Showster Twincharged May 19, 2018 Share May 19, 2018 Need to renew HDB leases, otherwise the asset enhancement strategy (aka ownself pay ownself) will collapse and many who wiped out their CPF to fund the roof over their heads will have no retirement funds and govt will need to bail them out. Do we really have a lot of time to sort this out? But where did all those land money went to? Subsidized or not, it is still cold hard cash. In our reserves? If so easy to renew then no need for people to buy new HDB. Just buy 98 year old HDB and wait for Govt to renew. ↡ Advertisement 1 Link to post Share on other sites More sharing options...
DACH Supersonic May 19, 2018 Author Share May 19, 2018 If so easy to renew then no need for people to buy new HDB. Just buy 98 year old HDB and wait for Govt to renew. But there's no 98 year old HDB yet. Link to post Share on other sites More sharing options...
BanCoe Hypersonic May 19, 2018 Share May 19, 2018 ....like saying ownself loose to ownself Of course it is SLA sells land to HDB@300 psf HDB pays contractor 200 psf construction cost HDB sells you for 400 psf so they lose 100 psf. Not subsidy meh? 2 Link to post Share on other sites More sharing options...
Showster Twincharged May 19, 2018 Share May 19, 2018 But there's no 98 year old HDB yet. ðYet. Wait for SG100. 1 Link to post Share on other sites More sharing options...
kdash Supersonic May 19, 2018 Share May 19, 2018 Yet. Wait for SG100.will we still be alive by then? 1 Link to post Share on other sites More sharing options...
Showster Twincharged May 19, 2018 Share May 19, 2018 Therein lies one crux of the problem. Most HDB owners/dwellers will not really be alive by then, but are just as concerned about the expiry of the lease as if they would still be alive. One reason for the unhappiness I feel is the legacy that many hope to leave behind to their descendants. However, HDB is not the right tool to obtain for that purpose. It should not be. It should serve social and housing purposes only, and maybe a little investment aims in the first 30 years of lease. will we still be alive by then? 4 Link to post Share on other sites More sharing options...
Wt_know Supersonic May 19, 2018 Share May 19, 2018 (edited) fully agreed with your point. however, cannot blame them fully for the longest time we keep hearing hdb = asset enhancement hdb = nest egg hdb = rental / passive income so hdb = simoly a roof over your head and your family head or hdb = investment and speculation tool? too many expectation people got on their million dollar hdb the next for people to complain is if they cannot make $200k-$250k (min expectation) when they flip their bto after MOP Therein lies one crux of the problem. Most HDB owners/dwellers will not really be alive by then, but are just as concerned about the expiry of the lease as if they would still be alive. One reason for the unhappiness I feel is the legacy that many hope to leave behind to their descendants. However, HDB is not the right tool to obtain for that purpose. It should not be. It should serve social and housing purposes only, and maybe a little investment aims in the first 30 years of lease. Edited May 19, 2018 by Wt_know Link to post Share on other sites More sharing options...
Showster Twincharged May 19, 2018 Share May 19, 2018 (edited) To be exact, from 2000 to 2011, the concept was HDBs as assets. It was an investment and speculation tool for many. Any HDB islandwide was an asset that grew in value during those periods. SERS was not a problem given those kind of growth in value. We all know what happened in 2011 that caused deep reflections within the PAP camp. The whole policy was rejected by the population at large resulting in probably the worst election results ever. So fast forward 7 years, this is where we are. Buy to stay, all happy. Buy to sell and change HDB, still good. Buy to upgrade or speculate, very hard to gain. BTO still have some meat, resale very unlikely. Buy to sell and upgrade to private, it will be quite painful. SERS became next to impossible with the dwindling values. Right now, speculation is still possible but much harder to gain that much. Even though a few are extremely upset, most are happy with this. As they said, no need appreciation. Sell high buy high, sell low buy low. Policy aim achieved. fully agreed with your point.however, cannot blame them fullyfor the longest time we keep hearinghdb = asset enhancementhdb = nest egghdb = rental / passive incomeso hdb = simoly a roof over your head and your family heador hdb = investment and speculation tool?too many expectation people got on their million dollar hdbthe next for people to complain is if they cannot make $200k-$250k (min expectation) when they flip their bto after MOP Edited May 19, 2018 by Showster 1 Link to post Share on other sites More sharing options...
Chongster 6th Gear May 26, 2018 Share May 26, 2018 Can’t imagine people still taking about this after 30 yrs. by letting people use cpf pay for property, and by being the largest landlord and seller of property in Singapore, govt went from owing billions to the people, to the people owing billions to the govt in a stroke of the pen. why would they change that? 1 Link to post Share on other sites More sharing options...
Ash2017 Twincharged June 13, 2018 Share June 13, 2018 actually I don't understand if G said HDB is an asset, then why cannot use flat as collateral as loan. 1 Link to post Share on other sites More sharing options...
Showster Twincharged June 13, 2018 Share June 13, 2018 It is an asset with limits. It serves a very strong social agenda. If allowed to use as a collateral easily, some might gamble it away or spend on holidays. Even if used as a business loan, what happens if the business ultimately collapses and the couple ends up in their 50s or 60s with a huge pending HDB loan due to this collateral? At least, if it remains fully paid, the couple in their 50s or 60s can sell it away and raise some (more) funds for some options. actually I don't understand if G said HDB is an asset, then why cannot use flat as collateral as loan. 1 Link to post Share on other sites More sharing options...
RogerNg_185295 6th Gear October 22, 2018 Share October 22, 2018 (edited) This is what is know as really caring for the people. What for give GST vouchers and simi rebates? https://www.channelnewsasia.com/news/asia/rm70000-3-bedroom-terrace-johor-royal-family-affordable-housing-10849758#cxrecs_s Edited October 22, 2018 by RogerNg_185295 Link to post Share on other sites More sharing options...
Wt_know Supersonic October 22, 2018 Share October 22, 2018 (edited) aiya ... only JOHOR sultan&prince can do that la as long as they are happy ... anything also can ask any other states in msia can do what johor can do? This is what is know as really caring for the people. What for give GST vouchers and simi rebates? https://www.channelnewsasia.com/news/asia/rm70000-3-bedroom-terrace-johor-royal-family-affordable-housing-10849758#cxrecs_s Edited October 22, 2018 by Wt_know Link to post Share on other sites More sharing options...
Kusje Supersonic October 22, 2018 Share October 22, 2018 This is what is know as really caring for the people. What for give GST vouchers and simi rebates? https://www.channelnewsasia.com/news/asia/rm70000-3-bedroom-terrace-johor-royal-family-affordable-housing-10849758#cxrecs_s Better read up on the history of the johor royal family first.... Confirm worse than our first family. 1 Link to post Share on other sites More sharing options...
RogerNg_185295 6th Gear October 22, 2018 Share October 22, 2018 Better read up on the history of the johor royal family first.... Confirm worse than our first family. I thought ours worst? Link to post Share on other sites More sharing options...
Galantspeedz Turbocharged October 22, 2018 Share October 22, 2018 I thought ours worst? then you should go convert to johorean and apply for their cheap housing Link to post Share on other sites More sharing options...
Kusje Supersonic October 22, 2018 Share October 22, 2018 I thought ours worst? did you google to read up? Link to post Share on other sites More sharing options...
Throttle2 Supersonic October 22, 2018 Share October 22, 2018 All i know is that if you use CPF to buy house and you got no other money. When you 55 yrs old, you cannot retire. When you 62yrs old, you cannot retire When you 75yrs old, you cannot retire If you retire, you must sell your property or move out of Singapore. Of sell and down grade. Ho sey liao. Welcome to your retirement Congratulations. ↡ Advertisement 1 Link to post Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In NowRelated Discussions
Related Discussions
Properties info
Properties info
Renovation budget that blows your mind
Renovation budget that blows your mind
All HDB households to get S$300 in Climate Vouchers 2024-2027
All HDB households to get S$300 in Climate Vouchers 2024-2027
Hdb flat renovation
Hdb flat renovation
Fatal Accidents - Driver or Road Problem?
Fatal Accidents - Driver or Road Problem?
Does HDB profit from selling flats?
Does HDB profit from selling flats?
Will my HDB flat be worth $0 when the lease expires?
Will my HDB flat be worth $0 when the lease expires?
First-timers must select BTO flats when invited by HDB or lose priority for a year from August launch
First-timers must select BTO flats when invited by HDB or lose priority for a year from August launch