Why aren’t government doing anything about the crazy hdb prices?

[yobyella]

Why no cooling measures etc ?
They seriously think it is fine?

Monitor lizard sleeping. Losing another 3 or more grcs will make her wake up.

 

[KYZT2021]

when gonna have oversupply?

 

[ctstalin]

Willing buyer willing seller

 

[trax06]

Why no cooling measures etc ?
They seriously think it is fine?

Their mistake to allow hdb be sold on the open market. If current hdb cannot change atleast start with the next bto project onwards.

 

[yobyella]

If HDB prices come down, poomers will be very unhappy. Never offend poomers.

Why unhappy? One leg in the grave. Afterall if sell for a million dollars also cant bring over to the other world.

 

[thretiredDad]

BTO prices are PEGGED at a discount to re-sale HDB price

Case in point AMK BTO was 877k..

Re-sale going up, then guess what would happen to BTO prices?

Indeed HDB lost money to SLA, and SLA claims that they just converted Land to $$ so didnt make profit

Any experts pls enlighten me where the 877k went to ? Is it thin air?

Hdb bought the land
at market rate
then put a discount to it
to a level it is affordable
based on the demand of that area

 

[yobyella]

Their mistake to allow hdb be sold on the open market. If current hdb cannot change atleast start with the next bto project onwards.

True. Mentioned here many times. Existing flats status quo. But future bto after mop, sell/buy direct HDB/landlord.

 

[Mechafanboy]

Because it's not crazy. The reality is that sinkies are getting richer. If you think it's expensive, means you're not getting rich like everyone else

That is so not true. Previous gen can purchase a HDB with just a single breadwinner and pay off their loan in less than 10 years. Try repeating that feat today. It's nigh impossible.

The reality is, HDB has truly gotten out of touch. Helmed by rich fcuks who are very clearly out of touch. You might want to check out on Desmond Lee background.

 

[testerjp]

I don't think they said it's for cooling before. They only said needs to tax your lottery.

Many were very excited and happy with every measure. What they only want is the price to increase more slowly, not decrease.

The measures were more for creating more revenue.
Hdb is Singapore's biggest developer, why will they want to curb it.

Besides, most Singaporean stays in an existing hdb and the hdb is a part of their nett worth. What's wrong with enriching their net worth. For next generation, they could inherit or apply bto. They have a better start than the previous generations.

For those waiting for crash, 2025 should see prices rocket alot, as good as post covid type of increment. As companies take profit from equities, transfer to assets and lowering of ir. The best time to buy was last year when you can find some fire sale deals.

 

[trax06]

True. Mentioned here many times. Existing flats status quo. But future bto after mop, sell/buy direct HDB/landlord.

The process has to start somewhere but if they choose not to, it's clear they rather stick to status quo.

 

[thretiredDad]

This is quite a dumb take of the situation.

Fact is previous gen could afford their flats through single income. Blue collar income even.

Currently, most households require dual income with longer loan tenure to purchase a smaller flat, with a longer wait time and much more restrictions.

Have to be quite daft to not know that it is very much more expensive now.

Many household
bought bto
their plan was to sell after 5 years
for a profit
who cares how long your loan tenure
have to stretch

if you bought your bto
at $600k
you takes on 25 years loan
dual income
30% of both your income goes to paying

3 years later
key collection
your bto is worth $800k

will you tell yourself
to endure the 5 years
for $300k profit

just ask yourself this

You can only use 30% of your income
to pay your loan

 

[JustForFun]

Youngster are very worried as job security is uncertain and more and more regular retrenchments and low paying jobs ?

Crazy HDB prices delayed youngsters thinking of marriage and this contributed to lower and lower tfr ? Even those married getting high in age and unable to conceive or giving birth as well as other concerns on financial, high risk of abnormal or sick birth and so on ? More and more stay dink or singles or emigrated ?

 

[Lss]

So the old ppl can sell HDB and retire. Without taxing the government

 

[thretiredDad]

That is so not true. Previous gen can purchase a HDB with just a single breadwinner and pay off their loan in less than 10 years. Try repeating that feat today. It's nigh impossible.

The reality is, HDB has truly gotten out of touch. Helmed by rich fcuks who are very clearly out of touch. You might want to check out on Desmond Lee background.

i actually agree
if it is unaffordable
why are all bto so oversubscribed?

you cannot assume all sc
are still paid $2000-$300 each month
and nsf are paid $300

the ceiling is $12,000 now
and that is $6,000 each
using 30% msr
means maximum $3,600
can be used to pay for housing loan only
Each month

so you got to ask
why are these people
Actually living in bto?

 

[helloicanseeu]

Why no cooling measures etc ?
They seriously think it is fine?

the resale is private domain, in a democratic society, govt have very limtied powers to to interfere in affairs between private citizens

 

[dezzo69]

when gdp and their bonuses are tied to gdp, why would they try to do anything but make it worst?

 

[codexboy]

affordable what, after buy record price resale ppl still can spend more than 70k on reno

 

[Okmolly]

Why no cooling measures etc ?
They seriously think it is fine?

Cause they are monitoring

 

[Medicated Oil]

Not daft…

IBs got to work hard and hit KPI.

anyway either he or his next generation will be very jialat! Well deserved it..

The present and future gen will have some serious issue in repaying the house loan and their retirement.

 

[thretiredDad]

Youngster are very worried as job security is uncertain and more and more regular retrenchments and low paying jobs ?

Crazy HDB prices delayed youngsters thinking of marriage and this contributed to lower and lower tfr ? Even those married getting high in age and unable to conceive or giving birth as well as other concerns on financial, high risk of abnormal or sick birth and so on ? More and more stay dink or singles or emigrated ?

Many young people now
husband still studying
already applying for bto
told you already
you can only use 30% of your salary
for housing loan

means still got 70% for your other expenses