher pay than home, less competition-like in big country-china.), plus certain amt of poor and certain amt of rich who have been benefitting and no complaints.

So the percentage of influencial citizen has shranked ........and you can imagine the weight of influence by them(citizenry!!)

pharoah88      ( Date: 01-Apr-2010 09:59) Posted: i am going to SHARE your ENLIGHTENMENT with my MP. so that Ministry of National Development & HDB can be asked to look into this CITIZENRY ROBBERY by fOreign tOlent. this mal-practice is UNtOlerable tO singapOreans. i hOpe every singapOrean can feedback this ENLIGHTENMENT tO ALL their MPs fOr them tO cOntribute tO ALL singapOrean in the REAL ACTION way. No use just having Debates and Readings in the PARLIEMENT. PS: no name will be mentioned. Only the CITIZENRY ROBBERY issue will be raised to the MP wongmx6      ( Date: 31-Mar-2010 21:55) Posted: Ya, PR should pay higher price, as i know many of them buy HDB then rent out the whole unit and live at JB.  The money from the rental is enough for them to support their House and Car at JB. S'pore Gov make some of the PR gain easy money.

 

that's why I said the foreigners come here to jerk up the price and govt just kept reminding us not to offer high cash but they allow those rich PRs to buy HDB, pretending that they don't know the cause of the recent record breaking HDB price, how ironic. Govt is able to do something if they want, so many things have been proven already. Just like the COE, announced that it would be increased by next month, it immediately happened the next month. If it cares about us, it may simply regulate that these are for middle class to stay and not more than certain cash above value is allowed. instead of asking we not to offer higher cash, those were offered by PR(not we). Well, well, am not govt, may be am too simple in thinking.

not to forget, nowadays a 4 room hdb's price is like the small apt/condo in the past, therefore I believe the young graduates have difficulty in affording ideal accomdation as before. think the different of $300k and $550k.............sigh!!

fishnet      ( Date: 31-Mar-2010 19:58) Posted: In the past, a 5 room flat cost around 300k. Now 550K! Quite Worried for my children..They might be paying 1mil for a flat..  Poor Sick ka porean. Salary didn't increase much... How to sustain...Ask OCBC?

 

whao, didn't have time to check this site for only 1 day. Just realized how much I miss all the anger we the citizens of Singapore have(the middle class, I suppose). hei, I like the hokkien vulgar word you used here, hardly heard nowadays. and as for Phao" Cheaployees ( a new slogan for this modern city). Do you know that everynight govt allows some homeless Chinachinese sleep in the underground crossway between the Esplanade park to Esplande opera house. I don't understand why for so long a time there wasn't police to arrest them. guess they have already make it their home--why not bigger than 6 room flat and all chicly marbled, no rental, no hassel(cum there is no police hasseling them).........such is a "good" way to look upon switzerland for an example(ever mentioned by our heads).

Singapore is like montecarlo, attracting all the rich to jerk up the property price to an extend that we can't recognise anymore.

Well, will spend the good friday to good through all the posts and have some laugh. haleluya!!! happy holiday!!!

knightrider      ( Date: 31-Mar-2010 17:08) Posted: So you heard Vivian Balarishna say : "The gov will take care of you, everyone of Spore citizen will have something over their head, and if you are poor, they will even deliver foods right to your door steps ! " I listen, I don't know want to laugh or what, something to cover over your head- he refers to HDB (rented flats, 1 room and 1 toilet), foods deliver to your door steps - he refers to can food and maggie mee. So you see, so good our Gov take good care of the poor ! But kan lin nia, how about those sandwich in the middle, Not the rich and not the poor. Until today, they still did not get the message, the middle class is the one neither here nor there !!! It is the middle class that are so inbalance, neither end can reach. For those poor, they are so poor already accepted their faith, and not mentioned the rich and famous one. Na bai.

 

In facts, many already know what is happening in the property market if not all in regard to the pricing. Need not have to "blah blah" here too much. 

THIS IS A PUBLIC FORUM.

BE CAREFUL, DIE ALREADY ALSO DO NOT KNOW WHAT  HAD HAPPENED!!!

niuyear      ( Date: 01-Apr-2010 18:18) Posted: you are right, better dont 'bleh' too much, this is public forum, sensitive topic.  Think better keep mouth shut!  Tks for reminding. Wait i on the road also dunno how i die.   LOL! Livermore      ( Date: 01-Apr-2010 17:48) Posted: I have got lots to say but this being a public forum I shall just keep quiet

 

Hi Knightrider, you are right prices are escalating at a fast and furious pace. Its like a game called "Musical Chairs". Just do not be caught in it without a chair. Good to know that you and your friends are making money in this market. I am however, moving at snails pace in the market. Like to buy and hold for rental return.

 

you are right, better dont 'bleh' too much, this is public forum, sensitive topic.  Think better keep mouth shut!  Tks for reminding. Wait i on the road also dunno how i die.   LOL!

Livermore      ( Date: 01-Apr-2010 17:48) Posted: I have got lots to say but this being a public forum I shall just keep quiet

 

I have got lots to say but this being a public forum I shall just keep quiet

 

2nd generation PRs have to do NS ! So no escape unless they leave spore for good.

 

When there's enough grateful PRs who can convert to citizens, they won't even bother to please the local-born citizens to get their votes. No enough citizens to be enlisted into NS? Nevermind, can import warriors from Nepal.

 

Being a PR in any country, is never a  win-win situation.   Since they want to become one country's PR, at the same time, retain their citizenship of their country of origin, they have to be financially sound in order to meet the great demand holding the PR status.

A no of PR got married to PR and their kids do not need to serve NS!

Luostock      ( Date: 01-Apr-2010 16:07) Posted: The problem will not be solved by banning Pr from buying as our country needs them bcos we do not produced enough babies (must think long term). It is the HDB. Last decade, HDB over-built, this time under-built, poor estimation. The 5% & 8% control is already a deterrent, if we are too unfriendly, we will lose out globally. The medical and educational cost for them and their children are going to be big deterrent esp medical. Some of them will become citizen to overcome these deterrents. Look at the COE, again poor statistical estimation. So let us hope HDB wake up, stop acting like private developer.

 

In  TRULY  COMPETITIVE  OPEN  SECTORS, 

PRICES can NEVER  RISE.

AND  FOREVER  FALLS.

when  SUPPLIES are  NOT  MANIPULATED  AND  SQUEEZED

E.g. PCs;  TVs;  Consumer Electronics,  Garments,

       FREEHOLD  LANDED  HOMES in  JB

 

In   MANIPULATED  UNCOMPETITIVE  TWISTED SECTORS,

PRiCES  WiLL  SURGE 

when  SUPPLIES are  PURPOSELY  RESTRICTED  and   DISTORTED.

E.g.  Properties,  Land,  COEs,  Medicines, 

 

Luostock      ( Date: 01-Apr-2010 14:07) Posted: Changing to a smaller unit does NOT mean downgrade. Old folks do not have the energy to clean a big unit. Smaller unit can be also tastefully comfortable. No rising valuation means losing to inflation as all other things will rise to about double the price in 10 yrs time.

 

The problem will not be solved by banning Pr from buying as our country needs them bcos we do not produced enough babies (must think long term). It is the HDB. Last decade, HDB over-built, this time under-built, poor estimation. The 5% & 8% control is already a deterrent, if we are too unfriendly, we will lose out globally. The medical and educational cost for them and their children are going to be big deterrent esp medical. Some of them will become citizen to overcome these deterrents. Look at the COE, again poor statistical estimation. So let us hope HDB wake up, stop acting like private developer.

 

Well Said in your last statement.


May be should band the PR from buying out public HDB flat which is for the citizen. 

When LKS started HDB in the 1960's, it is meant for the Singaporeans.

 

Our painful experience is that during the asia financial crisis, the property price had slump more than 25%. With the groble financial crisis it had ironically more up by more than 30%.

I agree that it is really cause by the government who had control the land sale and building less new HDB flat that cause the demand to go up.

May be should band the PR from buying out public HDB flat which is for the citizen.

 

 

Changing to a smaller unit does NOT mean downgrade. Old folks do not have the energy to clean a big unit. Smaller unit can be also tastefully comfortable.

No rising valuation means losing to inflation as all other things will rise to about double the price in 10 yrs time.

 

In  RETIREMENT, RETIREES  should  nOt  dOwngrade

STANDARD OF  LIVING.

RETIREES'  HOMES  should  nOt  be  dOwngraded.

RETIREES  should  LIVE  in  same  HOMES till  they  LEAVE.

RETIREES  should  LEAVE their HOMES  as  LEGACY.

OWNER-OCCUPIED HOMES  should  not have 

RISING  VALUATION  and  RISING  PROPERTY  TAX.

AS HOMES  are  being  WORN  and  TORN by the YEAR 

without  RENTAL  INCOME

Luostock      ( Date: 01-Apr-2010 12:15) Posted: This may be a double-edge sword. If retirees want to change to a smaller HDB unit to get cash for the retirement may not enough when their children have their own flat and family. PRs are "meng long guo jiang". They work hard, more entreprenuer and daring (note that the Australians do not like Asians to work so hard in their country). Before 1995, PRs were not allowed to buy HDB from open market. Many of them were forced to buy private properties. 1 Pr bought one for $400K in Mohd Sultan area in 1986. When he retired in 1996, he sold for $1.3 million. He went back to Msia. Many Prs have private property as well as HDB bought from open market, while many locals of same salary bought directly from HDB, dare not to invest in private property. Prs who are concerned with their children's education and safety will not stay in JB if they have flats here. Locals can start off to buy directly from HDB using only CPF for loan repayment. Then save money to invest in private property to hedge against inflation. The banks pay interest at such miserable rate is at the mercy of the global effect that we cannot control. HDB must not act like Private developer as they have a duty to help the young local couples tohave a roof so that they are more willing have children/ more children/ at the younger age. Cut down the waiting time to less than 2 yrs. pharoah88      ( Date: 31-Mar-2010 17:17) Posted: to be  FAIR  &  JUST  to  singaporeans, PR should  only  be  allowed to buy HUDC or private property  since  they can afford to  PAY  OVER and ABOVE  REQUIREMENT   [POAR]

 

for PAST DECADES,  it had  been  PROVEN.

HiGHEST  CAR  PRiCES

HiGHEST  ROAD TAXES

HiGHEST  PETROL  PRiCES

HiGHEST INSURANCE COSTS

HiGHEST  ERP  CHARGES

HiGHEST  COE  PRiCES

ALL  DID  NOT  TERMINATE  TRAFFIC  JAMS  AND  POLLUTION.

Is  that  a  BROKEN  PROMISE ?

 

Moderate      ( Date: 01-Apr-2010 11:34) Posted: I think we need politicians to improve our lots, not to jam the highways and crowd the carparks. The Elite can rule only if they serve our ends, not their ends.  AnthonyTan      ( Date: 01-Apr-2010 11:10) Posted: Ppls move forward,but,  you want to move backward, haha