include("cmp.php");

HDB really unaffordable

With the recent launch of BTO near $1M and EC near $2M, there is so much unhappiness. And of course, the minister will again come out and give you information or some survey that our public housing is affordable. Same as our lousy CPF retirement, the same survey company has been reused so many years to tell locals CPF is Asia best retirement scheme. Of course this is complete BS compared to Australia, China, Taiwan, Japan and even Malaysia EPF, they are either pension or they can withdraw all after 55.

In regards to the HDB becoming un-affordable. I give you some insights and of course there is google, HDB resale, BTO Sale and even some property companies publishing their stats to verify. My friend bought a 8 years old 4 room flat in the north east, just a year ago, it was $580,000 and when he bought 5 months ago, he paid $610,000. So yesterday, I went to check, the latest selling price is not $610,000 or near, the latest selling price is $730,000 and there are a few similar asking price!!! 5 months only, the price went up $100,000!!! You tell me affordable or not?

I went to check some lousy locations where the BTO sale price was $400,000 for 4 room, now they asking $750,000 after 5 years. Lousy locations asking even higher!!! If you looking at recent BTO prices, they are inching about $500,000 for 4 or 5 room, the good locations near million. The not so good, also cross $500,000 to $800,000; 3 room asking half a million.

Of course the minister will always choose one unit, not the average price, and tell you its affordable, they played the same game year after year, and sheep will read and accept his argument as usual. If they cant, they will tell you to buy within your limit, meaning you buy one bed room or two bed room unit. Then they will add these days all families are small sized, no need for big space, even for sex. I am believing 3 room BTO will cross half a million and be a norm soon.

Rental also went up sky, those normally $600 room are asking $1200 and above. And you think they are no takers? Nope, the massive immigration gates are widened beyond our imagination, they are tonnes of global talents rushing in to convert to locals or to get jobs. All recent above million transactions are PRC new citizens or PRs and massive number of condos purchased by some extremely rich, one such purchasing more than 100 units of condos.

Ok, there are many people who complained but still scare, they rather void their vote or vote to support this greedy party. My take is simple, is your situation going to improve? Some will say high price good, our property price will be profitable, but you sell high, you buy even higher?! Isn’t it? Who wins? The greedy party lo. Did your pay increase so much to afford million dollar BTO? How many years loan you going to take? Is your job secured with so many millions of flooding of third world global talents waiting to eat your lunch? If this keeps going up, how are your next generation going to afford?

You cant count on CPF to retire, everything else is amongst world most expensive, from COE to Utility to Rental to ERP to GST, your salary can sustain or not? I need to warn all of you seriously, especially next generation, if you want reasonable life, this greedy party has to be voted out ASAP. There is no solution to this critical problem affecting all of us. Do you agree or still scare?

 

WuJi

 

 

yyy
READER COMMENTS BELOW

13 Responses to “HDB really unaffordable”

  • opposition dude:

    No one believes HDB is affordable anymore, not when a resale unit that one is eyeing is easily close to or above half a million dollars. All those nonsensical reports that PAP loves to print are just wayang, they love choosing some high median income like 8k for a working couple and proudly proclaim you “only” pay a few hundred in CPF for your flat. Sure man. You pay that “few hundred” over a period of 20 years is how much liao? And don’t forget to add in interest hor!

    I see PAP losing more GRCs in the next election simply for their wayang of always saying they will make things better and end up doing the complete opposite. They know they are fooling fewer voters as the years pass but they can’t come up with any new tricks to fool people so the same few reports are just recycled every now and then.

    Do you remember the one they love to reprint every few months on “surveys” regarding the young on the issues they are facing? It’s the same old jobs, cost of living reasons but the same report is used twice a year or so proclaiming something will be done when all that is done is repeating the same old shit!

    GD Star Rating
    loading...
  • xoxo:

    No leh.Someone said $1K salary can afford 3 meals,BUY HDB ,send kids to school and maybe even *GO FOR GOURMET COOKING CLA$$* on a holiday in Switzerland.

    Only $1M mah.
    Why KPKB lah?
    We are Singapore,
    Mari kita berseru
    Maju-lah orang-orang Singapura.
    We R THE citizens,are we?

    GD Star Rating
    loading...
  • High price good meh ?:

    Recent resale 4Rm flat above $1.3M !!Who buying it ?
    Crazy price…good for Singapore ?
    Trouble for Singaporean ahead, especially next generation.
    HDB house should be really affordable and not cost too much so that Singaporean will have sufficient cash for meaningful retirements.
    What is the point if asset rich and cash poor ?
    Poor quality of life .

    GD Star Rating
    loading...
  • Loh KK:

    One good way is compare prices of flats sold by HDB around 1980s and now.

    I remember a 4A (104 sq m) sold at $70,500 at Lorong Ah Soo. For that kind of size, it would very likely sell for about $600,000 now. That would be about 9 times.

    Mind you, at that time, as a middle manager, I was earning around $5000. If I were still be working, I would only hope to get at most $18,000 now. This is of course, still “good”

    So, HDB price increased by 9 times while salary increased by less than 4 times.

    I took a mortgage of 5 years to pay off my whole loan then. But today, I would need at least a 20 year mortgage.

    GD Star Rating
    loading...
  • SINGAROAR:

    If you have to use retirement funds to pay for the mortgage of a public flat,it is no more affordable.

    GD Star Rating
    loading...
  • Billy ma:

    Singaporeans must follow PAP.
    as a responsible government, PAPis vert determined to do the right & responsible thing i.e. to increase GST.
    Every PAP minister & MP are in total unison to add to the burden & suffering of Singaporeans regardless.

    So it’s time for responsible Singaporeans to do the responsible thing i.e. to teach PAP a lesson thru your vote.

    Be responsible.

    GD Star Rating
    loading...
  • Trust only myself:

    I agreed decades ago …..but nobody trust me…..hehehe.

    GD Star Rating
    loading...
  • idontbelieveinccpbs:

    The next thing, they will do survey that family size is reduced as no one is having babies, all citizens should buy small flat of 2 bed room for half a million. Buy within your limits.

    Fyi my block and next block, so many 4 and 5 rooms selling above $700k and $800k all bought by China new citizens and PRs.

    This tell you a lot of migrants from China and HK to escape the national security law. And of course their parents all rich, they pay for their HDBs and our govt never change if they are actually washing laundry here.

    GD Star Rating
    loading...
  • Ponzi-Pyramid HDB:

    THe Property Pyramid Scheme continues.
    Need to bring in more human to fill them up.
    Some with fake degrees.
    Get caught only with whistle-blower.
    How many NEVER caught—good for property market.
    …”Man who paid S$1 million to company in hope of getting Singapore PR sentenced to jail for lying to MOM”
    …The ruse was uncovered after MOM received information on the possible contravention of the law in March 2021.
    https://www.channelnewsasia.com/singapore/man-1-million-company-singapore-pr-jail-lying-mom-3026321

    Loh KK:
    One good way is compare prices of flats sold by HDB around 1980s and now.

    I remember a 4A (104 sq m) sold at $70,500 at Lorong Ah Soo. For that kind of size, it would very likely sell for about $600,000 now. That would be about 9 times.

    Mind you, at that time, as a middle manager, I was earning around $5000. If I were still be working, I would only hope to get at most $18,000 now. This is of course, still “good”

    So, HDB price increased by 9 times while salary increased by less than 4 times.

    I took a mortgage of 5 years to pay off my whole loan then. But today, I would need at least a 20 year mortgage.

    GD Star Rating
    loading...
  • MarBowling:

    Those newly MINTED citizens should express their HEARTFELT Farking Thanks to Shortarse ex-World Class Housing Minister Marbok Tan(bluest-eyed and protege of MM[MasterMind]Lee Kayu)who SINGLE-HANDEDLY had made those HDB flats under his TENURE, HEAVILY SUBSIDIZED AND “AFFORDABLE”!

    Btw AFTER he took over from his predecessor with his SNEAKY Farking scheme of THINGY, he announced that HDB had been SUFFERING an ANNUAL DEFICIT of $2 billions!

    Patriotic folks should TAKE NOTE: TO PREVENT FURTHER LOSS TO OUR BELOVED COUNTRY, DON’T BUY THOSE “HEAVILY SUBSIDIZED AND AFFORDABLE HDB FLATS”. TRY TO STAY WITH YOUR PARENT, EVEN FOR THOSE MARRIED COUPLE WITH CHILDREN! THIS WAS EXACTLY WHAT MOST OF US OLDER GENERATIONS HAD BEEN DOING DURING THE EARLY DAYS FROM 1960s to 1980s! STAY UNDER ONE ROOF PUTTING ASIDE INCONVENIENCE AND DIFFERENCES WITH EACH OTHER!

    However, very pathetic and sad! Most youngsters don’t THINK THAT WAY! Nowadays, Notice in some multi-generation HDB flats, only the elderly folks are SAYING in these units! Sigh……

    GD Star Rating
    loading...
  • idontbelieveinccpbs:

    The massive number of new PRs and citizens from China is overwhelming, my estate overwhelmed. These are the people going to vote PAPPY.

    GD Star Rating
    loading...
  • MoneyOutOfThinAir:

    When system design to allow create money, those empowered to enrich themselves first and the lower fight to be rich and poor. Those can print to infinity are control by the same way like how easy to ban facebook account. The system owner can control who can print money and who cannot and what limit all decided by “experts” work together and get paid.

    HDB price is no exception to all things that has been monetised. Unless you start reverting to “not for sales” like communist and distribute by ranks then it become more obvious. Can power on sales like the richest buy its own position? Monetised to buy is extra step to convince you to work and earn money. Can country territory on sales? When labours are monetised as trade, you can call it slave trade when you are the lowest paid or when you get highly paid like Elon Musk then you can say this is an Olympic games where talents get the most money.

    HDB price is floating on top of all money rules of valuations and money printing.

    The rich get donation and subsidy to become Billionaires and Soros and Gates will print more money to donate to scale it up to any limit if government turn broke and could not afford the subsidy. The largest donor of the world is only those can print money. Learn more of CBDC from global summit worldgovernmentsummit.org. They will ask all corporate as all central banks can group together and print money. Look at how EU countries where ECB can print money. You will see riots in Europe expand globally. Russia is now out of BRICS but could be the first to use CBDC.

    Klauss Schwab reset order from WEF make all current fiat system collapse they rebuild new internet money that run across border which is energy efficient that only depend on their single click of approval and money appear. The money also can link to internet ID and criminal get fine and penalty without needs to issue summon or save time to send you letter to pay the summon. You will be imprison if you cannot pay the penalty. Any misinformation detected about covid fake news, your assets frozen and confiscated all by web3 and JP Morgan ONYX with Ethereum and NFT to record all properties values with NFT tokens. African and residents from Mars or Moon can come and afford HDB with $10million when those can print money grant 20mil NFT scholarship out of thin air.

    GD Star Rating
    loading...
  • MoneyOutOfThinAir:

    Ponzi-Pyramid HDB:
    THe Property Pyramid Scheme continues.
    Need to bring in more human to fill them up.
    Some with fake degrees.
    Get caught only with whistle-blower.
    How many NEVER caught—good for property market.
    …”Man who paid S$1 million to company in hope of getting Singapore PR sentenced to jail for lying to MOM”
    …The ruse was uncovered after MOM received information on the possible contravention of the law in March 2021.
    https://www.channelnewsasia.com/singapore/man-1-million-company-singapore-pr-jail-lying-mom-3026321

    The federal court will issue contempt of court as they will learn how to terminate those who leak confidential information like errection rigging. Errection of positions decide who can print money.

    https://www.texastribune.org/2022/10/31/true-the-vote-leaders-jailed/

    GD Star Rating
    loading...

Leave a Reply

 characters available


Scroll Down For More Interesting Stuff


Member Services
Self-SupportMembers LoginSelf-Support
Sponsored Advertisement
Search On TR Emeritus
Sponsored Advertisement
Announcement
Advertisements
Visitors Statistic
Latest Statistic

UA-67043412-1