Saturday, July 24, 2010

HDB prices hit new high!

The prices of HDB rose by 4.1% in the 2nd quarter (April - June) of this year[Link]. This rise is also mirrored in private properties which rose more than 5% in each of the last 2 quarters of this year - that is a whopping rise of more than 10% in 6 months. There are many negatives associate with the increase in property prices. Property prices rising much faster than income means that ordinary Singaporeans have to take up more debt for housing. The price rise also worsens the effect Singapore's income gap which is already the highest among developed countries - middle and lower income families have to purchase smaller homes and are unable to upgrade while wealthier Singaporeans more than 1 property can enjoy the wealth effect of higher prices by selling at these lofty prices.

Things are not going to get better with another 100,000 extra foreign workers that PM Lee said will be here in the coming months. They too will need housing and that will worsen the situation. In the recent BTO for Ponggol Waterway Terraces, the number of applicants was 18 times the units on offer. We have a very hot market set to get hotter in the coming months unless HDB does something to meet the demand. One can argue whether we are in a bubble or not. Bubbles are obvious only on hindsight. However, price rise that is so much faster than income growth means that the debt burden for ordinary Singaporeans buying homes has increased rapidly in the past few quarters. For an economy that depends on workers to be faster, better and cheaper, rising debt burdens and increase in cost of living will undermine their ability to save, cause their living standard and quality of life to fall and lower their ability to start a family and have children. The govt is asking workers to be cheaper while it does little to arrest the risning cost of housing.

Last week NMP Viswa Sadasivan urged the govt not to focus solely on GDP growth[Link] and use other economic indicators that measure the general well being of the ordinary Singaporean. I would go even further than that by saying that the high GDP growth is negatively correlated with improvement in quality of life for a large segment of the population. For many Singaporeans, the GDP growth in recent years simply translate to increase cost of living without the correspondng rise in wages. It has to do with the way the PAP govt generate such high growth by importing foreign labor. When the economy grows, you see headlines like the on today's Straits Times "Resale HDB Prices hit new highs" but you won't see headlines like "Wages of Singaporeans go up by 5% last quarter". ...as property prices, transport costs, utility rates, conservancy charges rise to negate any economic benefit of growth.

55 comments:

Anonymous said...

Dear Mr Lucky

This "cheaper" worker and high expenses thingie is simply the new caste system. Modern slavery without the chains and whips.

This is inevitable when you have kings and lords.
Historically there are 2 ways to resolve this.

Solution 1: 42 Mr Lucky(s) to step forward. Eg. Early America.

Solution 2: Massive plague/event that wipe out most of the peasants ala Black Plague that took Europe out of the Dark Ages by making serfs valuable (supply/demand). I heard the rise of Christianity (with its investments in Science to compete against the Islamic faith) also helped.

Does option 2 sound better for you?

One solution guaranteed to failed: blogging comfortably from home

Anonymous said...

singaporeans like to blame the got.... but actually a govt is the product of the people. we are paying the price for decades of see no evil, hear no evil.

Anonymous said...

In 1996, property prices also shoot through the roof but more due to speculation than demand. At that time foreign talent is not so much a hot issue then.

The govt then introduced anti speculative measures. The effect is almost immediate and last for more than 10 years till 2008. Property prices were then in the doldrums and few hundreds of thousands dolars below its peak.

So I think the govt learnt something from that episode. That is, cannot introduce measures to curb property price rise. That's why now you see they do very little on this compared to 1996.
The higher the property price, the merrier.

This also causes people's CPF to be depleted by housing payments. Hence no need to return CPF money to the people when the time is due. Or better still create CPF life to delay payment by assuming people can live to 90 or 100 years old, which most don't. I may be wrong on this logic, so welcome other comments to rebut it.

Anonymous said...

@ anon09:14

What solutions are you talking about?

Who the hell really want changes? Most people just wanted to rant, Lucky is blogging for fun and let ranters and whiners having a outlet.

I am sure most people here have got their HDBs, probably including Lucky. When come to serious matter like voting, I am sure most people will know that it is important to vote for the PAP in order to maintain their asset( as in HDB) value.

Anonymous said...

The following message is for Poor Singapore Citizens:

Poor Singapore Citizens, please give up your flats to Permanent Residents and Rich Singapore Citizens who already own private property so that Permanent Residents and Rich Singapore Citizens can own the high rise in flats price.

If you, the Poor Singapore Citizens, cannot afford to buy a flat, this is your own business.

If you, the Poor Singapore Citizens, are too poor to own a flat, please go to East Coast Park to build a tent and sleep there.

--------------------------------

The following message is for Permanent Residents and Rich Singapore Citizens who already own private property:

Whether you like it or not,

price of flats will increase by 100% within the next 3 years,

price of flats will increase by 500% within the next 6 years,

price of flats will increase by 2000% within the next 10 years.

In 10 years time, flats will be valued at S$5 million for a 5 room flat.

Please hurry to buy for yourself a new flat now if you have not own one flat.

Please hurry to upgrade your flats if you already own one flat.

If you are the buyer, please pay sky rocket price to the seller to buy the flat at unreasonable price.

Anonymous said...

Mr Lucky Tan Sir;

this post was logged in at 0500 hrs, me surmises that many policy matters and social situations have made You disturbed and sleepless(Insomnia). Though me guesses You're most likely a highly paid professional or businessman, You're chivalrous by nature. Despite taunts and unfair digs, your sense of righteousness has not been doused. Me am impressed and thank You sincerely for the services You are rendering to the people.

Housing prices have been rising like the recent floods, though they(prices) are not acts of god, the prices are shooting up due to the the lack of supervision and control by the regulation god. The Regulator must be a very democratic god to let prices move freely. In any case, price increases add much values to the gdp and the gdp then benefits the parliamentarians. State administrations are the duties of parliamentarians, will they regulate to disincentivise themselves? Or to do away with advantages, gains and benefits that they covet?

Housing prices and costs are not all totally affecting Singaporeans negatively. Those that can sell of their properties at a much higher price than they paid for them stand to gain profitably. Those who have not own any and starting a family would be adversely affected. Due to such a paradoxical situation, there is a dire need to balance the situation for balance social developments.

The most critical damage in the runaway housing prices is similar to the damaging floods. Should the bubble burst, it will be ugly and lousy situation except for the privileged few who by some premonitions were/are ready and eager for it to happen. They will do their killings again.

Spiralling property prices have been accompanied by price increases in everything elses from utilities, transports, educations and anything that has a value. It has reached a level where many Singaporeans are praying for the interventions of the divines. Singaporeans know they are not able to depend on their leaders for any hope of solving the problem of cost of livings. They cannot help themselves, they cannot depend on their leaders, so the final and only wish is that something disastrous to wake up some people with the power to make cahnges and amends.

Like to end this comment by saying something most have heard; 'god helps those who help themselves'.
Me an atheist, so i wait for conscience to return to those who can change things for the better.

patriot

Anonymous said...

Mr Lucky Tan Sir;

this post was logged in at 0500 hrs, me surmises that many policy matters and social situations have made You disturbed and sleepless(Insomnia). Though me guesses You're most likely a highly paid professional or businessman, You're chivalrous by nature. Despite taunts and unfair digs, your sense of righteousness has not been doused. Me am impressed and thank You sincerely for the services You are rendering to the people.

Housing prices have been rising like the recent floods, though they(prices) are not acts of god, the prices are shooting up due to the the lack of supervision and control by the regulation god. The Regulator must be a very democratic god to let prices move freely. In any case, price increases add much values to the gdp and the gdp then benefits the parliamentarians. State administrations are the duties of parliamentarians, will they regulate to disincentivise themselves? Or to do away with advantages, gains and benefits that they covet?

Housing prices and costs are not all totally affecting Singaporeans negatively. Those that can sell of their properties at a much higher price than they paid for them stand to gain profitably. Those who have not own any and starting a family would be adversely affected. Due to such a paradoxical situation, there is a dire need to balance the situation for balance social developments.

The most critical damage in the runaway housing prices is similar to the damaging floods. Should the bubble burst, it will be ugly and lousy situation except for the privileged few who by some premonitions were/are ready and eager for it to happen. They will do their killings again.

Spiralling property prices have been accompanied by price increases in everything elses from utilities, transports, educations and anything that has a value. It has reached a level where many Singaporeans are praying for the interventions of the divines. Singaporeans know they are not able to depend on their leaders for any hope of solving the problem of cost of livings. They cannot help themselves, they cannot depend on their leaders, so the final and only wish is that something disastrous to wake up some people with the power to make cahnges and amends.

Like to end this comment by saying something most have heard; 'god helps those who help themselves'.
Me an atheist, so i wait for conscience to return to those who can change things for the better.

patriot

Anonymous said...

Mr Lucky Tan Sir;

this post was logged in at 0500 hrs, me surmises that many policy matters and social situations have made You disturbed and sleepless(Insomnia). Though me guesses You're most likely a highly paid professional or businessman, You're chivalrous by nature. Despite taunts and unfair digs, your sense of righteousness has not been doused. Me am impressed and thank You sincerely for the services You are rendering to the people.

Housing prices have been rising like the recent floods, though they(prices) are not acts of god, the prices are shooting up due to the the lack of supervision and control by the regulation god. The Regulator must be a very democratic god to let prices move freely. In any case, price increases add much values to the gdp and the gdp then benefits the parliamentarians. State administrations are the duties of parliamentarians, will they regulate to disincentivise themselves? Or to do away with advantages, gains and benefits that they covet?

Housing prices and costs are not all totally affecting Singaporeans negatively. Those that can sell of their properties at a much higher price than they paid for them stand to gain profitably. Those who have not own any and starting a family would be adversely affected. Due to such a paradoxical situation, there is a dire need to balance the situation for balance social developments.

The most critical damage in the runaway housing prices is similar to the damaging floods. Should the bubble burst, it will be ugly and lousy situation except for the privileged few who by some premonitions were/are ready and eager for it to happen. They will do their killings again.

Spiralling property prices have been accompanied by price increases in everything elses from utilities, transports, educations and anything that has a value. It has reached a level where many Singaporeans are praying for the interventions of the divines. Singaporeans know they are not able to depend on their leaders for any hope of solving the problem of cost of livings. They cannot help themselves, they cannot depend on their leaders, so the final and only wish is that something disastrous to wake up some people with the power to make cahnges and amends.

Like to end this comment by saying something most have heard; 'god helps those who help themselves'.
Me an atheist, so i wait for conscience to return to those who can change things for the better.

patriot

Lucky Tan said...

Patriot,

I haven't got to the part when it falls apart yet. Only one quarter of the pain is felt during the rise along with the euphoria and intoxification for some. The mess comes when the rise stop as we have seen in Ireland, US, UK and Spain...and Japan 3 decades ago.

There were useful lessons for us. But each time people think it is different and Singapore is special (so was Japan and Ireland!). We have one more thing that is unique...our entire retirement strategy is build around property ownership...so guess what happens when it all falls a apart....they will just say it is not possible to prevent the financial mess...perhaps it will be a one in 50 year event.

For a boom that depends on foreigners we have to look no future than Dubai - when things go wrong, they go doubly wrong when the foreigners pack up and leave.

Kojakbt said...

Many PRs are willing to buy at high price cause they are prepared to rent out the other rooms so as to help pay the mortgage. For a $300K bank loan, they can easily rent out 2 rooms at $600 each to meet the monthly loan payments. Which means they practically stay for free.

Singaporeans will seldom do this kind of things unless they are desperate. The main difference is this, we treat our houses as home. PRs treat them as temporary domicile.

In my view, PRs shouldn't even be allowed to buy HDB resales. They, like other foreigners, should just rent. Otherwise, they can go buy private flats.

Anonymous said...

Dear Lucky Tan;

thank You for the fast response.

THE LEADERSHIP IN SIN were and are very well awared of property bubble bursts that happened in Japan(specifically Tokyo), Europe and recently Dubai.

This is just my personal view that what is happening in our country and how it affects the People and the Rulers are entirely of two matters. The Country(without nationhood) itself right now does not seem to be in the Equation. I tend to feel that the whole country itself has been turned into a whole property 'For Sale'.

Me thinks that in all these property transactions, some very privileged Singaporeans are benefitting infinitely. AND THESE SINGAPOREANS ARE THE TRUE GLOBALIZED CITIZENS THAT NEED NOT BE ROOTED TO SINGAPORE. These are the very people who will have investments, properties and other assets in FOREIGN LANDS. SO WHATEVR HAPPENED TO SINGAPORE ARE OF NO CONSEQUENCE TO THEM. Some may even wish that Singapore can be totally flooded, afflicted with wipe-out diseases, so that they can have all the reasons to emigrate and not be accountable for anything that had ever happened in SIN.

WHAT MATTERS TO THIS PRIVILEGED GROUP IS TO GET EVERY DOLLAR INTO THEIR OWN ACCOUNTS.

Right now, three groups of people stay put in SIN. One group comprises of those with no means of escape or to fight the injustices of living in SIN. The other group is likely to be in the very minority, these are the people who are very rooted here, they can afford to migrate and live the good life too. However, they love this tiny dot too much to say sayonara.

ONE LAST GROUP that comprises the die hard samaritans who not only can afford to get away from it all and live good life elsewhere as they mainly intellectual and professionals, they choose to stay with the Group that can't escape. Me believe that many Bloggers are here. It includes Lucky Tan in my opinion.

Btw, me am sorry for the multiple postings of the same comment. Mr Tan can You kindly remove the surplus ones.

Thank You from:

patriot

http://vonhayek.blogspot.com/ said...

I speculate our government may have gone into deeper trouble. The outward facade manifest as a immigration issue. But inside, PAP may have already bankrupt the country.

Have any of us think why abnormalities like SG and HK has high property price? The reason is simply because our elites refuses to be fairly tax. In a normal country, the tax must be at least 20% for middle class and progressively more for elites.

Hence the rapacious government need the middle class to bear the revenue burden all in the form of skyrocketing property.

Further advantage of property system is that it allows greedy elites more spoils by colluding with government in rigging the property market.

I have now a gut feel that government may be somehow short of revenue. To cover that, it need to rigged property even more by importing foreigner.

http://vonhayek.blogspot.com/ said...

To draw parallel situation from HK, the property market in HK has been fairly reasonable before 1949.

After that HK witness a flood on refugees after the communist took over. That set the stage for supercharging property.

I think PAP just want to duplicate the situation here.

Whats more outrages in HK then is, the elite refuses to properly settled these refugees, they are to be milked by a crooked property market.

In fact, while property in HK rocketed, there are actually still plenty of undeveloped land in HK.

Similarly here, there are simply more rooms and undeveloped land in SG. The government simply do not want to build although they are taking in large numbers of immigrant.

I think the middle class would have no future unless we kick off PAP.

http://vonhayek.blogspot.com/ said...

The problem of Singapore needs to be solve by overhauling its political and economical system.

First, we have a rapacious civil service and elected officers that is the highest paid in the world.

The monies come from us.

On the other hand, we have the lowest income tax in the world simple because our elites refuses to be progressively taxed.

The 2 paradox can only be resolve by milking extraordinary on middle class in terms of property.

There is no way to lower property without going in red because our civil service is expensive.

And there is no way of cutting civil service pay because of the system.

Anyone joining the civil service will realized its not modern management but run feudalistically. Such system simply prevent embarrassing turnover unless they are well-paid.

jamesneo said...

Hi i post again my question i post in the post stock market update. Is the HDB prices allowed to rise because of the false feel good factor of false asset appreciation or is it because the government is trying to conveniently fund their big projects by using our cpf to buy the government bonds which they issued? By doing it this way they can use the money to "stimulate the economy" and make the GDP look good and can afford to make the tax low as long as possible which benefits the rich(them) but suck it dry from the middle and lower class.

Anonymous said...

Properties are not easily liquidated. Once you place your bet here, you may have to let it sit for some time to see some real returns - if the authorities have their way. So if foreigners have the means and want a stake here, they are most welcome because, it can also work for our advantage.

Attempting to see from the gov perspective, I think we are unlike japan and the others mainly because we are a very nimble and young nation. So the strategy to maintain a firm and tight property market may just work here.

Like the minister said, your nest is for the long haul.

That said, the strategy is familiarly MM style.

But when the knowledge fills the earth, I am not sure whether that strategy will hold.

Anonymous said...

Hi jamesneo,

There are certain 'benefits' of allowing property prices to keep escalating.

Firstly, the rich gets richer, as only the rich can afford to invest/speculate in property. The poor 'consumes' property, so rising prices only makes life harder for them.

Secondly, rising prices brings in more revenue for the govt through taxes, land sales, etc.

Thirdly, rising prices result in higher GDP 'growth', and thus larger bonuses for some people.

Just my 2 cents on what their incentives are.

Anonymous said...

I think the middle class have also joined the property speculation craze. Look at the number of mickey mouse dogboxes appearing in my area East Coast. Most of these dogboxes are 300 square feet at $1200psf but absolute quantum is around $450k which is within budget of most middle class who have $80k to spare as downpayment and borrow the rest. These risk-taking highly-leveraged middle class obviously make quite a bit from the property market speculation as well. Many of them are property agents themselves.

http://vonhayek.blogspot.com/ said...

I believe LKY is crazy right now he gonna bring us disaster unless someone can lock him up in IMH.

While Honkies are able to brood punishing real estate, a large number of Malays reduced by PAP to uber-underclass makes whole thing different in Singapore.

Soon misfortune and health care gonna drive many homeless. The Malays being more educated will realize who is the culprit in breaking their life. They will refuse to listen to their PAP endorse mullah and Singapore will be Jihad infested. There are already cases of self-radicalization.

Anonymous said...

I am currently living in 5rm flat fully paid. Am I happy that my asset has gone up. The answer is NO. I rather have a stable and affordable flat prices which is good for everybody. I dread to think of the day when my children need to start a family of their own. How are future generation going to sustain with such a high property prices ? This is not the nation which I once knew.Cost of living is high,stressfull lifestyle ,overcrowded to the extend you feel being a minority in your own country.

Anonymous said...

If private property prices rise and hdb prices dun, the class divide would have been wider and the clamour of unhappiness louder; that hdb prices are moving in tandem with the property mkt is good except to those endowed with crooked minds and tots. As long as my flat sells for more why shud i care for your family's woes? This is not a communist state, sorry.

Anonymous said...

PAP is so addicted to the easy money from selling a $50k flat for $450k, it will never allow property prices to fall. In fact they seem to be doing all they can to ensure property prices continue rising, by aggressively importing 100,000 foreigners to work here when there is already a massive shortage of housing.

The PAP government is dead bent on boosting property prices at all cost, even at the expense of the country's future.

Anonymous said...

trying to depress property prices when the economy is rising rapidly, is not that going backwards? what has a natural occurrence like that got to do with any party in particular?

http://vonhayek.blogspot.com/ said...

Re Annon 24/7/10 22:36

////////////////////////////
If private property prices rise and hdb prices dun, the class divide would have been wider and the clamour of unhappiness louder;
//////////////////////////////

Re: Go back study economics 101. Red hot property market like ours is never market phenomenon but due rigged property market. It only enrich speculator and property developers transferring all your hard earn income to them. Income inequality increase.

/////////////////////////////
that hdb prices are moving in tandem with the property mkt is good except to those endowed with crooked minds and tots.
////////////////////////////

Re : Its good for the old and HDB owners but definitely not good for the young. You now pay $500,000 for HDB due 99 years, your son may pay $10 million just to buy a 99 years toilet. Only dick head like you think its good.

//////////////////////////////
As long as my flat sells for more why shud i care for your family's woes? This is not a communist state, sorry.
//////////////////////////////

Re:
I would be foolish to comment on shameless person showing his wickedness.

http://vonhayek.blogspot.com/ said...

Re Annon 25/7/10 01:51

//////////////////////////////
trying to depress property prices when the economy is rising rapidly, is not that going backwards?
//////////////////////////////

Re: The property is on bull even during the worst recession ever seen since independent. This is a result of a rigged market.

////////////////////////////////
what has a natural occurrence like that got to do with any party in particular?
////////////////////////////////

Re: Our property market is definitely PAP wicked plan. The fact there is no property bubble in many prime European cities such as Berlin shows that real estate prices is closely related to development policies of government.

Anonymous said...

For existing flat owners, unless they own at least one other property, they cannot lock in the gain in rise of flat price as they still have to stay in the existing flat.
If existing flat owner choose to downgrade, while they can sell at high price for the existing flat, they also have to buy at high price on the downgraded flat. The seller has to pay back to the CPF, money that had been taken out to pay existing flat plus interest that could have been earned with that money. In addition, they have to pay for other cost like selling & buying commission to property agents, administration cost, renovation cost of flat and transportation cost. After minus all these costs, the gain is greatly reduced.
Even if the existing flat owner is not affected by the high rise in price of flats, their children will still be greatly affected. Even if they have no children, how about their nephew or niece. These are the younger generation who have the most closer personal relationship with the existing flat owner.
Anyone who say they do not care for other family is not true as your family will be affected by the high rise in flat price. The only exception to the above is that if you are the loner in this world, then of course life is meaningless to you for you have no one to care for.

Anonymous said...

who says house no value? plenty value to your children when you die.plenty of value to the children of their children when they die and so on.
loner? no problem. your dogs will benefit from your death.


problem solved!!

Anonymous said...

In ST today, you will read about a guy who owns 92 properties. His monthly income from rental is $A300, 000( rental alone beats our PM salary) and we have not even scratch the surface of his real estate business.

And you know why he is soooo rich?

He relishes on FIRE SALE!

That's right. If we don't have a stable and FIRM property market(not one moment up and the next down - up all the time is definitely better than down because too low, these farkers will feast like nobody business too),

People like this insatiable barracuda will have hard working, but unlucky, folks properties for their gut bursting breakfast!!!

Tell me, isn't that a greater social injustice?

Kojakbt said...

@Annon 24/7/10 22:36 - "Re : Its good for the old and HDB owners but definitely not good for the young. You now pay $500,000 for HDB due 99 years, your son may pay $10 million just to buy a 99 years toilet. Only dick head like you think its good."

Actually I might add that from my conversations with many SG folks, even the older HDB flat owners are not too happy with the sky high HDB prices. Most I've talked to said that if they sold their high price HDBs, they would still need to pay high price for another house to live in.

Many are in fact worried for their children who might not afford the sky high price houses in future. And in this case, as parents, they may have to chip in and help!

Anonymous said...

property agents are laughing to the banks and we all know why, don't we?

Anonymous said...

If you have more than one child, you can only have one married son/daughter or a grown up child above 35 years old to inherit the flat. All the other children still have to buy flats from somewhere.
Can a flat owner transferred the lease of flat to all his/her children? Answer:No

At the time when the flat's lease is transferred to one of the children, the number of years of lease remaining is less. This happen, say 30 years later when children grow up. The number of years of lease remaining will be a dominating factor when determining the price of flats. With less number of years of lease, value of flats has to fall. Can the value of flat, when the lease was 84 years remaining, be more than the value of the flat 30 years later, when lease is 54 years remaining? Answer:No

Anyone who answer "yes" to the above 2 questions is cheating.

Anonymous said...

Apparently, some fucking idiot do not know the meaning of stable.

Anonymous said...

All will be well if the Rich want to stay Rich.

However, the Rich are not satisfied with being Rich. Nooo... they want a larger slice of the pie.

All will be well if the Rich do so by engaging in activities that increase their pie by growing the pie through constructive activities. e.g. Like Warren Buffet.

However, a majority of the Rich are focused on growing their share of the pie. Their activities do not grow the size pie but grows their share of the pie.

Some example of these activities:
- rich who stay in private properties and rent out HDB flats
- unchecked growth of conglomerates such as KouFu which has seen escalating stall rentals, translating in escalating costs.

In the long-term, escalating property prices benefit only those who have their hands on multiple properties, i.e. the property developers, the rich, those who have ultimate rights to land.

Everyone else just pays.

Maybe that's the whole idea...

Anonymous said...

you neber say $$$$$LIMY PROPERTY AGENT$$$$ !!!!

u must be a property agent talking prices down horrrrr.

Anonymous said...

I think the property bubble will burst soon. The current high is due to "irrational exuberance" from our higher than expected recent GDP figures. It is really an anomally. Elsewhere this year, only a small number of emerging markets saw higher than expected growth. in Brazil, China and India, growth has slowed down. You don't need me to point out Europe and US are in deep recession and will continue to have negative growth in the next 1-2 years at the very least. One doesn't have to be an economist to know next year, with our economy closely linked to the US market, we'll be lucky to get 5% growth. So if you have property to sell, sell now and make a good profit. But if you are buying, I'll wait ~1 year - the bubble will burst soon.

Anonymous said...

I know of many successful agents who own several properties. One in particular always travel by public transport, how strange.

Anonymous said...

Hey lucky,

Here's a new (actually old) topic.
http://sg.yfittopostblog.com/2010/07/22/are-mrts-really-that-overcrowded/.
There are photos and videos.

Anonymous said...

Hey lucky,

It's me again.
Have a look here
http://sg.yfittopostblog.com/2010/07/22/singapore-could-be-my-next-home-hollywood-actress-ming-na/

Anonymous said...

http://vonhayek.blogspot.com/ said...

"Re : Its good for the old and HDB owners but definitely not good for the young. You now pay $500,000 for HDB due 99 years, your son may pay $10 million just to buy a 99 years toilet"


if you dick head didnt hedge for your son's future, that's your fucking problem.

Anonymous said...

I know of many successful agents who own several properties. One in particular always travel by public transport, how strange.

Some people focus on properties around MRT.

Anonymous said...

i read that we are teaching our kids to be more outspoken like our western counterpart.
one day, i was enjoying a scenic view and a young lady came up to me and tapped on my back. i thought she wanted my help with her camera. instead, she asked to mind my private space because she wanted a shot without me in it.

now how artificial can you get huh?

http://vonhayek.blogspot.com/ said...

Re 25/7/10 14:51

////////////////////
if you dick head didnt hedge for your son's future, that's your fucking problem.
////////////////////

Re : Yes are right. We need to hedge our future generation by getting rid of PAP and landed wealth.

Thats what I have been trying to do now.

For those who like to pay $500 000 for 99 years property and homeless when everything vaporized at 100 years, I have a suggestion.

You could hedge your son's future simply peddling his asshole to property developer in case he does not even has the monies to buy even a toilet.

Readers, the debasement of our future generations into slavery and prostitution is exactly what PAP want. I am already quite convicted.

Anonymous said...

The Millionaire Real Estate Agent: It's Not About the Money...It's About Being the Best You Can

Anonymous said...

The next generation kids will be filthy RICH RICH RICH.

m1rr0r said...

Property prices in Singapore keep getting higher but yeah average salary doesn't seem to increase much.

Anonymous said...

We retired financially several years ago. I am 48 and My wife is 40. When I was 42 we took stock of what we had accumulated and chose to quit our day jobs.. One of our priorities in life is our children. We have 5 of them (oh my!) and we had to tighten our belts, we were able to live off rental property income, as well as other modest investments. Thus, allowing more time with the family. Fast forward a few years. Wife has a real estate license going back 15 years, however, we decided last year to actively represent buyers and sellers full time and donate 100% of the proceeds to World Vision. Thus, what wife does she does for charity. Come and join the real estate industry, with the booming property market, you too can be a rich philanthropy.

Anonymous said...

Our leaders have just created a monster in the making. Is no longer "if" but "when" bubble burst we will see many dead bodies. Sit back and watch the ending of the movie.

Anonymous said...

I read that if you want to sue the authorities for damages cause by recent floods, you may have to spent quite a bit to engage experts validation. Heck, that's from some self serving lawyers perspective. why should the people be deterred by our bias legal system?the onus is on the authorities to prove to the public, through an independant jury, that they have not neglected their duties to ensure the drainage system was adequate to meet present development - not the other way round!
furthermore, they already admitted that it was the canal that's why they are now working to enlarge the drainage!
guilty!
SUE!

Anonymous said...

sueyour head..wanna die ah? put moeny in property better. huat ah!!!

Anonymous said...

Watch this !

A prophetic interview with Sir James Goldsmith in 1994 Pt1


http://www.youtube.com/watch?v=4PQrz8F0dBI

Anonymous said...

For all to get a fairer share of the economic pie, a check and balance system must first be put in place. A one party govt will do as they please to the extent that the common citizen literally has no say whatsoever in how the country is managed. Look around and see what has been happening these past 40 years and more. Singapore has no proper identity, citizens feels no pride in their country, not many willing to serve or to defend the country, not willing to fly the flag on National Day, etc. One feels that this country is owned by the elites who cares for nothing but money and more money for themselves. Your CPF is not enough for retirement and COL is going up and yet your income remains stagnant. The Elites does not care 2 hoots about traveling in crowded public transport, the price of hawker food or the cost of buying a HDB flat. Only the lower middle-income and the poor faced these problems, struggling to make ends meet against the inexhaustible increase in all goods and services. It is such that almost everyday one get surprise that such and such an item has a price increase, and what is worse, nothing seems to get any cheaper (electricity and petrol for example).

Whatever new policy adopted, no one can argue except bite the bullet and do as told (YOG budget increase, give way or pay $130 fine and many many more that will take a few pages to list down). Added to our woes is the promise to open the floodgates to more FT's as though what we have is not enough, cramped as we are.

We need check and balance so our tiny voices can be heard. Not to do so will be a disservice to all Singaporeans now and the future. A vicious cycle of poverty and struggle to make ends meet will be yours and your kids' if you do not see the light. Being the 81st happiest nation out of 155, we have a long way to go. The Elites are happy the way it is, are you?

no country for poor man said...

All I see is this will drive more young people starting out in the working world to migrate and stake their future elsewhere. With little if hardly any CPF, a good qualification, facing increasing odds of owning a roof over one's head, there's nothing to lose by venturing abroad. If one makes it big, one can still come back and snap up a flashy condo by passing overpriced HDB altogether. The truth of the matter is, more parents will be compelled to chip in to help their offsprings own their homes. Gone are the days of financial independence. The future generation will be financial burden for a good part of their lives.

Anonymous said...

Unless of course, the younger generation is bonded for years to the govt becos they need the civil service subisidy for their uni education.

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Jeanninejdyv said...

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