Those DINKs can pawn future Generations

[ceestudent]

BTO was created to meet supply and demand, however, it has become a flipping entity for people to make money these days. Once MOP up, flip and the next owner needs 30 years to pay off, which at current market, HDB hitting 1m and up, 30 years is hardly enough, and debt is rolling higher already.

I don't understand why you think that people who buy 1mil hdb is overstretch their finance here?

First of all, HDB resale is also subjected to stringent 30% MSR (even if you take bank loan). So the buyer profile is either high income or paid high downpayment sum. In both cases, their loan repayment is max at 30% of their monthly income.

Of course you might argue again that in the past 1 single income is enough to service the loan, but this is another story. Most developed country will require dual income to survive.

 

[EJB]

I don't understand why you think that people who buy 1mil hdb is overstretch their finance here?

First of all, HDB resale is also subjected to stringent 30% MSR (even if you take bank loan). So the buyer profile is either high income or paid high downpayment sum. In both cases, their loan repayment is max at 30% of their monthly income.

Of course you might argue again that in the past 1 single income is enough to service the loan, but this is another story. Most developed country will require dual income to survive.

Of course for the established, worked their way up and is reaching boomer status now, it's not overstretching, but down the road, their kids?

The kids will have to bear the brunt of owning such high priced flats and their kids thereafter.

30 years is a long time and interest rates are rising non-stop, high flyers can afford but the domino effects drop downwards. If you have one child, yes you can 'leave' the flat to them.

If you have 3, 4? Even if you can help one downpay, the other 3 also can? Past is past, we moved and improved lives to having 2 incomes, but the increase is exponential, not linear.

Salary increases linearly y=x-2 at best, but goods, services, COL, increased exponentially y=x^y.

 

[Autumn.]

unless the G start Taxing married couple with no children

 

[administrator88]

Don’t hate the player

 

[Eliwood]

Actually I was referring a lot to needs. Wants (holidays, tuition, straight As, medical school, cars etc) aren't really factored in my reply.

BTO was created to meet supply and demand, however, it has become a flipping entity for people to make money these days. Once MOP up, flip and the next owner needs 30 years to pay off, which at current market, HDB hitting 1m and up, 30 years is hardly enough, and debt is rolling higher already.

I'm totally with you on the stretching portion, which I see many does, I still see many wanting to own a 300K car when spread over 120 months, they don't even take spend the equivalent on taxi/PHV.

You totally hit the spot!!!

The same thing for ppl choosing to buy resale instead of BTO i feel.

Even within BTOs, there are cheap and expensive options.

 

[LoUsyGamER]

unless the G start Taxing married couple with no children

haha. then people dont get married.

Own 2 BTO 2 rooms, if not wealthy.

If wealthy, 2 condos or 2 landed.

All without absd.

 

[louisoh]

blowing bubbles now... is see which generation blink first.

 

[noname2016]

Your parents must have a not so enjoyable time raising you. Do you give them allowance every month? It is not an insulting comment but a mathematical deduction.

Yes I give 1k a month. I do not see a link between my comment and my parents. once you bring in other people parents as some kind of rebuttal and saying things like “your parents must have a not enjoyable time raising you”, it only reflects how low class you are. My parents raised me to be someone who can understand different perspectives and I give 1k because I can afford it and they went to great lengths for me. But I’m not surprised you ask the question - must be one of those parents who see their kids in term of dollars and cents and how much ROI they can get.

 

[parchiao]

All said

end of the day is cost of living too high thanks to PAP

PAP have a very big hand in contributing to DINK

and DINK will regret not having kids when they are old

 

[Kegler]

I've been to more countries than you can imagine or thought I haven't.

Houses are made for citizens to live in, not to enslave them, if a government can't provide job stablity and housing for it's own citizens, then the government would have deemed failed. It's a bit flawed to say they shouldn't care for every single citizen, if so, then they shouldn't hold office. Every mother father son daughter of the country is to be included.

Please tell me which country has done better? I want to migrate over.
The balance in job opportunities/medical/social security/safety
Sometimes it's easier to complain, then make any effort to get things working .
Since you have been going around, please enlightened me ....which country has done better than SG?

 

[Nemesis_lane123]

BTO build and MOP and sell, around 8-10 years.

If during that time the DINK pay still can buy another BTO is also quite sad la.

Even if can qualify. Second timer very difficulty to get a BTO..

 

[curahee]

They keep revise the income ceiling to allow more ppl to join in to play this flipping game. They create this game, now cannot stop.

 

[Nemesis_lane123]

DINKs, Singles, Elderly will have their best 20 years...
Why?
Low Taxes, Workfare, Friendly Govt Initatives.

Those with kids, good luck to you.

Not to forget those with kids easier to get PR in other country. Leave Elderly and Singles behind , see how long the economy can tank on an ageing population. U see what is happening in Japan right now. Nowdays so cheap to go Japan. They have to tolerate huge foreigner tourist influx. So much for Dink culture.

 

[Nemesis_lane123]

You are mistaken to think that the DINK will be better off. You can say those with children can also end up like DINK, but you refuse to say DINK can also end up like those with children in the financial sense.

Money can always save, but whether have someone to care for you when you are alone is not something we have a solution in the foreseeable future.

And you need to accept that the probability for one half of a DINK to die alone is higher, and not just focus on the outcomes with smaller probabilities to console yourself.

Get married and have children, life will become more meaningful.

Actually this holds some truth.

My former colleague Dink. Wife and him own one condo and one hdb. Wife wanna stay condo. Anyways fast forward now he early 50s, he can't tahan work quit.

Told wife gtta sell condo, wife say better to divorce. I am not saying the wife is wrong as she said cos u dun wanna work dun expect me to change my lifestyle for u. My former colleague Dink the life sibei jia lat. Own one condo one hdb but every month only got 1200 to survive. Life really jia lat. Frens also siam cos so many things he cannt join. His wife go out enjoy dun bring him as dun wanna pay for him as he cannt pay fr atas place. When u are older , sure want ppl who got money Accomodate u do hobbies, bowling, drink, travel. That's y many poor seniors u see basically no fren die alone one.

I realize Dink like any two humans as they grow older will have their own aspirations and liftestyle, may not compromise as get older. Those with kids are always comprising and like accommodating. Of course have marriages with kids fail also. Must look at the end state not the beginning. Look at how two dinks will life toge age 50+.

But truth remain fr many Dinks they want their own way of life. My brother told me as he dun want kids. He rather not got married. He dun like to Accomodate any partner much. If he dun like the person , he can break up. That is his logic that if Dink esp as a man why get married. You are limiting yourself for nothing other than the BTO and really losing out. I see my brother every few years he got new GF. He mostly happy do what he wants. He looks v young for age 36, hair still long, black n thick. Exercise he look quite solid. I agree with him he dun want married or kids as from young his character dun like to Accomodate others and quite introverted. I think marriage or having kids may not be fr everyone.

If between Dink and be single , I think I would choose Single esp as a man. There are so many options. I agree with my bro. Even dun reply WhatsApp also no gal will bother him. Lol

My bro gd with kids. Weekly visit parents he will play with them just that limited interaction he ok. He the type most days do what he want. I think not bas esp if you are a guy and not looking to have kids.

 

[Nemesis_lane123]

Govt can sell bto cheap and ppl can pay up in 10 years or earlier. Can sell 4 rm flat for $50K? Then 3 years only can fully pay up everything.

The whole system is inter-linked. BTO price based on resale and vice versa. Private also linked to this equation. They have a relation with one another. The govt would nv do smthng random like that without causing a shockwave to the market.

Imagine if govt, price 4 room at 50k in prime area. Then resale hdb fall to 100k, private property fall to 200k. How many bank defaults, job losses, companies closing will there be. Foreigners will pack up also. To a certain extent, we may also be migrating if such a crash ever happens.

Reducing price does not equate to a better outcome for Singaporeans.

Rather targeted approaches work better. If one is poor, can choose standard flats at less desirable areas like 3 room. I myself got a 3 room when I started after uni. No shame to me even though parents , friends will like saying ppl will laugh at me.

Fast forward a decade later I have an almost paid up sizable place. The issue I see tdy is many ppl want a pinnacle at
Duxton with an Yishun or Sengkang price.

Anyways with property supply catching up we might see stagnant growth soon. Actually B4 COVID. Hdb prices were falling between 2011-2018. Expect to see the same soon.

 

[Nemesis_lane123]

If you have children, they will take about 25 years at most to grow up but will take care of you when you are 50 all the way to 99 years old and that is you contributing for 25 years and enjoying for 49 years isn’t that good? If you have many children the results is multiply by say four children is x4 each give you $1500 per month is already $6000 per month passive income?

I have 2 kids but would not want them to provide fr me in old age as things will be costly enough fr them.

My logic is that my retirement is my responsibility.

 

[Nemesis_lane123]

No kids can eat at dtf 3 meals a day.
got kids can only eat cai png for life.
choose 1

Not true fr everyone with kids leh. I got 2 kids. We have a helper who like v gd at cooking. We stock 2 fridge with wagyu beef, Salmon. Every meal gd leh. Tdy my helper made some new enoki bacon and some truffle mash potato dish. V solid. We sent her fr course then now she v creative.

Anyways with helper the gd news is that once a week my wife n I go fr date night nice place. Weekends usually all meals eat out. We are not high salary. Not so jia lat leh. Lol.

 

[Nemesis_lane123]

Kids are created so that govn can continue to tax and have more population to tax.

Less population, less taxes. Kids are no longer for the benefit of having a family, it has become a form of GDP, that's why many aren't interested in having kids anymore.

Having kids means having to worry for them, plan their future, their rat races, ECAs, tuition, school, university etc. Not to mention the ever growing prices of housing, why raise a kid when you can't enjoy it?

This is from the perspective of not having a kid.

They also bring a lot of fun, laughter, meaning and joy which money cannot buy.

 

[Nemesis_lane123]

Thats why i mentioned many times. Sinkies shld only have 1 bite for BTO! Not twice.

The professor Chua Beng Huat said cos it was like last time many got 3 room. Then when family upsize the govt allowed the second time fr then to get 5 room.

Seems now everyone is gaming the system n going fr 5 room first. N then another 4 or 5 room after.

 

[Capitalist]

They will die regretting they never did what they were intended to do.

alone

rotting

corpse

Many folks with children .. spent most of their lives tending after them, worrying and cleaning up their mess.

Earn and spent on them.

And in the end, some still pass on …

alone

rotting

corpse