Singaporean worried he has no money for retirement after pay
-
Originally posted by baby hunter:
No....Housing agent
No wonder.
Resale price goes up.. you very happy yes ?
More people get shunted to resale market.. you very happy, yes ?
More foreigners come in to buy resale , you lagi happy , yes ?
Housing Agents indeed.
Why don't you go get yourself a REAL job?
-
Originally posted by jojobeach:
No wonder.
Resale price goes up.. you very happy yes ?
More people get shunted to resale market.. you very happy, yes ?
More foreigners come in to buy resale , you lagi happy , yes ?
Housing Agents indeed.
Why don't you go get yourself a REAL job?
-
Originally posted by charlize:
You are right, with loan tenors stretched to 30 years, likely you will still need to repay the bank tons of principal plus interest if you choose to sell off your flat midway through your loan.
Haiz.
Times are bad.
Funny.
When I flip thru the mortgage T&C, it doesn't sound anything like Andrea Bocelli, Luciano Pavarotti or Placido Domingo.
-
Originally posted by charlize:
You are right, with loan tenors stretched to 30 years, likely you will still need to repay the bank tons of principal plus interest if you choose to sell off your flat midway through your loan.
Haiz.
Times are bad.
Sipei bad arh! -
Originally posted by jojobeach:
No wonder.
Resale price goes up.. you very happy yes ?
More people get shunted to resale market.. you very happy, yes ?
More foreigners come in to buy resale , you lagi happy , yes ?
Housing Agents indeed.
Why don't you go get yourself a REAL job?
Why don't you go get yourself a REAL job?
Dont behave like a frog! Real Estate agent is not a REAL job??? only ppl like jojo working at senton way or raffles place, everyday wear sui sui, 9 to 5 then is consider a REAL job?? only ppl like jojo work 5 days week, draw a fix salary then is consider a REAL job???? only ppl like jojo after 10 yrs of working still drawing a same salary then come in here KPKB then is consider a REAL job???Resale price goes up.. you very happy yes ?
Narrow minded!!!! show that u know nuts about real estate. REAL ESTATE IS NOT ONLY = HDB
. &...how the pricing goes about HDB, we have ntg to happy about nor sad about it. we're serving the need, not the prices!! go & do some study abt law of Demand & Supply. More people get shunted to resale market.. you very happy, yes ?
Obviously, sudden increase of resales prices surely will make singaporean discomfort & worry....(jus FYI, I'm stay in HDB as well). If your can spend more times into the market & observe carefully rather then spend more times in this forums jus to KPKB. your will realize, increase of pricing, nt only from the demand of PR's buyers. there are lots of singaporean had sold their EA/EM, 5rm or 4rm flat from the attraction of the profits they might get! sitting with 100 over thousands of cash & go into resales market. then start to complaint the resales prices is too high, is crazy to buy lah...blah blah blah......they have forgotten, they already enjoy the profits from the current market!
-
Originally posted by baby hunter:
Why don't you go get yourself a REAL job?
Dont behave like a frog! Real Estate agent is not a REAL job??? only ppl like jojo working at senton way or raffles place, everyday wear sui sui, 9 to 5 then is consider a REAL job?? only ppl like jojo work 5 days week, draw a fix salary then is consider a REAL job???? only ppl like jojo after 10 yrs of working still drawing a same salary then come in here KPKB then is consider a REAL job???Resale price goes up.. you very happy yes ?
Narrow minded!!!! show that u know nuts about real estate. REAL ESTATE IS NOT ONLY = HDB
. &...how the pricing goes about HDB, we
have ntg to happy about nor sad about it. we're serving the need,
not the prices!! go & do some study abt law of Demand &
Supply.More people get shunted to resale market.. you very happy, yes ?
Obviously, sudden increase of resales prices surely will make singaporean discomfort & worry....(jus FYI, I'm stay in HDB as well). If your can spend more times into the market & observe carefully rather then spend more times in this forums jus to KPKB. your will realize, increase of pricing, nt only from the demand of PR's buyers. there are lots of singaporean had sold their EA/EM, 5rm or 4rm flat from the attraction of the profits they might get! sitting with 100 over thousands of cash & go into resales market. then start to complaint the resales prices is too high, is crazy to buy lah...blah blah blah......they have forgotten, they already enjoy the profits from the current market!
Tow Kay.... nowadays hor.. is internet age liao leh..
Soon real estate agents obsolete lorrrr...
You go see other countries.. the fate of the property middlemen are changing...
Nowadays.. buyers do their shopping online liao.. make offer online liao...
I suggest you get a real job hor.. ish not joking ok ?Good.
-
Originally posted by jojobeach:
Tow Kay.... nowadays hor.. is internet age liao leh..
Soon real estate agents obsolete lorrrr...
You go see other countries.. the fate of the property middlemen are changing...
Nowadays.. buyers do their shopping online liao.. make offer online liao...
I suggest you get a real job hor.. ish not joking ok ?Good.
actually the real fact
is when prices are low..
ppl dun want to buy ok
cant blame anyone
they always liek to wait and wait
aiya wait lar prices will sure drop one
then ok lor wait lor wait lor
then prices up ..
Blame who?
-
Originally posted by AH TRUTH:
Singaporean worried he has no money for retirement after paying for over-priced HDB flats
A Singaporean by the name of Kang Choon Tian has written a letter to the Straits Times Forum today expressing the concerns, worries and fears of many Singaporeans on the sky-rocketing prices of HDB flats – that they may not have any money left in their CPF when the grow old.
Mr Kang revealed that he took a loan of $80,000 some 20 years back and the interest came up to $70,000 after he had finished paying for his flat.
He is concerned that many Singaporeans may end up with little in their CPF accounts at current prices of HDB flats:
“The Government should look into this or Singapore may end up with many retirees with little in their CPF account, assuming an average household income of $3,000 to $4,000. Since HDB flat buyers may use 30 per cent of household income, they may be able to service their loans, but little is left for retirement. Besides, along the way, husband or wife may lose their jobs.”
He added that though Singaporeans may well afford to pay for their flats now, their ability to do so may decrease as they grow older:
“Buyers are allowed to take up to a 30-year loan. By then, their earning power may also diminish when they reach 60, assuming they bought their flat in the early 30s.”
More than 85 per cent of Singapore’s population living in public housing built by government agency Housing Development Board or HDB.
While HDB flats used to be easily affordable by Singaporeans in the 1980s, prices have ballooned in recent years caused partly by a limited supply of new flats and rising demand fueled by the relentless influx of foreigners into Singapore.
The prices of HDB resale flats hit a record high last year and increase by 8.2 per cent with median Cash-over-Valuation (COVs) doubling from $12,000 to $24,000.
In contrast, the median monthly salary of Singaporeans remain stagnant at around $2,600.
Despite rising frustration, resentment and anger on the ground over the increase prices of public housing in Singapore, National Development Minister Mr Mah Bow Tan and other HDB officials continue to insist that they are “affordable” to ordinary Singaporeans.
Mr Mah even chided first time home buyers for being “choosy” and said that “the onus is on Singaporeans to play their part by buying a home within their means.”
Quoting the affordability benchmark of 30 per cent used frequently by HDB to show that HDB flats remain affordable to ordinary Singaporeans, Mr Mah said a family with a monthly income of $3,000 can buy a flat worth up to $250,000 and spend only 30 per cent of their income every month on the mortgage.
“Similarly, a family with a monthly income of $4,000 can afford to buy a new flat worth up to $333,000 without spending more than 30 per cent a month on the mortgage. This means they can comfortably buy any of the flats offered in the latest BTO projects this month,” he added.
However, Mr Mah fails to take into account the bank interest rates and inflation over the years which will lead eventually to the family spending more than 30 per cent of their monthly income on the mortgage as pointed out correctly by Mr Kang above.
Furthermore, after depleting their entire CPF for these over-priced 99-year leasehold HDB flats, they will have little or no savings left for their retirement.
Mr Kang ended his letter by urging financial experts to give their take on the issue:
“Since there are many in this income bracket, I hope some financial experts will be able give their take on this important issue or Singapore may end up with many retirees with little to live on. Many buyers are not aware of the final price of their flat, including the interest over 30 years.”
Singaporeans who need a roof over their heads now are stuck in a quandrary. On one hand, they are unwilling to make a purchase at the height of the property market, but they are also worried that prices may continue to go up.
Minister Mentor Lee Kuan Yew expressed optimism that HDB is an “asset” which will continue to appreciate in value so long the Singapore’s economy is doing well, but what if Singapore were to enter another protracted recession as a result of a global financial crisis?
One does not need to be an economist to realize that there are always ups and downs in any market and it is impossible to expect prices of HDB flats to continue to be increasing forever.
With wages lagging far behind the phenomenal increase in prices, they will have to come down one day when there are too few buyers in the market who can afford to buy them or worse, come crashing down if foreigners were to leave Singapore in the event of a recession.
At the rate the prices are going up, some Singaporeans may have to wait till their parents pass on to inherit a roof over their heads.
What's your view?
If you are in Kang Choon Tian shoe, what would you do.
Let's discuss.
Dear Mr. Kang,
I believe you have a roof on top of your head now, yet with a household income of 3 to 4 k, that is typical a lower middle income class, enjoy your life now and bother less about selling and buying HDB resale flat or BTO flat again. Just stay put and keep quiet. There are many higher income peoples in singapore earning much more than you who can afford to sell and buy, resale is their playground, not yours, if you dun mantle with it, nobody is going to ask you to buy or sell anything. As for new flats, it is more for new young couples, which is still at a reasonable price, and most young couples are earning more than you.
The govt noticed that there are many onlookers and storytellers in nets and public talking and sing song about skyrocket flats, but these are not the players in the resale market, and if you are not a players out there to earn some quick cash out of resale and selling of properties, which you can hardly afford, it is advisable to keep your mouth shut. Because you dun really know what is going on.
Thank you and Happy CNY
Angel
PS for internal affair
-
Originally posted by noahnoah:
actually the real fact
is when prices are low..
ppl dun want to buy ok
cant blame anyone
they always liek to wait and wait
aiya wait lar prices will sure drop one
then ok lor wait lor wait lor
then prices up ..
Blame who?
blame property agents lah, they are the real estate agents rite? that is a real flat, they go around and cho cho peoples to sell, mark up the prices and make the whole world goes round. if my house is going for 2millions, if a 1% agent fees on both side, dun you think agents will be happily laughing all the way to the bank with every transaction.
And, another real fact is agents services are getting from bad to worse. If my Dad sell his properties again, i will do the admin for him, cut off those damn agents
-
Originally posted by noahnoah:
actually the real fact
is when prices are low..
ppl dun want to buy ok
cant blame anyone
they always liek to wait and wait
aiya wait lar prices will sure drop one
then ok lor wait lor wait lor
then prices up ..
Blame who?
IF they no need to buy resale.. they no need wait and wait..they only see what HDB direct price.
Let more Singaporeans sell their flat to resale and allow them to lease/purchase direct from HDB.
PR want resale..let them have resale.
-
Originally posted by jojobeach:
Tow Kay.... nowadays hor.. is internet age liao leh..
Soon real estate agents obsolete lorrrr...
You go see other countries.. the fate of the property middlemen are changing...
Nowadays.. buyers do their shopping online liao.. make offer online liao...
I suggest you get a real job hor.. ish not joking ok ?Good.
hai.....another pc kid
tot internet can make the world turn....aiyo....whr is our hope wif those kids nowaday....
yes! agents might obsolete one day....bt nt be in my life...that u dont nd to worry......
&....kids!!! nt everything can buy on line de....
-
Originally posted by baby hunter:
hai.....another pc kid
tot internet can make the world turn....aiyo....whr is our hope wif those kids nowaday....
yes! agents might obsolete one day....bt nt be in my life...that u dont nd to worry......
&....kids!!! nt everything can buy on line de....
Haiz.. another lau ah pek.
Good for you lahh... don;t live too long ok ? Good.
-
Originally posted by baby hunter:
hai.....another pc kid
tot internet can make the world turn....aiyo....whr is our hope wif those kids nowaday....
yes! agents might obsolete one day....bt nt be in my life...that u dont nd to worry......
&....kids!!! nt everything can buy on line de....
Oh, my sis is a kid...
-
Originally posted by baby hunter:
hai.....another pc kid
tot internet can make the world turn....aiyo....whr is our hope wif those kids nowaday....
yes! agents might obsolete one day....bt nt be in my life...that u dont nd to worry......
&....kids!!! nt everything can buy on line de....
I think it (nets) will take many many years to flats sells online.
Agents still need lah, cannot totally erase off. Then how about those pple never use nets?
Strategies move. Nothing is impossible. Everything is possible.
-
Originally posted by angel7030:
Oh, my sis is a kid...
just kidding eh ? Beer ?
-
-
Originally posted by jojobeach:
just kidding eh ? Beer ?
eh...sori, it aint beer, just had a johnny on the rock, isn't it nice to be a kid again...yeah! -
Originally posted by angel7030:
eh...sori, it aint beer, just had a johnny on the rock, isn't it nice to be a kid again...yeah!
"it aint beer" as it got the same froth and color of pee.Are you sure a kid can be served "a johnny on the rock" ?
Obviously you never ask to see one's "long john" before serving beer or "a johnny on the rock".
-
People can complain as much as they like online, its hardly gonna change anything
-
Originally posted by dadeadman1337:
People can complain as much as they like online, its hardly gonna change anything
Agreed. -
Originally posted by Atobe:
"it aint beer" as it got the same froth and color of pee.Are you sure a kid can be served "a johnny on the rock" ?
Obviously you never ask to see one's "long john" before serving beer or "a johnny on the rock".
haiz, another Jay walker
-
nowdays a lot of ppl complain
shit sia , i got money
but how come my penthouse sold!!!?
next time must pre book for me ok
-
Originally posted by dadeadman1337:
People can complain as much as they like online, its hardly gonna change anything
Bear in mind, Sir, complain is part of our hospital healthy programme, you see, my friend, we encourage patients here to complain so as to relieve their stress, who dunno nothing is gonna to change, but at least, we got this facility to allow them to de stress themselve thru self complaining, criticising and commenting. So, if you look it in this way, you help them to release their stress from their daily life. Personally, I had advocated myself to challenge them, that makes them more happier in a way that someone noticed them, you can also join in and comment on them. In this way, we form a healthy platform for discussion and also help them to relieve their long suffering pain and agony.Dr. Angel
-
Complain thru talk among your friends or colleagues are better in releasing stress rather than in the nets? Is that what you mean Dr Angel?
-
Come on, you want to buy low, sell high and make money isn't it.
Ok,that reasonable, but if all Singaporean can low, who is going to buy high for you to make money?
Do you really want the HDB to revert back to the "posted price" era? Where the flat price is strictly controlled.
Is there a government that gives its citizens free homes, and allow them to sell at market price? Malaysia? Would it be a good system?