SDP’s Answer to the HDB 99-year Lease Calamity

Following the successful launch of our cost of living policy, the SDP will be presenting our housing policy where we will directly address the grave concerns Singaporeans have about the 99-year lease of their HDB flats.

The admission by National Development Minister Lawrence Wong that HDB flats will decrease in value until they become worthless at the end of the lease has come as a bombshell to Singaporeans.

This is because many flat-owners depend on their HDB flats as a nest-egg to be monetised for their retirement. They were guaranteed by the PAP that prices would never drop. Now that they realise that they have been misled wholesale, the anger and anxiety is palpable and intense.

How can such a catastrophic turn of events be resolved?

The SDP will propose a realistic and workable solution to this problem that will offer the country a way out of this mess that the PAP has created. We will present this proposal at

Event: Launch of Housing A Nation: Holistic Policies for Affordable Homes
Date: 6 April 2019, Saturday, 2-4 pm
Venue: SDP Office – 3 Ang Mo Kio Street 62, #02-30, [email protected]
This event is open to the public

This is the second of a series of alternative policies that the SDP will launch as we announced in our Campaign Kick-off in February this year.

It is another milestone in our development as a competent, constructive and compassionate alternative party. Our objective is to tell Singaporeans of our vision for Singapore so that they have a reason to vote for the SDP, not just against the PAP. There is an alternative to the PAP.

 

Singapore Democrats

 

 

Sponsored Content

15 Responses to “SDP’s Answer to the HDB 99-year Lease Calamity”

  • Bondage:

    SDP has the answers. Pappies sleep in pariahment………this is the difference!

    When you get fed……..well fed……….you just sleep

    Look at Chee Soon Juan ……….he hungers to contribute……….to improve……..so what are you guys waiting……………..scare wife………….scare police……….you yourself have served NS police and so………….?

    Voting is scared………it’s protected by law it’s secret……….go check the rules and the law………NOBODY can check how you vote…….

    So VTO! Remove the sacred cow! Don’t kill yet!

    GD Star Rating
    loading...
  • Get CPF money out of HDB flat:

    One solution to the problem is for the Government to start topping up the CPF accounts of owners of old (30 years or older) HDB flats using Budget surplus and/or reserves. They should also be encouraged, if not required, to sell their flats asap (or alternatively use the HDB Lease Buyback Scheme) within 5 years so they can put their money back into their CPF account and earn 2.5% per annum asap. The amount used to top up their CPF account will be deducted from the sale proceeds when they sell their flats and paid back to the Government.

    Relaxing the rules on the use of CPF money to buy old flats is the wrong thing to do. It makes HDB a Ponzi Scheme. CPF money is being used to take out CPF money stuck in an HDB flat. More retirement savings (CPF) should be taken out of a depreciating asset like an HDB flat instead of putting in more. The goal is to minimize loss of value by taking money out of a depreciating asset.

    GD Star Rating
    loading...
  • learn and copy:

    This event is open to the public

    This event will be infiltrated by the PAP spies wanting to learn and copy the ideas of the SDP and later to claim they have come up with a brilliant idea.

    SDP, make a video of the event and date stamp it and upload it onto YouTube.

    Better still, broadcast it later on a HDB housing and retirement crises event in Hong Lim Park.

    GD Star Rating
    loading...
  • good luck SDP:

    why give PAP a chance to steal your hard thought up plans, SDP?
    You know they will!
    why not reveal all at coming GE campaigning?
    you’ll also get a wider audience then.
    all the best !

    GD Star Rating
    loading...
  • LIONS:

    If,and only if,more from 70 PCT wake up,they can at once REALISE HOW SGS AT SDP especially the MULTI-ASSASINATED DR CHEE,are WORKING TIREDLESSLY for the ADVANCEMEMT OF OUR SGPOREANS’ COMMON GOOD.

    DR CHEE N HIS TEAM,TOGETHER WITH THEIR RESPECTIVE FAMILIES,particularly DR CHEE’S FAMILY,HAVE BEEN UNDQUNTINGLY SERVING sgs even as MANY PREFER TO BELIEVE THE BAKED NEWS OF MSM against Dr Chee which are BASICALLY FAKE NEWS.

    I hope next GE MORE SGS FROM 70 PCT GROUP WAKE UP AND SEE THE WISDOM OF HAVING GOOD OPPO MPs in parliament to COUNTER THE HARMFUL EFFECTS OF THE ARROGANCE OF SELF-$erving PAPies whose policies n policy practices are DESTROYING all that we have built for our beloved Sg n for our families.

    Thanks SDP,YOU ARE OUR SDP INDEED!

    GD Star Rating
    loading...
  • I'm halimah also jiak liao bee:

    SDP should be aware that the PAPIGS are totally retard and without any workable solution to this calamity despite paying the,selves with their obscene salary.
    SDP should not disclose whatever plans they have till GE time, knowing how the PAPIGS copied ideas and rebrand them as their own.
    Just look at how they jump on the cost of living issue and NTUC came out with their holding prices wayang.

    GD Star Rating
    loading...
  • oxygen:

    @ Get PF money out of HDB Flat

    Agree with much of what you have said except one key point you have overlooked.

    It is the issue of EMBEDDED ENTRAPMENT- IT is those flats fully paid up that trapped the most CPF money. So topping up with budget surplus or reserves did nothing for them. I got a better suggestion. Read on.

    To sustain the value of older flat, PAPpy can revised the law (HDB Act) and give all peasants an equitable interest in the land which peasant paid for. In law, it is tenancy in common even though the land is not physically divided and allocated to each HDB buyer. It is the land which gives value as HDB buyers can also en bloc them at will like private condo.

    The other option is to grant all buyers a legal right of “tenancy at sufferance” meaning the last occupier can stay on beyond 99 years without the consent of HDB until mortality but cannot on sell in resale market. In this way all flats have residual value at the end of 99-year expiry.

    Get CPF money out of HDB flat: One solution to the problem is for the Government to start topping up the CPF accounts of owners of old (30 years or older) HDB flats using Budget surplus and/or reserves. They should also be encouraged, if not required, to sell their flats asap (or alternatively use the HDB Lease Buyback Scheme) within 5 years so they can put their money back into their CPF account and earn 2.5% per annum asap. The amount used to top up their CPF account will be deducted from the sale proceeds when they sell their flats and paid back to the Government.

    Relaxing the rules on the use of CPF money to buy old flats is the wrong thing to do. It makes HDB a Ponzi Scheme. CPF money is being used to take out CPF money stuck in an HDB flat. More retirement savings (CPF) should be taken out of a depreciating asset like an HDB flat instead of putting in more. The goal is to minimize loss of value by taking money out of a depreciating asset.

    GD Star Rating
    loading...
  • oxygen:

    @ Get CPF money out of HDB flat

    “TENANCY IN COMMON” and “TENANCY AT SUFFERANCE” are property law concepts in applications in many countries.

    Google those words to find out more.

    GD Star Rating
    loading...
  • 柑林内:

    八字都还没有一撇,就说已成功实行(successful launch)

    真的是太不可思议!

    GD Star Rating
    loading...
  • Anonymous incognito:

    2 solutions
    1) give people the title to their apartment
    2) make sure the blocks can last for 100s of years. Govt here is far too quick to demolish 50-60 year old buildings when other countries still use 500-600 year old buildings that have been continuously renovated

    GD Star Rating
    loading...
  • Boh Kia See:

    I think PAP may not copy SDP’s policies on Housing. Remember the basic premise on which all PAP actions are based. That is that all PAP actions should benefit themselves and their party.

    SDP’s policies over a range of issues tend to benefit the people and address their needs; not the PAP’s. Therefore it is unlikely for PAP to copy. They may cannibalise some aspects of it and turn good policy into rubbish–to only benefit the PAP.

    If you recognise this principle of the PAP you will understand their actions and know why they have to be removed in their totality and the public services be cleansed before Singapore can move forward.

    This woman who indicated that she may want to “serve” Singapore if called to do so, know the pathway to succeed in Singapore. Primarily you need to hold a PAP membership card–it will open doors for you. Hospital visits, other GLC companies, PA will open their doors for you. That is the way to be a success in Singapore. Not having a PAP membership card—well, just look at Dr Chee.

    VTO the PAP for a better life for you and your children.

    GD Star Rating
    loading...
  • RDB:

    @Bondage: March 28, 2019 at 4:50 pm (Quote)
    =========

    Voting in Sg with pap as govt since 1959 is secret? Wait lomg long for you to grow up and have some wisdom hor!

    GD Star Rating
    loading...
  • Flabbergasted:

    1) Convert all to restricted freehold
    2) Can only be sold back to HDB
    3) Only citizens allowed to purchase
    4) Rentals allowed at 50% surcharge to HDB

    GD Star Rating
    loading...
  • The Educated Dafts:

    good luck SDP:
    why give PAP a chance to steal your hard thought up plans, SDP?
    You know they will!
    why not reveal all at coming GE campaigning?
    you’ll also get a wider audience then.
    all the best !

    SDP has little to worry even though stealing is in the grain of PAP.
    To copy SDP policies calls for changing the greedy DNA of PAP.
    This is near impossible for PAP, there is a solid 50 years record to prove this.
    To do the way SDP is doing now calls for policy transparency and scrutiny, this is yet another area impossibile for PAP because PAP’s strength is in Wayang and lies, at best is just tikum tikum try and error, so they will never be able to mimic the openness of SDP’s approach.

    Many educated dafts have been doubting and lamenting “what can the oppositions do for me”? Though PAP has not done much either, other than screwing dafts with high cost of living, SDP is showing clearly to these hopeless dafts what SDP can do.
    It’s time for these kaopeh Bobian losers to show if they really want to DO IT, to change the government, to change the status quo.

    GD Star Rating
    loading...
  • Sad situation:

    The HDB housing situation is a sad situation for many…

    Broken dream and broken promises for one retirement needs…

    GD Star Rating
    loading...

Leave a Reply

 characters available

Member Services
Self-SupportMembers Login
Sponsored Advertisement

Search On TR Emeritus
Sponsored Advertisement

Most Recent Comments
  • NotMyProblem: @Lim Tean; Let’s face it, there are people who love to be slave. Slaves do not need to think....
  • DoYouWantTheTruth...: ..and nothing but the truth? Then I think in the future, there will be a lot of complaints and...
  • Bbc: Nus and police appear to be sexist for treating peeping criminals against women so lightly.
  • Bapak: Now we understand why so many youngsters have to consult IMH. They are so confused taking completely naked pix...
  • No Dafts or Dogs Allowed: The fire had already started long ago. Problem is 70% daft frogs are still sitting on it....
  • Flabbergasted: what happened to our champion of rights, san-mu-kan ? so quiet over this episode? say something lah,...
  • patriot of TUMASIK: Cry for Thatman: Sorry, I disagree (btw, I didn’t thumb you down, apparently someone...
  • Great Asia: Those people listed are all angmoh worshipping Bananas. They are just leftist or Rightist Bananas! All...
  • AristoCATs cant Handle d Truth: > SG ” is not ready for a minority PM” - It is Fake News - Just like...
  • Great Asia: Democracy, Equality, Justice, Peace & Progress.?!!!! Democracy = The Bible = Christianity = A...
  • patriot of TUMASIK: FAKE all the WAY…with Fake 1st World status leading The WAY!!! and FAKE is a four letter...
Announcements
Advertisements
Visitors Statistic
Latest Statistic
Advertisements