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

[dambio]

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.

Ain't looking good for locals born Singaporeans.

Oni benefits elderlies who bought it last time at a cheaper rate. Plus sc/pr foreigners.

 

[miko66]

Who did Elgenia vote for?

Is she 1 of the 65% ?

 

[GenXYZ]

65% already decided that this should be the future of Singapore. Can either keep complaining or ride the wave and make money. Choice is yours.

 

[buttbERry]

now all like that

upgrade using capital gain from previous property

 

[iceblendedchoc]

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

Elgenia

If no hdb transactions, all the property agents how to buy more cars and property !

 

[rjgiggs]

ive no problems with people wanting to earn money from their flat, even though that makes it harder for ppl who really want a flat to live in and not for investment.

what i dont like is property agents who claim you can create "generational wealth" if you sell your BTO and upgrade.

only i earn meh? the one im buying from dont want to earn meh? i sell alr i earn, i buy alr that guy earn from me, i net 0 isnt it? net 0 nvm i still have to pay additional taxes + reno costs.. simi generational wealth?

if they can find me a bigger flat at a higher floor, same location, at the same price they can sell my flat for, then lets talk.

 

[itedino]

Out in public u got surrounded by pap lackey. Crazy to go challenge them

 

[Philipkee]

65% already decided that this should be the future of Singapore. Can either keep complaining or ride the wave and make money. Choice is yours.

The wave won’t last. The only question is who will be the bag holder

 

[xLupDup]

Unless that take a flat fee.. otherwise they are part of the problem.

But dont think government will clamp down on property agents cause its still a job..

 

[sseasea]

WOT
Got samurai?

 

[ohnono]

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.

Where's all the MDRT agents!!!

 

[curahee]

I'm curious how long can this hdb boom last. It will stagnant and drop if the market no longer have the buying power to sustain the ever raising price. Pap have to make sure the salary level needs to keep increasing to support the price, but it will make us too expensive.

 

[econ food]

I'm curious how long can this hdb boom last. It will stagnant and drop if the market no longer have the buying power to sustain the ever raising price. Pap have to make sure the salary level needs to keep increasing to support the price, but it will make us too expensive.

The real hard situation..Is in 2035s onwards..these flats built in 1970s to 1980s..leases left 40 years..how to sell in resale markets..

 

[SBC]

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

Her parents-in-laws thanked the pty agents already?

 

[drkcynic]

Her in laws profited from the property market. Her husband is going to get a part of the inheritance.

She has a flat, if she got principle and doesn't wish to profit off it, she don't have to parttake.

What's the problem??

 

[chaiscool]

Even without RES pitch, does Eigenia think homeowners are kum gong and dunno their property price? They monitor even more fiercely than RES.

Got bubble mah, monitor price is missing the point.

I would think someone with a masters in economics have more sense than this.

What's wrong with the economics sense, public goods such as subsidized housing shouldn't be exploited. Private ones like condo/gcb then can squeeze.

Whats wrong with that?

Means screwing over others using public goods. Want to huat, stick to private housing market.

 

[charleslee1989]

The wave won’t last. The only question is who will be the bag holder

When that day comes, it will be a bloodbath at the GE for the PAP.....

 

[arcturuz]

I'm curious how long can this hdb boom last. It will stagnant and drop if the market no longer have the buying power to sustain the ever raising price. Pap have to make sure the salary level needs to keep increasing to support the price, but it will make us too expensive.

will continue to boom until population hits 10m bah

 

[charleslee1989]

I'm curious how long can this hdb boom last. It will stagnant and drop if the market no longer have the buying power to sustain the ever raising price. Pap have to make sure the salary level needs to keep increasing to support the price, but it will make us too expensive.

it is a cost-push inflation spiral....Who is brave enough to reset it?

PSP's proposal only suggested a new scheme nia to reduce BTO prices then kena 9696 from the electorate.....

PAP's PLH essentially curtailed the selling price of the Prime and Plus flats liao....They are essentially betting on people to sell off their P&P flats just shy of 1.5m now and get smaller HDB flats to live in....

 

[Nakshatra]

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?

"New citizens will grow old. TFR goes down"

The problem is new citizens, after cashing out their property and CPF, will grow old and may already have a family back in their hometown or whatever country they choose to retire in.

Leaving an empty shell here...........