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Some 33,000 flat owners owed HDB arrears

Marquee

By Marquee,
in Property Buzz

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Marquee

Marquee

Clutched

Cannot tahan our own HDB....MBT juz mentions that HDB remained affordable; indicating statistic shows that pricing of HDB is line with household income.

 

I somehow sympathise our younger generation. They are forced to buy expensive flats and yet our govt agency is singing bird song and asking them to "buy within their means".

 

_______________________________

 

 

SINGAPORE : The Housing and Development Board (HDB) will continue to keep tabs on flat owners who default on their HDB mortgage payments.

 

It stressed that long term measures to help these owners manage their mortgage payment is the best solution, and that compulsory acquisition of the flat is a last resort.

 

As of October 2008, some 33,000 flat owners owed HDB arrears of three months or more. They make up less than 8 per cent of the 420,000 households with outstanding HDB loans.

 

Giving this update in Parliament on Tuesday, Parliamentary Secretary for National Development Mohamad Maliki Osman said home owners should buy within their means.

 

But he recognised that there are some who are affected by the economic downturn and one option for them is to downgrade to a smaller unit.

 

More 2 and 3-room HDB flats will be coming on stream next year to cope with the growing demand for smaller flats.

 

Dr Maliki also said heavily subsidised rental flats should be given to those who are in dire need. - CNA /ls

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Tarzan666

Tarzan666

2nd Gear

How to buy within their means..3 room flat oso cost nearly $300K or more if in good location.

 

Its HDB fault in allowing valuation in open market to shoot p so high,so at least give them an opportunity to raise their selling price.

 

I always feel that HDB should not allow cash over valuation. Flat already valued by "licensed" valuers..its the flat value already..

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Nolicense

Nolicense

Turbocharged

everything in sg is priced at the highest amount to stop people from over consumption.

petrol at price that deter you from driving more than you have to.

public transport fares priced at more than you want to travel an additional trip.

hospital bills at more than you can stay an additional half day.

housing price at more than you can have spare cash to renovate.

car price at more than you can pay off at the end of 10 years.

 

whats new.

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Ender

Ender

Hypersonic

Anything MBT touches, the people will feel very painful on the pocket. From transport, hurt all drivers. Now in MND, hurt all home owners..

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Taggy

Taggy

1st Gear

toa payoh "Central Horizon", 20th floor, selling direct by HDB, $355k for 75 Sq meter.

 

Is this affordable? is this reasonably priced? when is HDB going to lower price? ...

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Leo72

Leo72

6th Gear

Read the "Today" newspaper. Mah say it take 300K to build a flat in Sengkang but HDB is selling to the people at 200K only, 100K cheaper already.

 

I wonder how the 300K comes from? Where's the figure? Someone got to make Mah release the figure.

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Kelfinity

Kelfinity

1st Gear
How to buy within their means..3 room flat oso cost nearly $300K or more if in good location.

 

Its HDB fault in allowing valuation in open market to shoot p so high,so at least give them an opportunity to raise their selling price.

 

I always feel that HDB should not allow cash over valuation. Flat already valued by "licensed" valuers..its the flat value already..

 

I think their point is... no money dun buy big or downtown flats... go buy small and rural flats instead. [laugh]

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Kelfinity

Kelfinity

1st Gear

Anyway, do you guys expect HDB prices to fall next year? I suppose when resale prices start to dip, hdb would have to adjust accordingly for the new flat prices? Question is... will they start to hold back releases of 4/5 rms flats in prime locations since those are their money trees?

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Silver_blade

Silver_blade

Turbocharged
...I always feel that HDB should not allow cash over valuation. Flat already valued by "licensed" valuers..its the flat value already..
There is nothing wrong in cash over valuation....it's a sensible way to trade....especially if there is more than 1 potential buyer. Seller will sell to whoever can pay the highest.

 

I feel the problems lies with both HDB and buyers. I feel HDB should really provide near-to cost housing. Buyers on the other hand also have to work out their budget well and factor in a possible lost of income and other expensese, etc...

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Kb27

Kb27

Supersonic
But he recognised that there are some who are affected by the economic downturn and one option for them is to downgrade to a smaller unit.

 

 

Talk is cheap.

 

Some people downgrade actually has to pay even more money due to them buying high.

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Yuan

Yuan

6th Gear
Read the "Today" newspaper. Mah say it take 300K to build a flat in Sengkang but HDB is selling to the people at 200K only, 100K cheaper already.

 

I wonder how the 300K comes from? Where's the figure? Someone got to make Mah release the figure.

 

300k huh.....Some of the flats are Park Central or Duxton cost about 500k or 600k. And HDB capped the salary limit of buyers to 8k. How do these buyers pay a flat worth 500k to 600k with a maximum salary of 8k? [hur]

 

Impliedly, you are making these buyers to continue working until they die.

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Watwheels

Watwheels

Supersonic

I think many ppl wanted to get a 3-room flat but at some point of time there were no new 3rm available for sale, only 4~5rm. Like kenna forced to upgrade.

 

Now they say ppl should buy within their means [rolleyes] . For this economic downturn it shows us the true colours of u-know-who. I wonder how about the numbers on those who took bank loans.

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Acevin

Acevin

Clutched
Read the "Today" newspaper. Mah say it take 300K to build a flat in Sengkang but HDB is selling to the people at 200K only, 100K cheaper already.

 

I wonder how the 300K comes from? Where's the figure? Someone got to make Mah release the figure.

 

Ya, no breakdown wat makes up the 300k... n is this price for 4-rm / 5-rm or executive?? also no say.. 200k can only buy a 3-rm flat..

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Marquee

Marquee

Clutched
  • Author
(edited)
toa payoh "Central Horizon", 20th floor, selling direct by HDB, $355k for 75 Sq meter.

 

Is this affordable? is this reasonably priced? when is HDB going to lower price? ...

 

If I have a chance to voice my qns to MBT at the parliament, I would like to know his definition on "affordable" and his basis of justifying the public housing to go in line with household income.

 

Even our health minister KBW was speaking about mean testing, saying that the mean testing is a complex exercise to siphon patients whom do not qualify for Ward C subsidy.

 

I do not advocate mean testing for ppl buying public housing; I only think MBT is giving a lame excuse.

Edited by Marquee
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