Joseph22 Turbocharged December 31, 2012 Share December 31, 2012 why do you guys wanna assume so much? Maybe the parents pay all. Maybe the parents pay for their loan. Maybe the buyers inherited a fortune from their grandparents. It can be so many possibilities. Why even bother to speculate? relax lah bro.. chit chatting mah.. to day NYE. everyone no mood to work ↡ Advertisement Link to post Share on other sites More sharing options...
Estrangable 5th Gear December 31, 2012 Share December 31, 2012 why do you guys wanna assume so much? Maybe the parents pay all. Maybe the parents pay for their loan. Maybe the buyers inherited a fortune from their grandparents. It can be so many possibilities. Why even bother to speculate? we are using a "normal" case whereby the couple has to pay for everything .......from downpayment to reno in that case, it's actually pretty tough for a couple with 12k salary to purchase a 1.5 mil apartment... anyway today is nye...everyone is on holiday mood mah Link to post Share on other sites More sharing options...
Estrangable 5th Gear December 31, 2012 Share December 31, 2012 you know what is rich parents or not?? you think their children only leave on their own salary meh. i got a colleague who is earning a mid 1Xk+ monthly salary but her parents still give her allowance every month and sub card as well....she is decked in prada from the top to the bottom. Link to post Share on other sites More sharing options...
Wt_know Supersonic December 31, 2012 Share December 31, 2012 (edited) you are absolutely right. policy should be made based on "normal" scenario if policy is based on "best" scenario ... $2M is too cheap la for rich dad, mom, or even godfather godmother we are using a "normal" case whereby the couple has to pay for everything .......from downpayment to reno in that case, it's actually pretty tough for a couple with 12k salary to purchase a 1.5 mil apartment... anyway today is nye...everyone is on holiday mood mah Edited December 31, 2012 by Wt_know Link to post Share on other sites More sharing options...
Joseph22 Turbocharged December 31, 2012 Share December 31, 2012 you are absolutely right. policy should be made based on "normal" scenario if policy is based on "best" scenario ... $2M is too cheap la for rich dad, mom, or even godfather godmother of course. except our original discussion wasnt talking about the policy wor Link to post Share on other sites More sharing options...
Wt_know Supersonic December 31, 2012 Share December 31, 2012 (edited) that's why my point is $2M EC for $12K income is ridiculous and "unaffordable" > not taking rich papa rich mama into discussion try walk in to EC and ask the agent, your household is $12K and no rich papa rich mama ... agent will said ... aiya stomache need to go toilet ... no waste time of course. except our original discussion wasnt talking about the policy wor Edited December 31, 2012 by Wt_know Link to post Share on other sites More sharing options...
Icedbs Turbocharged December 31, 2012 Share December 31, 2012 (edited) we are using a "normal" case whereby the couple has to pay for everything .......from downpayment to reno in that case, it's actually pretty tough for a couple with 12k salary to purchase a 1.5 mil apartment... anyway today is nye...everyone is on holiday mood mah No problem. Just that I think for today's property prices, very hard to use "normal" case. I have a friend who just pass his RES course few weeks back and is now an agent. He told me that the first thing he realized after becoming an agent is that there are much more kids with rich parents than he ever expected. A lot of young couples managed to pay quite substantial deposit and most got it from their parents. So when I read headlines like this, I don't even want to speculate anymore from the income perspective. Waste time since it is obvious that there are some form of family help. Edited December 31, 2012 by Icedbs Link to post Share on other sites More sharing options...
Joseph22 Turbocharged December 31, 2012 Share December 31, 2012 that's why my point is $2M EC for $12K income is ridiculous and "unaffordable" > not taking rich papa rich mama into discussion try walk in to EC and ask the agent, your household is $12K and no rich papa rich mama ... agent will said ... aiya stomache need to go toilet ... no waste time err.. then you quote me to reply for what?? I only explaning to one guy how come that penthouse unit can be sold despite income limit dont allow the loan nia. anyway 12K income limit only apply to those who work in singapore right?? meaning say hubby get salary in singapore 12K. wife working in Hong kong getting 12K from another company that is not registered in singapore. still consider 12K or 24K? Link to post Share on other sites More sharing options...
Yewheng Twincharged December 31, 2012 Share December 31, 2012 (edited) No problem. Just that I think for today's property prices, very hard to use "normal" case. I have a friend who just pass his RES course few weeks back and is now an agent. He told me that the first thing he realized after becoming an agent is that there are much more kids with rich parents than he ever expected. A lot of young couples managed to pay quite substantial deposit and most got it from their parents. So when I read headlines like this, I don't even want to speculate anymore from the income perspective. Waste time since it is obvious that there are some form of family help. I think to put this to stop is to impose max % of down payment allowed relatives value of purchase for HDB , EC. This will force developer to think twice before bidding too high the build HDB, EC. Those not happy can go private as their family can afford it. If not can foresee new launch EC will continue to rise putting those sandwiched class in pressure. Edited December 31, 2012 by Yewheng Link to post Share on other sites More sharing options...
Enye Hypersonic December 31, 2012 Share December 31, 2012 imho kids with rich parents are the new norm so many examples but maybe difficult for some to accept Link to post Share on other sites More sharing options...
Joseph22 Turbocharged December 31, 2012 Share December 31, 2012 I think to put this to stop is to impose max % of down payment allowed relatives value of purchase for HDB , EC. This will force developer to think twice before bidding too high the build HDB, EC. Those not happy can go private as their family can afford it. If not can foresee new launch EC will continue to rise putting those sandwiched class in pressure. this one how to impose? if the rich father just transfer money to son bank account or even pass the cash to him. mean that the money belong to him liao. not relative. Link to post Share on other sites More sharing options...
Lala81 Hypersonic December 31, 2012 Share December 31, 2012 No problem. Just that I think for today's property prices, very hard to use "normal" case. I have a friend who just pass his RES course few weeks back and is now an agent. He told me that the first thing he realized after becoming an agent is that there are much more kids with rich parents than he ever expected. A lot of young couples managed to pay quite substantial deposit and most got it from their parents. So when I read headlines like this, I don't even want to speculate anymore from the income perspective. Waste time since it is obvious that there are some form of family help. haha how come MCF seldom got pple say they are these ASK? our demographics are skewed? Link to post Share on other sites More sharing options...
Joseph22 Turbocharged December 31, 2012 Share December 31, 2012 haha how come MCF seldom got pple say they are these ASK? our demographics are skewed? you try saying you ASK lor.. see if you kenna left right center or not Link to post Share on other sites More sharing options...
Yewheng Twincharged December 31, 2012 Share December 31, 2012 this one how to impose? if the rich father just transfer money to son bank account or even pass the cash to him. mean that the money belong to him liao. not relative. I mean max % of down payment allowed to value of purchase of unit. E.g Unit cost 1million, max down payment allowed is 40% for example. So max can only pay 400k in cash, the rest 600k must take loan. So rich parents will not be able to put very high down payment for HDB, EC, developer will not want to bid for too high to build HDB, EC as they will not be able to sell at high price due to impose of max % downpayment allowed. Imagine if developer set 2million for a EC unit with 40% down payment allowed, it works out to be still need 1.2million to be payed by loan. Do you think developer will want to do that? Very slim chance will have buyer. Link to post Share on other sites More sharing options...
Enye Hypersonic December 31, 2012 Share December 31, 2012 haha how come MCF seldom got pple say they are these ASK? our demographics are skewed? no, MCF demographics are not skewed its just that you didn't read between the lines Link to post Share on other sites More sharing options...
Joseph22 Turbocharged December 31, 2012 Share December 31, 2012 I mean max % of down payment allowed to value of purchase of unit. E.g Unit cost 1million, max down payment allowed is 40% for example. So max can only pay 400k in cash, the rest 600k must take loan. So rich parents will not be able to put very high down payment for HDB, EC, developer will not want to bid for too high to build HDB, EC as they will not be able to sell at high price due to impose of max % downpayment allowed. Imagine if developer set 2million for a EC unit with 40% down payment allowed, it works out to be still need 1.2million to be payed by loan. Do you think developer will want to do that? Very slim chance will have buyer. then even more unreasonable. you cannot start a policy to stop a person for paying full if he can afford to and force him to pay more via bank interest. Link to post Share on other sites More sharing options...
Lala81 Hypersonic December 31, 2012 Share December 31, 2012 no, MCF demographics are not skewed its just that you didn't read between the lines Lol aiyoh, ASK no need shy mah. come out and say something lah! Link to post Share on other sites More sharing options...
Yewheng Twincharged December 31, 2012 Share December 31, 2012 then even more unreasonable. you cannot start a policy to stop a person for paying full if he can afford to and force him to pay more via bank interest. Ya, I think very reasonable 1.. But whether khaw will do that is another big ?? . ↡ Advertisement Link to post Share on other sites More sharing options...
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