inlinesix Supersonic July 17, 2020 Share July 17, 2020 1 minute ago, Wt_know said: all looking into their "force majeure" clauses to find a way out + cry papa cry mama for ah gong help .. https://sso.agc.gov.sg/Act/COVID19TMA2020 Para 5 ↡ Advertisement Link to post Share on other sites More sharing options...
Roh96 6th Gear July 17, 2020 Share July 17, 2020 4 minutes ago, Showster said: Do you know if construction completion is delayed for 9 months, and renovation work is delayed for 3 months, for that one whole year, how much rent someone got to pay more for??? Then of course you can't change (much) existing contracts, but from what I hear, there are contract variations and exceptions allowed due to Covid-19. Suppliers have no choice but to cut elsewhere or over-charge future projects to compensate. Those who locked in price with HDB, I don't know where the contractors can cut, but how about those who are waiting for a downturn before they lock in the price? These people will be in for a rude shock! Project delay is another issue altogether. You negotiate for extension, payment deadline, waiver from penalty etc. Everything is based on contractual obligation. You don't suka suka up price and expect developer or HDB to bear the swab cost. In other words, you just have to suck it up. Many small construction firms will likely fold up soon. Link to post Share on other sites More sharing options...
Enye Hypersonic July 17, 2020 Share July 17, 2020 bear says demand drop bull says supply drop even faster and costs go up so bull or bear will win this round? 😅 Link to post Share on other sites More sharing options...
noobcarbuyer 5th Gear July 17, 2020 Share July 17, 2020 3 minutes ago, Enye said: bear says demand drop bull says supply drop even faster and costs go up so bull or bear will win this round? 😅 Both win? Sounds like stagflation. 😰 Jit Pai Jia Lat Liao. Link to post Share on other sites More sharing options...
Roh96 6th Gear July 17, 2020 Share July 17, 2020 10 minutes ago, Enye said: bear says demand drop bull says supply drop even faster and costs go up so bull or bear will win this round? 😅 I feel the odds are stacking up against the bull. The poor bull is running out of story to spin. But then again, the bear could be wrong too. Haha.. Link to post Share on other sites More sharing options...
Showster Twincharged July 17, 2020 Share July 17, 2020 (edited) 19 minutes ago, Roh96 said: Project delay is another issue altogether. You negotiate for extension, payment deadline, waiver from penalty etc. Everything is based on contractual obligation. You don't suka suka up price and expect developer or HDB to bear the swab cost. In other words, you just have to suck it up. Many small construction firms will likely fold up soon. Welcome to the real world lor. Even without contractual exclusion clause, suppliers can also adjust delivery at agreed prices. There are at least a dozen variation possible. I am telling you what I encounter first and second hand. Go and speak to a real contractor. DPM Heng has also given us a clue earlier about variation to these contractual obligations. Edited July 17, 2020 by Showster 1 Link to post Share on other sites More sharing options...
Enye Hypersonic July 17, 2020 Share July 17, 2020 unless both bull and bear lose construction industry sure die 😅 Link to post Share on other sites More sharing options...
Throttle2 Supersonic July 17, 2020 Share July 17, 2020 (edited) 32 minutes ago, noobcarbuyer said: For current projects being built, the developer or sub-contractor will lan lan have to absorb the added costs. For HDB BTO, at least quality and standards will be assured. Govt will step in if need be. This is basic housing for the majority of the citizens, cannot play play. As for how private developers will need to account for all that added costs, and perhaps still try and break even or turn a profit. That one I also very curious to know. Anyway, one thing is for sure. We live in interesting times. I have never thought that even the mighty HDB cookie cutter machinery has been humbled even with all the resources being channeled to it during this pandemic. Drove past a couple of BTO projects. No work has been done since March. Main gate still shut. Same with the condo projects near my residence. All very quiet. Wonder how this will distort the property market. Some people will still say, it will go up up up. huat ah! Edited July 17, 2020 by Throttle2 Link to post Share on other sites More sharing options...
Throttle2 Supersonic July 17, 2020 Share July 17, 2020 (edited) 36 minutes ago, Roh96 said: Project delay is another issue altogether. You negotiate for extension, payment deadline, waiver from penalty etc. Everything is based on contractual obligation. You don't suka suka up price and expect developer or HDB to bear the swab cost. In other words, you just have to suck it up. Many small construction firms will likely fold up soon. Yes i know of a handful folded and definitely more will fold in the next 1-2mths lucky, my own builder still ok. He also suffering but he is quite prudent guy, cashflow ok. He still need to fix my front patio small condensation leak. The auto garage door motor not so smooth, my cigar lounge sliding ceiling glass panels and my daughters oak wood sliding toilet door not quiet enough. But have to delay....... Sorry, what am i talking about??. I mean my punggol hdb cabinet and faucet and iron gate needs fixing. Edited July 17, 2020 by Throttle2 2 Link to post Share on other sites More sharing options...
Karoon Turbocharged July 17, 2020 Share July 17, 2020 13 hours ago, 13177 said: I would not believe people who stay at private, able to stay in hdb la. Even they want to downgrade also will consider buying a smaller unit private. I've stayed in landed, HDB and condo in my near 50 years here. What makes a place nice are neighbours. Now in condo and in the condo chat app all I see are too many entitled people with a-z complaints. Made me miss the generally unassuming hdb heartlanders. 4 Link to post Share on other sites More sharing options...
Showster Twincharged July 17, 2020 Share July 17, 2020 (edited) 4 minutes ago, Karoon said: I've stayed in landed, HDB and condo in my near 50 years here. What makes a place nice are neighbours. Now in condo and in the condo chat app all I see are too many entitled people with a-z complaints. Made me miss the generally unassuming hdb heartlanders. Actually there is an inherent bias here. There are no HDB chat app. Else you will also see the same with a-z complaints. Also, people pay more for the facilities so there are more grounds for these complaints as well (expecting higher level of service). You can exit the condo app to shut out the negativities as well. Edited July 17, 2020 by Showster 1 1 Link to post Share on other sites More sharing options...
Showster Twincharged July 17, 2020 Share July 17, 2020 40 minutes ago, Enye said: unless both bull and bear lose construction industry sure die 😅 Some construction wind up but both bull and bear has to pay as well. Pandemic - all affected. "Mr Lee also said that Parliament is set to pass a new temporary legislation to let businesses and individuals defer certain contractual obligations for a period, such as paying rent, repaying loans, or completing work. The Covid-19 (Temporary Measures) Bill proposes to temporarily make it an offence for an organisation or individual to take legal action against a party who is not fulfilling his contractual obligations, as long as that party gives notice that his inability to fulfil the contract has been due to the pandemic. This would cover a range of contracts involving everything from construction firms facing liquidated damages for incomplete projects to wedding couples unable to hold their events at hotels." Read more at https://www.todayonline.com/singapore/covid-19-dpm-heng-announce-more-support-measures-households-and-businesses-april-6 1 Link to post Share on other sites More sharing options...
noobcarbuyer 5th Gear July 17, 2020 Share July 17, 2020 3 minutes ago, Karoon said: I've stayed in landed, HDB and condo in my near 50 years here. What makes a place nice are neighbours. Now in condo and in the condo chat app all I see are too many entitled people with a-z complaints. Made me miss the generally unassuming hdb heartlanders. I enjoy skimming through the iCondo app. The forum posts in the chatterbox function are as entertaining as reading the Straits Times Facebook comment. Agreed that neighbours make the difference. Link to post Share on other sites More sharing options...
Enye Hypersonic July 17, 2020 Share July 17, 2020 2 minutes ago, Showster said: Some construction wind up but both bull and bear has to pay as well. Pandemic - all affected. "Mr Lee also said that Parliament is set to pass a new temporary legislation to let businesses and individuals defer certain contractual obligations for a period, such as paying rent, repaying loans, or completing work. The Covid-19 (Temporary Measures) Bill proposes to temporarily make it an offence for an organisation or individual to take legal action against a party who is not fulfilling his contractual obligations, as long as that party gives notice that his inability to fulfil the contract has been due to the pandemic. This would cover a range of contracts involving everything from construction firms facing liquidated damages for incomplete projects to wedding couples unable to hold their events at hotels." Read more at https://www.todayonline.com/singapore/covid-19-dpm-heng-announce-more-support-measures-households-and-businesses-april-6 wah....borrow a phrase from an old song thank god i'm only watching the game 🤣 Link to post Share on other sites More sharing options...
noobcarbuyer 5th Gear July 17, 2020 Share July 17, 2020 9 minutes ago, Showster said: Actually there is an inherent bias here. There are no HDB chat app. Else you will also see the same with a-z complaints. Also, people pay more for the facilities so there are more grounds for these complaints as well (expecting higher level of service). You can exit the condo app to shut out the negativities as well. My friend did send me some screenshots of his BTO facebook group. This was back in 2015. It was a long time ago but I remember that the level of negativity and bitchiness is about the same. Just that for the iCondo app, the residents can hide behind a pseudonym, so I guess the negativity is ramped up to EDMW levels. 1 Link to post Share on other sites More sharing options...
Showster Twincharged July 17, 2020 Share July 17, 2020 1 minute ago, Enye said: wah....borrow a phrase from an old song thank god i'm only watching the game 🤣 The most amusing thing is if anyone think they can escape just by not being involved as a buyer / seller. A pandemic affects everything and everyone. Lucky will be affected less, unlucky more. Just one example, if costs to secure all essential goods and services go up, who is not affected??? 1 Link to post Share on other sites More sharing options...
Enye Hypersonic July 17, 2020 Share July 17, 2020 3 minutes ago, Showster said: The most amusing thing is if anyone think they can escape just by not being involved as a buyer / seller. A pandemic affects everything and everyone. Lucky will be affected less, unlucky more. Just one example, if costs to secure all essential goods and services go up, who is not affected??? here talking about property and you go and bring up the topic of essential goods and services? stay within the scope and don't throw up unrelated topics to distract 🤣 Link to post Share on other sites More sharing options...
Throttle2 Supersonic July 17, 2020 Share July 17, 2020 38 minutes ago, Karoon said: I've stayed in landed, HDB and condo in my near 50 years here. What makes a place nice are neighbours. Now in condo and in the condo chat app all I see are too many entitled people with a-z complaints. Made me miss the generally unassuming hdb heartlanders. HDB heartlander also got good got bad. Same as teachers, lawyers, doctors, bankers, engineers, programmers etc.. etc...😂 ↡ Advertisement Link to post Share on other sites More sharing options...
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