1 Million EC
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titank:
Oh when can we revert to the old days where our parents or grandparent time where a flat just only at $9,800 to $12,800 depending it is 3R to 5R.
answer is never.
just like how our parents had full pensions, full healthcare cover (even including spouse)... those days, like policemen wearing shorts, will never come back again.
but I believe that a housing price correction will come soon. it might not be a large crash, but this rate of growth cannot be sustained. with the influx of hdb flats dd will not be so high, and hopefully the market will regain some sanity. -
titank:
Oh when can we revert to the old days where our parents or grandparent time where a flat just only at $9,800 to $12,800 depending it is 3R to 5R.
during the 1986 recession, graduates starting pay was S$500 per month, that is if they are lucky to be offered a job
in that kind of situation, HDB flats were much cheaper, and resale flats were priced by HDB-posted price......3 room model A cost S$57k only -
titank:
Oh when can we revert to the old days where our parents or grandparent time where a flat just only at $9,800 to $12,800 depending it is 3R to 5R.
My parents still live in the first-generation HDB, first-satelite town of Toa Payoh, in the first and only (4-room) flat they bought for the grand total of S$8,500 in 1970.
My mom is on pension and my Daddy freeloads on her, he's a first-of-his-kind stayhome Dad :love: -
If I did have a million (chance upon a lucky lottery number?), I’d save and invest it for DD. Who knows how expensive life and things will get in the future?
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titank:
Oh when can we revert to the old days where our parents or grandparent time where a flat just only at $9,800 to $12,800 depending it is 3R to 5R.
err... sorry but isn't that like asking when noodles will be sold at 20 cents a bowl... -
We can’t expect houses to be so cheap but at least it must be a reasonable price - especially for public housing.
For most of us, it will take 30yrs for us to pay off fully for our first home. For those who are lucky, they may get to upgrade a few years down the road.
My mum told me that she finished paying off for her current flat within 10 years and had the rest of her career years to build up her CPF. So now that she’s nearing retirement age, she knows that she can fend for herself without having to stretch out her hands for money from her kids cos she knows that we have a heavier burden.
They should rectify the prices of public housing soon - so that more young couples will be able to afford them and settle down earlier to start having kids earlier too. It’s a vicious cycle! -
the thing is that housing prices have increased from 8,500 in 1970 to 200,000 in 2010 but wages have not kept pace.
don’t think salaries have increased 23 times… even when you compare similar job scopes then and now.
wage growth severely lagging behind housing price index and some say even CPI. -
mrswongtuition:
there is no rule to say that they must OWN a house/flat before starting a familyWe can't expect houses to be so cheap but at least it must be a reasonable price - especially for public housing.
For most of us, it will take 30yrs for us to pay off fully for our first home. For those who are lucky, they may get to upgrade a few years down the road.
My mum told me that she finished paying off for her current flat within 10 years and had the rest of her career years to build up her CPF. So now that she's nearing retirement age, she knows that she can fend for herself without having to stretch out her hands for money from her kids cos she knows that we have a heavier burden.
They should rectify the prices of public housing soon - so that more young couples will be able to afford them and settle down earlier to start having kids earlier too. It's a vicious cycle!
rental is always a solution while waiting for the new flat from HDB -
toddles:
however, the quantum of capital appreciation from the HDB has also increased tremendouslythe thing is that housing prices have increased from 8,500 in 1970 to 200,000 in 2010 but wages have not kept pace.
don't think salaries have increased 23 times... even when you compare similar job scopes then and now.
wage growth severely lagging behind housing price index and some say even CPI.
that is how most people make their money to upgrade, not dependent on salary. -
but then you can only release the capital if you downgrade… assuming that you bought at a low. even then, the equity released is hardly substantial. not to mention negative equity, haiz.
overall, I think someone in gahmen wasn’t keeping their eye on the ball in the last 30 years. somewhere, something went seriously wrong and our generation is paying for it.
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