[Consolidated] s-ghost threads on property and insurance agents

[mynickname]

It's disingenuous to blame the agent rather than the owner for wanting a higher a sale price

You mean it's not buyers fault?

 

[icebleue]

Each year, 3% of HDB flats are transacted. Buyer have to give in to seller demands because the government does not implement correct policies to limit runaway prices. In fact they love it for some reason.

The same reason they continually allow private buyers to flip sub-sales. So prices always climb at least $300k upon TOP because some buyers have no choice. This also cause prices to increase $300k every 3 years.

Just like stock market, whenever prices climb on thin trade volume, high prices are very likely to correct.

But you have to blame dumbos are buying them…
Especially when they are way above the valuation value.

 

[highsulphur]

You mean it's not buyers fault?

Its neither the buyers or sellers fault but rather the supplier of the flats (ie hdb)

 

[JAson1980]

This poster very sneaky...Pick only the non-mature estates' median resale price lol....

You know i know, everyone knows.

 

[RinoaX]

Question is. She voted for who?

Anyway I'm glad to screw the next generation with 2-3mio resale. They voted for this anyway.

 

[ghregular]

 

[GarnetDragon]

 

[Insatiable_creat]

Hdb would disagree. Pegging bto prices now!

 

[Ethan_]

strong mandate liao, if hdb resales don’t hit minimally 1mil by 2030 then how we going to plan for retirement? best time to switch industry to property agent confirm huat ah

Keyword retirement. Think for most ordinary people, only the initial batches when they opened the floodgate for asset enhancement, then can have a sudden windfall. As they are sitting on unlocked potential value, thus can afford to fund the property purchase base on capital appreciation. As the new and resales prices then have not caught up with each other yet.

But now think the market corrected liao. Most who sell new at high price tend have to buy the next property at even higher price, and their profit from the sales tend won't be enough to cover for the price of the next property. Thus they will have to pump in more of their own money. If they are high income still ok. If not, difficult to move up much.

Some more most still have to have the house to live in, only when sell then can profit. But if want to see any real cash, especially for retirement use, then they will have to downgrade eventually so as to squeeze out that profit as cash. If not, the profit is just paper value they cannot use.

Only when its not their only house, they really invest it for capital appreciation, then they can truly say its a great investment. If not, for most ordinary people they still have to eventually face the reality of having the house and the cash, and still maintain the quality of living. Something have to give. Which think the reality incumbent plan for most in current market is downgrade to lower quality of living.

 

[Sibeihaolian]

whats wrong with making more money..........

on the side note i want hdb to hit few mil to finance my overseas retirement........

Eh… if you have kids, they will be the ones having to buy mil $ hdb flats… so technically they are the ones financing people’s retirement…

 

[xdivider]

Eh… if you have kids, they will be the ones having to buy mil $ hdb flats… so technically the are the ones financing people’s retirement…

Dun care. No kids.....

edit: i used to be naive to care, til fren told me majority wanted this, might as well sponge their kids for medisafe, cpf life and retirement. pays to have smart frens.......

 

[Capitalist]

Agents now go door-to-door in Build-To-Order (BTO) estates reaching MOP, pitching dreams of windfall profit. They feed the belief that housing prices can only go up, dismissive of ageing demographics, falling birth rates and economic uncertainty. They argue that limited land supply and the Government’s cooling measures guarantee resilience. They peddle a narrative that property is a haven, a wealth generator and a status symbol.

Have we seen indicators contrary to this?

After all, what ultimately matters is, .. what's truly happening, ... and not what we THINK (but can't prove) is going to happen.

 

[Velton]

Looking forward to sell my place for 8m. Shake leg and retire overseas.

 

[iceblendedchoc]

This poster very sneaky...Pick only the non-mature estates' median resale price lol....

beggars cannot choose mature estate, pap will tell them got choice to select from non mature is very good already

 

[esandwich]

actually in context, 500k bto 30y loan is 1k+ a mth repayment.
garment have increased quite a bit on cpf contributions, so a dual income couple womt need to touch cash servicing their mortgages.
the key job of the garment is to ensure singaporeans continue to be employed.

 

[grevq80o]

Forum: Singapore’s public housing market needs a reality check​

Four years ago, I wrote about public housing affordability as a first-time buyer (A battle between prudence and emotion in buying HDB home, Dec 28, 2021).

Now, at the precipice of my flat’s Minimum Occupation Period (MOP), I am bewildered. A property portal estimates I could make $200,000 in capital gains. Even older flats have appreciated beyond inflation, despite imminent lease decay. A deluge of fliers from property agents urging home owners to upgrade may explain why.

The Government’s efforts to boost housing supply and temper prices are commendable. But beyond supply and demand, exuberant price expectations fuelled by property agents are distorting the market.

In the 1980s, my in-laws purchased a flat in Tampines for $100,000. Over time, they upgraded to private property, with most of their home ownership journey funded by capital appreciation. Today, they live mortgage-free in a condominium in East Coast _ a testament to the outsize capital gains once possible in the housing market.

But Singapore has already transited to a First World nation, and we are unlikely to see an encore performance of the economic conditions that allowed for such windfalls. Yet, property agents continue to pander to our intrinsic desire to profit from public housing.

This is partly systemic. Property agents benefit from higher prices and more transactions. Their incentives are misaligned with sustainable home ownership, yet guard rails remain weak.

Agents now go door-to-door in Build-To-Order (BTO) estates reaching MOP, pitching dreams of windfall profit. They feed the belief that housing prices can only go up, dismissive of ageing demographics, falling birth rates and economic uncertainty. They argue that limited land supply and the Government’s cooling measures guarantee resilience. They peddle a narrative that property is a haven, a wealth generator and a status symbol.


This culture worries me. I have seen peers overextend themselves chasing property dreams. One pooled family savings just to show proof of funds for a larger loan. His mortgage now consumes 60 per cent of household income. Irrational exuberance has trumped financial prudence.

We should stop sensationalising million-dollar HDB transactions and crack down on irresponsible advertising by agents who promise cash-over-valuation deals or encourage buyers to over-leverage. Such measures, alongside the new HDB Resale Flat Listing service, can promote greater transparency, lower middleman costs, and empower Singaporeans to make financially sound housing decisions.

While we cannot undo the commodification of public housing, we can curtail those who stoke unsustainable expectations. We should not wait for the next boom-bust cycle for housing prices to normalise. A soft landing requires decisive action now – before optimism turns into a crisis.

Elgenia Wong Tien Min

How many dinners did property agents blanja the Desmond Lee?

 

[Holytyphoon]

it just screws the young buyers.

Anyways sg median age is 42.8 eh? Next GE will be 42.8 plus 4 or 5. So it will be which party can maintain my HDB price and secure my retirement.

Let the young ones suffer with mortgages. People like my parents who benefitted from HDB rising price obviously happy since they gg retire and hdb worth million.

Still can tell me govt got help young ppl buy subsidising more than last time. But pls la, last time 1 father can feed whole family (wife + 2 kids).

Now leh? Unless high flying jod, else also need 2 ppl to feed

Is okay, just welcome new shitizens and make the young ones suffer.

U know whats the best thing?
Most young one are relatively politically unaware, many vote for the incumbent as it definitely seem more atas to do so.

 

[coyote]

strong mandate liao, if hdb resales don’t hit minimally 1mil by 2030 then how we going to plan for retirement? best time to switch industry to property agent confirm huat ah

 

[plmokn]

Thought there's cooling measures?

 

[twodragon]

I actually have a question regarding next generation

Our population is increasing but TFR is low. Who is causing the population increase?

Fine. You say new citizens. But TFR is still low. So what is the conclusion? That new citizens are also not giving birth?

Then next step. New citizens will grow old. TFR goes down. Now you need to import even more citizens who might also grow old and still don’t give birth.

See the spiral?

yes my gen give birth one is shot gun

most married also dont give birth, is just move out of parents place and hoot HDB make $$

yep, we will just keep importing and 65% approves

I truly wonder when people will realise as our NS population gets lesser yet population keep increasing. Will it still be 1.2mil NSmen when we hit 7 mil population?