New VERS scheme for aging HDB

[pegasi]

10k per month is median household

in order not to be biased to higher or lower income groups, comparisons usually use the median 

for household income, its 10k per month

 

for those below median, govt have subsidies programmes for them

PM mentioned last night 4 months of PUB bills paid by govt annually for the less privileged

 

dont talk about those with combine earnings of >10k lei. Take the normal man in the street with salary at an average of 2-3k or those with less than 40k/pa. There are many out there.......they dont qualify for many things that the gov is dishing out. Cant even qualify for FAS for their children.....

 

[Evillusion]

Cannot be leh. PM said the oldest is 52 years old nowf.

 

Many parts of the older Queenstown had been SERS already.

 

I might be wrong though.

of....i forgot to mention he bought it about 10 yrs back! Now seldom see him liao.....so cant ask him about his unit. But last we talked he was very happy with his unit......he did mention sers but i forgotten what he said in entirety.

[Kusje]

Cannot be leh. PM said the oldest is 52 years old now. 

 

Many parts of the older Queenstown had been SERS already.

 

I might be wrong though.

 

What were his exact words?

 

There are many flats already reaching 70 years old.

[Showster]

Hmm... Which area flats are above 70 years old?

 

 

"As for resale flats, with Singapore's oldest flats at most 52 years old, it leaves at least another 47 years on the lease - “still quite a long time”, PM Lee reiterated."
Read more at https://www.channelnewsasia.com/news/singapore/ndr-2018-hdb-lease-99-years-flat-national-day-rally-10631442

 

 

 

What were his exact words?

 

There are many flats already reaching 70 years old.

 

I have a friend who bought a HDB landed in 2009 at a super good price.

 

Won't lose much also even have to live till 0 lease.

 

 

of....i forgot to mention he bought it about 10 yrs back! Now seldom see him liao.....so cant ask him about his unit. But last we talked he was very happy with his unit......he did mention sers but i forgotten what he said in entirety.

 

[Evillusion]

10k per month is median household

in order not to be biased to higher or lower income groups, comparisons usually use the median

for household income, its 10k per month

 

for those below median, govt have subsidies programmes for them

PM mentioned last night 4 months of PUB bills paidr by govt annually for the less privileged

many dont get even pass 5k/month as median income. This kind of averages is skewed if you get what i mean when the difference in income between the lower half and the upper half is substantial. Forget about the subsidies.......they take a bundle and give back in strands! I rather they try harder to rein in inflation for the masses.

[Kusje]

Hmm... Which area flats are above 70 years old?

 

 

"As for resale flats, with Singapore's oldest flats at most 52 years old, it leaves at least another 47 years on the lease - “still quite a long time”, PM Lee reiterated."

Read more at https://www.channelnewsasia.com/news/singapore/ndr-2018-hdb-lease-99-years-flat-national-day-rally-10631442

 

 

 

 

Either he was quoted out of context or not briefed properly.

 

Tiong Bahru has plenty of resale HDB flats older than 70 years old. But lease could be more than 30 years left due to when it started counting down.

[Showster]

Some of those were designated as conservation property and might be regarded as exception due to their special status.

 

 

Either he was quoted out of context or not briefed properly.

 

Tiong Bahru has plenty of resale HDB flats older than 70 years old. But lease could be more than 30 years left due to when it started counting down.

 

[Evillusion]

Hmm... Which area flats are above 70 years old?

 

 

"As for resale flats, with Singapore's oldest flats at most 52 years old, it leaves at least another 47 years on the lease - “still quite a long time”, PM Lee reiterated."

Read more at https://www.channelnewsasia.com/news/singapore/ndr-2018-hdb-lease-99-years-flat-national-day-rally-10631442

 

 

 

 

 

I have a friend who bought a HDB landed in 2009 at a super good price.

 

Won't lose much also even have to live till 0 lease.

bro........loss is subjective for each individual. Kacang putih to some but an entire life savings for others. Some put a bet and loose their pants while others just laugh at the loss. Lucky for me i dont like betting and hedge on things......wont win but wont lose my pants either. Maybe he was banking on sers and lets just hope he gets what he betted on.

[pegasi]

median is not average, median means the 50th percentile (means half the income earned are below median level, and half the income are above the median)

 

truth is, average is more skewed to the right, probably due to rising income inequality

that's why analysts do not use average, but median instead, for analysis

 

i guess your point is rising income inequality - one way is to tax more on high income group 

singapore govt already doing this , i guess there is no need to keep repeating to the public that higher income group are taxed more heavily

 

no one likes to be taxed more heavily

 

many dont get even pass 5k/month as median income. This kind of averages is skewed if you get what i mean when the difference in income between the lower half and the upper half is substantial. Forget about the subsidies.......they take a bundle and give back in strands! I rather they try harder to rein in inflation for the masses.

 

[Kusje]

Some of those were designated as conservation property and might be regarded as exception due to their special status.

 

I am talking about flats which are not conserved leh.

 

And then there's also the HDB terrace someone was mentioning. That one was also built under SIT before HDB was created in 1958 so how can it only be 52 years old?\

 

Think hsien loong is confusing the remaining lease with the age of the flat.

Edited August 20, 2018 by Kusje

[13177]

Cannot be leh. PM said the oldest is 52 years old now. 

 

Many parts of the older Queenstown had been SERS already.

 

I might be wrong though.

There are plenty of HDB flats at least 45 years and above, not only in Queenstown la.

[kdash]

of....i forgot to mention he bought it about 10 yrs back! Now seldom see him liao.....so cant ask him about his unit. But last we talked he was very happy with his unit......he did mention sers but i forgotten what he said in entirety.

are you referring to the 60 yr lease HDB terraces at Queenstown area?

Either he was quoted out of context or not briefed properly.

 

Tiong Bahru has plenty of resale HDB flats older than 70 years old. But lease could be more than 30 years left due to when it started counting down.

are you referring to conservation flats?

[Evillusion]

median is not average, median means the 50th percentile (means half the income earned are below median level, and half the income are above the median)

 

truth is, average is more skewed to the right, probably due to rising income inequality

that's why analysts do not use average, but median instead, for analysis

 

i guess your point is rising income inequality - one way is to tax more on high income group

singapore govt already doing this , i guess there is no need to keep repeating to the public that higher income group are taxed more heavily

 

no one likes to be taxed more heavily

both are skewed. Income inequality will be here to stay......think a few month back someone posted on how the few high earners contributed to such an unbalanced median income for all. Lazy to find the sauce de!

[Showster]

HDB terrace (some in Queenstown and some in Bahagia?) might be too costly to embark upon VERS even. But they live in landed households which is considered a huge luxury in Singapore?

 

Maybe wait till 90 years old then come to them?

 

I believe the priority is to VERS the studio, 1rm, 2rm and 3rm flats first.

 

I also curious to know exactly which flats are 70 years old. I don't have data on that.

 

 

 

I am talking about flats which are not conserved leh.

 

And then there's also the HDB terrace someone was mentioning. That one was also built under SIT before HDB was created in 1958 so how can it only be 52 years old?\

 

Think hsien loong is confusing the remaining lease with the age of the flat.

 

Edited August 20, 2018 by Showster

[kdash]

I am talking about flats which are not conserved leh.

 

And then there's also the HDB terrace someone was mentioning. That one was also built under SIT before HDB was created in 1958 so how can it only be 52 years old?\

 

Think hsien loong is confusing the remaining lease with the age of the flat.

may i know exactly which estate? just curious.

[Evillusion]

are you referring to the 60 yr lease HDB terraces at Queenstown area?

are you referring to conservation flats?

ya....should be. Think my friend bought it at 400-500 k. All i remembered was my brain was going, crazy price for a sniff of landed. You got info on those unit?

Ps. Maybe the price was even $700 000.....?forgotten the numbers liao......as long as he is happy and have that landed gait i happy for him....

Edited August 20, 2018 by Eviilusion

[pegasi]

i think those hdb terrace had a shorter lease than usual lh99

maybe lh60

 

that's why now 30yr old (not 70yr old) and still have 30yr balance lease

 

HDB terrace (some in Queenstown and some in Bahagia?) might be too costly to embark upon VERS even. But they live in landed households which is considered a huge luxury in Singapore?

 

Maybe wait till 90 years old then come to them?

 

I believe the priority is to VERS the studio, 1rm, 2rm and 3rm flats first.

 

I also curious to know exactly which flats are 70 years old. I don't have data on that.

 

[Kusje]

may i know exactly which estate? just curious.

 

Do you mean the hdb terrace? You can just google HDB landed, there are quite a few spread across the island.

 

For other older flats, you may google HDB SIT or tiong bahru SIT.