Punggol East By-Election coming ? MP steps down
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Dora1:
Nope will never happen. Then where are the FTs going to stay? Renting HDB is a cheap option for the FTs and money making option for SCs. Suddenly drying up the supply of rental HDBs will upset the whole property market. How to achieve the $7 million target if the FTs got no place to stay?[/quote]Gov may just build dorms?
This part of what she said actually makes sense. But I think the change was implemented at a time when the property market was weak.pirate:
[quote=\"shine\"]Hi, hi, I’m just an ordinary citizen who bought my 1st HDB and have stayed there ever since. Know nuts about property and investment. I welcome the recent cooling measures but at the same time, do find some sense about this JannettLee comment about people hogging HDB flats after they got the 2nd private property.
My elder brother had to return his HDB flat at a loss as he was unable to sell it off within 6 mths after he got his condo many years back. What was the reason for the change of policy where HDB dwellers are able to retain their flats even after they got a 2nd property? Is it to reduce cases of people selling at a loss like what happened to my brother, or to encourage people to venture into property investment if they have enough cash? Kindly share your views and knowledge. Thanks.
So, don't be surprised if Cooling Measures 8 require existing HDB flat owners who buy a private property to sell their HDB flats within 6 months. And don't be surprised if CM9 requires existing HDB flat owners who also own private residential properties to sell either their HDB flats or private properties.
just kidding lar.
Integration will be a big issue to tackle, in the light of 1:1 FT/citizen, resident demographic planning is crucial. -
Moonsun55:
Fret not; it will be costlier to migrate to SG. May just attract the higher net worth category of immigrants with deeper pockets and not the anyhow wallop our property market for quick profit type.I am afraid with the 6.9m population target, foreigners with long term view will view sg prop as cheap even with 15% ABSD? :nailbite:
That is bad bad bad! I am still looking for fire sale! Missed the boat for 2009 low. :slapshead: -
Harlequin:
Higher networth not just buy property they buy expensive sports cars. They need to know that though their cars are not as big as truck they still need to drive carefully as our roads are narrow and don't anyhow beat traffic light. Don't become famous for the wrong reasons. Nowadays even standing on kerb also very crowded. When I see a speeding lambo or ferrari nearing, want to find a safer space to siam also don't have. :siam:
Fret not; it will be costlier to migrate to SG. May just attract the higher net worth category of immigrants with deeper pockets and not the anyhow wallop our property market for quick profit type.Moonsun55:
I am afraid with the 6.9m population target, foreigners with long term view will view sg prop as cheap even with 15% ABSD? :nailbite:
That is bad bad bad! I am still looking for fire sale! Missed the boat for 2009 low. :slapshead: -
pirate:
Urm, it's what JM Keynes said lah. Not abt investing per se but abt Econs.
Here's another piece of old time investing gem. In the long term, we will all be dead.Moonsun55:
I am afraid with the 6.9m population target, foreigners with long term view will view sg prop as cheap even with 15% ABSD? :nailbite:
That is bad bad bad! I am still looking for fire sale! Missed the boat for 2009 low. :slapshead:
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Harlequin:
:rotflmao: harlequin si Jin jia buay tahan....My late ah kong always use this term:- si lang ah kar kiah! (Teochew)
Quite apt!
Oh, ya, another of his favorite:- pah si kuan sai. :rotflmao:
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3Boys:
sleepy:
can't exactly sell at profit and then sleep under the bride right? So the purchase price (loan amount) is of utmost importance to most people whom I presume only own one roof.
I don't mind sleeping under the bride.....
Or can we sell the bride for a profit instead...... :rotflmao: 3b can joke Liao.... No more so pek chek.
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Dora1:
So that the HDB flat can be rented out to the FTs mah... if not the millions of FTs, where are they going to stay??shine:
Hi, hi, I’m just an ordinary citizen who bought my 1st HDB and have stayed there ever since. Know nuts about property and investment. I welcome the recent cooling measures but at the same time, do find some sense about this JannettLee comment about people hogging HDB flats after they got the 2nd private property.
My elder brother had to return his HDB flat at a loss as he was unable to sell it off within 6 mths after he got his condo many years back. What was the reason for the change of policy where HDB dwellers are able to retain their flats even after they got a 2nd property? Is it to reduce cases of people selling at a loss like what happened to my brother, or to encourage people to venture into property investment if they have enough cash? Kindly share your views and knowledge. Thanks.
And SCs will be happy mah, money making leh, who won't like? Win-win situation!
The only losers are the young couples trying to get a new flat to stay because of the sky rocketing price.pirate:
Thanks for your views, think I understand now. The change in policy was to drive up business in the construction sector at the time when property market was sluggish. However, when people started speculating and plunged into reckless investments by buying multiple private properties, property prices rocket up, and at the same time, created a vacuum for genuine 1st time HDB buyers when HDB dwellers hogged the flats.This part of what she said actually makes sense. But I think the change was implemented at a time when the property market was weak.
So, don't be surprised if Cooling Measures 8 require existing HDB flat owners who buy a private property to sell their HDB flats within 6 months. And don't be surprised if CM9 requires existing HDB flat owners who also own private residential properties to sell either their HDB flats or private properties.
Indeed, the problems were created by the “short-sighted” government, whereby policies created did not anticipate and respond in time to the changing economic environment, and only tried to put out fire by introducing many rounds of cooling measures when things started to spiral out of control.
Personally, I think the government needs to think through the whole situation carefully, and comes up with more holistic policies rather than in piecemeal form to solve each problem as they arise, so as to ensure they do not have to keep coming up with cooling measures. Building new flats continuously but at the same time allowing people to hog flats will never satisfy the ongoing demand for genuine buyers, especially when the increase in population is in the cards. -
To Chief Kiasu,
The recent posts on this thread are way way :offtopic: :offtopic: :offtopic:
It has become very :? :? :? I am hoping you will clean it up accordingly. :xedfingers: :xedfingers: :xedfingers:
I don't think Michael Palmer had anything to do with the recent property cooling measures or HDB under-supply
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shine:
Indeed, the problems were created by the “short-sighted” government, whereby policies created did not anticipate and respond in time to the changing economic environment, and only tried to put out fire by introducing many rounds of cooling measures when things started to spiral out of control.
To appreciate HDB's problem, one will have to trace the roots to the Asian Financial Crisis. http://www.stproperty.sg/articles-property/hdb/stock-of-surplus-flats-vanishing-fast/a/56774
In 2002, the stocks of unsold flats was at 17,500 ~ value of 4-5billion @ 250k per flat. Since building flats takes a long lead time, it has become inevitable that we will veer from surplus to deficit?
Meanwhile, we have the big economies of the world pumping money furiously into the financial system via QE, e.g. USA, Japan, UK, EU. All the hot money must find somewhere to roost, except where the politicians/central bankers intended.
P.S. During the property market boom (bubble) in the US (in spite of all the Harvards, Yales, MITs, etc), the government of the day did not think it was suitable to have any cooling measures.
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It is easy to just quote such example but what likelihood is such scenario going to happen? We know very well that likelihood of your example happening is almost zero. you forgot that given that there are 80% HDB & 20 privat properties, there are 4 fighting for 1 private so by virtue of economic theory, private to HDB prices should be 4:1 (hypothetically).
pirate:
If 1,300 sf HDB flat cost $500k and 1,300 sf private condo in the same area also cost $500k, which one will you buy?Moonsun55:
Why private drop HDB will drop? I don't understand & can't see any logic. can explain?
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