Does HDB profit from selling flats?

[inlinesix]

6 minutes ago, Victor68 said:

This tiny red dot depends on foreign investments. Tax the rich means they run away. But if the rich see $ and security, they of course will still come. Just need to balance and not kill the supporting ants like us. 

We are top heavy because they want to hold on to power and self interest in my opinion. Not sustainable. 

Currently, there is no “good” alternative.

No question on sustainablity.

[Victor68]

Just now, inlinesix said:

Currently, there is no “good” alternative.

No question on sustainablity.

Have lah, just that you refuse to volunteer lah. 😆

[inlinesix]

Just now, Victor68 said:

Have lah, just that you refuse to volunteer lah. 😆

1 is not enough.

Too ole to have an impact on younger voters.

[Stratovarius]

Heard this on the TV news yesterday. i literally lol. Cant believe that guy can say such things with a straight face. 

Like saying my grandfather passed me his Rolex bought 40 years ago for $700. i sold it now at 5k where the market value is 10k. So all in all i make a loss of 5k. Maybe i peasant, dont know that unrealized gain can be included in P&L calculation. 

[inlinesix]

14 minutes ago, Stratovarius said:

Heard this on the TV news yesterday. i literally lol. Cant believe that guy can say such things with a straight face. 

Like saying my grandfather passed me his Rolex bought 40 years ago for $700. i sold it now at 5k where the market value is 10k. So all in all i make a loss of 5k. Maybe i peasant, dont know that unrealized gain can be included in P&L calculation. 

From Granddad Inc POV, cost of that Rolex is still $700.

[Daniu82]

16 minutes ago, Stratovarius said:

Heard this on the TV news yesterday. i literally lol. Cant believe that guy can say such things with a straight face. 

Like saying my grandfather passed me his Rolex bought 40 years ago for $700. i sold it now at 5k where the market value is 10k. So all in all i make a loss of 5k. Maybe i peasant, dont know that unrealized gain can be included in P&L calculation. 

That's why he got scolded upside down when visiting the SERs people for the AMK flats. 

[Fcw75]

23 minutes ago, Stratovarius said:

Heard this on the TV news yesterday. i literally lol. Cant believe that guy can say such things with a straight face. 

Like saying my grandfather passed me his Rolex bought 40 years ago for $700. i sold it now at 5k where the market value is 10k. So all in all i make a loss of 5k. Maybe i peasant, dont know that unrealized gain can be included in P&L calculation. 

What’s the first criteria when becoming a politician? 😁

Edited October 5, 2022 by Fcw75

[inlinesix]

Just now, Fcw75 said:

What’s the first criteria when becoming a politician? 😁

Ruling 

or

Oppo?

[Kklim]

Former GIC chief economist ridicule clarification of supposed S$270 million loss by HDB on BTO project as “disingenuous and misleading”
https://www.theonlinecitizen.com/2022/10/04/former-gic-chief-economist-ridicule-clarification-of-supposed-s270-million-loss-by-hdb-on-bto-project-as-disingenuous-and-misleading/

Commenting on the claimed loss by HDB, Mr Yeoh who worked in the Singapore’s sovereign wealth fund for 26 years said that the accounting sleight of hand being that the government acquired most of the land at minimal or much lower cost by compulsory acquisition.

He said that the advertised loss is only the opportunity cost of the state reselling the land at market price which it has psssed on to HDB, hence the “loss”.

Mr Yeoh argued that the true cost price should be the original book value of the land plus construction costs which on average is probably much lower than BTO prices before subsidy.

“The opportunity cost to the government of current higher land values should rightly go to HDB buyers to be true to the government and HDBs original mandate of affordable housing for all.”

He proposed that a more equitable, transparent and affordable way to price BTO flats should be factoring in construction costs plus a small premium for location available by ballot.

 

[Eyke]

Don't conflate the 2 issues here:

1. Pricing of the land

2. Highlighting HDB's "loss" while keeping quiet about SLA's gain

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

[Victor68]

I also suffer losses because if I have better ministers, Singapore GDP will grow another 100 times. Everyone no needs to pay tax. Who should I go after?

[inlinesix]

1 hour ago, Eyke said:

Don't conflate the 2 issues here:

1. Pricing of the land

2. Highlighting HDB's "loss" while keeping quiet about SLA's gain

To Government of Singapore Consolidated FS, it is zero effect.

Eliminated upon on consolidation.

It depends on what’s Govt book value for land (cost or market value).

If cost basis, there is gain on sales.

If market value, there is loss on sales.

[Jellandross]

2 hours ago, Stratovarius said:

Heard this on the TV news yesterday. i literally lol. Cant believe that guy can say such things with a straight face. 

Like saying my grandfather passed me his Rolex bought 40 years ago for $700. i sold it now at 5k where the market value is 10k. So all in all i make a loss of 5k. Maybe i peasant, dont know that unrealized gain can be included in P&L calculation. 

My grandparents owned a shop house in bugis area during the 80s but gahmen chased us out with a low five figure compensation back then. That row of shop houses were immediately torn down and became empty land growing grass untill today.

Based on current land value, can I announce on newspaper that our family lost many many millions $$$ or not?

Edited October 5, 2022 by Jellandross

[inlinesix]

11 minutes ago, Jellandross said:

My grandparents owned a shop house in bugis area during the 80s but gahmen chased us out with a low five figure compensation back then. That row of shop houses were immediately torn down and became empty land growing grass untill today.

Based on current land value, can I announce on newspaper that our family lost many many millions $$$ or not?

Write to https://www.theonlinecitizen.com

Confirm will juicify for you 

😂

[inlinesix]

2 hours ago, Victor68 said:

I also suffer losses because if I have better ministers, Singapore GDP will grow another 100 times. Everyone no needs to pay tax. Who should I go after?

LKY

[Unfazed]

5 hours ago, Wind30 said:

…. I lost count how many times the gov has explained this. It’s always the same explanation. People who understand it would have gotten the logic many years ago. People who disagree will not agree with the gov just because gov repeat the same explanation 1001 times….

To me, pricing the land correctly when given to hdb is the right way to go. To me it’s so obvious as without the right pricing, the cost of hdb housing is not reflected rightly, hdb might decide to build 1000000 houses thinking the land is free, which it is obviously not.

死读书 = 读死书 = 书 (输)呆子

Edited October 5, 2022 by Unfazed

[Stratovarius]

4 hours ago, yishunite said:

 

 

Lee :"He also said that HDB does not price new flats based on cost."

Lam: "A more equitable, transparent and affordable way to price BTO flats should thus be construction costs plus a small premium for location available by ballot."

What Desmond lee says here is something very worrying. It could mean that cost to build is actually much lower than selling as it is based on the current valuation of the surrounding flats. Machiam sell things on carousell. 

[inlinesix]

Just now, Stratovarius said:

Lee :"He also said that HDB does not price new flats based on cost."

Lam: "A more equitable, transparent and affordable way to price BTO flats should thus be construction costs plus a small premium for location available by ballot."

What Desmond lee says here is something very worrying. It could mean that cost to build is actually much lower than selling as it is based on the current valuation of the surrounding flats. Machiam sell things on carousell. 

Cost => BTO Price => Reselled HDB.

The price has been like this for the past 15 years.

It depends on how much Ah Gong is willing to let owners earn after MOP.