CNA: Years To Correct Supply-Demand Imbalance For HDB Flats

[Vulcann]

From CNA:

 

http://www.channelnewsasia.com/stories/sin...1142742/1/.html

Years to correct supply-demand imbalance for HDB flats: Khaw

By Joanne Chan | Posted: 24 July 2011 1656 hrs

 

[Twnll]

Too cool the market, HDB should NOT release or allow the release of actual prices of resale flats but only allow information like actual valuation price. That includes property agent sending out flyers. This would enbolden sellers to ask for more and more.

[Poper]

"Why do prices go up? It's very simple, because there's an imbalance in supply and demand. Supply means... build more. (But) you won't see the flat until three years later. New housing plans will have effect on the resale market. So the more I push out, I'm sure there's some influence," said Mr Khaw.

 

On the demand side, Mr Khaw advised young couples who have a place to stay in currently, not to get too excited and jump into the resale market. Instead, they should continue to apply for a BTO flat. He also urged upgraders who already own a flat to hold off on their plans, so as not to crowd the market.

 

Let me rephrase Khaw's statement for better clarity

 

"Why do prices go up? It's very simple, because of the an influx of foreigners created by PAP's pro-foreigner policies. Then, thanks to Mah BT for allowing these PR to buy resale flat, thus driving HDB prices high so that Singaporeans can benefit from their asset appreciation. So, Singaporeans have to accept that public housing prices will go up and young couples will have to ballot for BTOs to avoid high HDB prices and COVs."

[Tigerwoods]

But the % of PRs buying resale is VVS1

[Mllcg]

at least he is doing something.

 

 

[Ah_tee]

he should correct it first by correcting sale price of BTO.

 

this is well within gahment control

 

 

once BTO goes down, it will entice those eligible to look at BTO over resale, which brings the demand down from open market.

 

 

if not please release the profit per unit tat gahment is making, please stop the crap of leasing the land from SLA as both belong to gahment

[Tigerwoods]

he should correct it first by correcting sale price of BTO.

 

this is well within gahment control

 

 

once BTO goes down, it will entice those eligible to look at BTO over resale, which brings the demand down from open market.

 

 

if not please release the profit per unit tat gahment is making, please stop the crap of leasing the land from SLA as both belong to gahment

He won't. Why kill the Goose that lay golden eggs ?

Frankly MBT had really screwed the system by giving PRs the privilege to buy Resale.

Can Khaw reverse it ? I don't think so lest he don't mind being branded Anti-PR...

My next door neighbour is Msia Chinese PR. they so damn secretive and sometimes for weeks the flat is vacant.

Looks like they will sell after the 3 year is up and go back Msia...

Edited July 24, 2011 by Tigerwoods

[Hosaybo]

My mums neighbour did just that ..... Maybe living in some bunglow in malaysia right now.

[Gendut]

at least he is doing something.

 

Actually he is doing nothing.

 

Identifying the shortage and building more BTOs has been initiated during MBT tenure. KBW just continues with the policy.

 

I don't see any new major policy initiatives on housing. I don't hear him spell out what he wants happen to housing in 5 years time.

 

What I see him doing is leaving much to the market. I don't see a vision. I see only vague statements.

[Sdf5725]

Actually he is doing nothing.

 

Identifying the shortage and building more BTOs has been initiated during MBT tenure. KBW just continues with the policy.

 

I don't see any new major policy initiatives on housing. I don't hear him spell out what he wants happen to housing in 5 years time.

 

What I see him doing is leaving much to the market. I don't see a vision. I see only vague statements.

 

what do you expect from the 8 dollars medical bill man? you all really expect something to be changed?

3-5 years? of course. bubbles burst and it will naturally got the price comes down lah.

later he will tell you, "see, with out the CPF and stuff, i only pay 8 bucks for my HDB executive flat"

[Mllcg]

Actually he is doing nothing.

 

Identifying the shortage and building more BTOs has been initiated during MBT tenure. KBW just continues with the policy.

 

I don't see any new major policy initiatives on housing. I don't hear him spell out what he wants happen to housing in 5 years time.

 

What I see him doing is leaving much to the market. I don't see a vision. I see only vague statements.

 

he stopped DBSS for starters. the centrale8 at tampines was the last.

 

he's revving up BTOs ahead of demand instead of full order first the build.

 

slowly.

[Ghostami]

He is doing something but I think its really just delaying the problem and not solving it. To combine the 2 launches as 1, he did not really increase supply but only increase choice of location for bto. I believe if they are really serious about solving this, SLA and all other relevant agencies should sit down and listen to what he can offer and work with him, he is the minister in charge to solve this problem, not to mention he is suppose to be in a way, the government representative. Its more of whether they want to bleed the golden goose or do they wanna fatten it even more. We just have to wait and see if any new concrete solutions can be shown, hopefully not another round of asking public again, they know the problem for a long time hence should have some solutions in mind just that pushing it out slowly, if not I really question their million dollar salary even further.

[Zniper]

to cure a problem, is to cure the root of the problem... not juz by appearing everyday in the news saying already done tis and tat... if tat's the case, dan wat is he different from MBT??? yes i very well agree he is already trying to do someting which is apparently clearing s--t from MBT... but how long can he last by clearing shits???

[Kusje]

he stopped DBSS for starters. the centrale8 at tampines was the last.

 

he's revving up BTOs ahead of demand instead of full order first the build.

 

slowly.

 

He did stop the sale of more land for BTOs but CEntrale 8 is not the last. There were some plots of DBSS land sold after Centrale 8 and they will be coming to the market in the near future.

[Silver_blade]

I agree with some MCFers here. We can see that KBW is trying to do something here. Give him some time to try to solve the problem, which is not easy cos planning, design, construct, etc...take a lot of time and does not include a revision of some major policy. The time he need to take to try to resolves these issuesbmay also be a reflection on the size & extent of the problems left behind by previous minister. We shall assess his performance at the end of his term.

[Porche]

wait till the term finish and the price still doesn't come down, he get voted out.

[Ghostami]

wait till the term finish and the price still doesn't come down, he get voted out.

 

I am not sure about this. MBT was not voted out despite the amount of angry people we see around but maybe they are just a small fraction, and the rest of Sg all agree with him that housing is affordable hence did not do anything.

[SimonTan]

Last week got tv news saying maids stay out like HK.

So if that happen, the rental for HDB will boom like no tomorrow.

 

Some more HDB = Singapore survival.

It will never be drop in prices. The most stabilize, which is what Kwah is kept saying indirectly!

I am confident about Singapore properties stability.

Don't need to worry much.