MP urges raising of income cap for subsidised HDB flats

[Scoots]

wopndering if it is kinda contracdicting.

 

one moment everyone KPKB say inflation, no money... blah blah..

 

the next moment everyone KPKB about the 8k cap.

 

Actually, it's inflation and NOT enough money. Value of money is now very low. That's why a couple with combined income of 8K is not that well off enough to afford private housing ...

[Destiny03]

yup agree.

 

the value of money is very low.

but perhaps there is many people here that is drawing much more then 8k bah.

 

i think they are aiming the more then 8k people rather then those 8k zhun zhun.

 

those 8k~8.5k dollars one are the really sway one.

 

no matter where they draw the line. there would still be a affected group

[Sosaria]

Yes, and salary is not an accurate criterion by itself... A childless couple with joint income of $8k a month is definitely better off than a family of four with aged parents having the same $8k / month...

[Nobrainer32007]

wat's wrong? got car can travel rite? max out the sunken cost. complain petrol too ex? get cng.

 

I used to stay in clementi before moving to central part of Singapore..before this, was unsuccessful a few times in balloting and WIS and so I wrote a letter to HDB to feedback and bloody hell, the officer came back with a reply that they have sufficient flats in Punggol and Sengkang and ask me to consider..they expect pple staying in clementi for yrs to move to a place as far away as Sengkang and Punggol??!

[Scoots]

Yeah... and in the past, it's mostly made up of single income family. Now how to survive based on a person's income? So both husband and wife works ... and that reaches the 8K mark rather easily

[Princey_anne]

Btw the CPF celling is 4.5K, maybe that's why the income cap is only 8K. So raising the CPF contribution celling would be better.

[Twnll]

I think cap should split...

 

Example:

S$8k - 3rm or above

>S$8 ~10k - 4rm or above

>S$10 ~12k - 5rm or above

 

 

Like that I can only afford 1 rm flat

[Santa]

I think cap should split...

 

Example:

S$8k - 3rm or above

>S$8 ~10k - 4rm or above

>S$10 ~12k - 5rm or above

 

is a never ending story...then those who earn 13, 14, or even 15k...u think they can afford to buy condo ??? best is to scrapped this cap for first timer

 

because there are some who are super hao lian - combine income 8 k only say hdb flat too cheap no privacy no class and die die burden with heavy loan to buy condo. likewise those with combine income of 15k might not think they can afford condo if they have to support their parents and in law.

Edited February 27, 2008 by Santa

[Zakuii]

Why did they drop the CPF ceiling? Cos they want to collect more income tax... sux!

[Princey_anne]

You got it right.

[Sabian]

If they truly worry that we do nt have enuf $$ for retirement, they shld make public housing really affordable so that we can have more $$ for retirement instead of taking full use of every oppportunity to increase the selling prices by so much just becos resale mkt have been so bullish lately..

 

they do worry about us not having enuff $$...just that they worry about theirs and their children more

[Boyboy]

and they are making young families to owe HDB for life

 

so that they can't be quitters

[Boyboy]

Grants is a form of subsidy which means you can get a subsidy if you want to buy a hdb flat but this does not equate to 'subsidised public housing' becos the flats itself is sold at prices not anywhere close to subsidised prices. Obtaining a subsidy and buying a subsidised flat is two different matter altogether. And furthermore, pls take note that you can only choose either one. Get grant and buy resale or buy direct but no grant. You can't take both grant and buy direct.

 

to be fair, buy direct still cheaper than buy resale with grant.

[Boyboy]

After such a long time ever since a reader wrote to ST to question whether hdb flats are subsidised with lots of stats to prove otherwise and with hdb ownself admitting it is just a 'market subsidy' and not real subsidy, the media still persist on using the word 'subsidised' to mislead the public. thinking of writing a letter to ST forum, man..

 

nice try.

 

write to mycarforum better. until our dear admin decides to clamp down on political talk again

 

write to ST, the management board all on gahmen payroll leh

[Damienic]

Yes, of cos. Buy resale with grant is only good for those who can qualify to buy direct but could not due to some reasons.

[Boyboy]

can't sleep on the streets. bad for sinkapor image

 

can sleep at the beach though. ang mo see u, think u are camping niah..

 

just check out the homeless folks at ECP and changi beach

[Boyboy]

don't suspect. confirm. so bleddy obvious

 

official policy has it that the gahmen jacks up HDB prices (resale they dun control directly, but obviously hdb pricing has effect on resale market) in tandem with salary increases.

 

i read this from a book on HDB policy

[Octopus]

Conclusion....

 

No to upping $8,000 income cap for 1st-time HDB buyers

By Lynn Lee

[/size]

THE HOUSING Board will not raise the $8,000 income ceiling for first-time HDB flat buyers, despite numerous calls by MPs and the public to revise it.

National Development Minister Mah Bow Tan told Parliament on Thursday that the current income criteria captures some 8 in 10 Singaporean families, including upper-middle income ones.

'I hope members will agree with me that this is more than generous and will not be surprised if I tell them that HDB has no plans to revise the income ceiling,' said Mr Mah.

His response came three days after MPs like Mr Christopher de Souza (Holland-Bukit Timah GRC) pointed out that families earning more than $8,000 were stuck - as they were unable to purchase new homes, and yet could not buy them in the resale marke because of the runaway prices.

Mr Mah acknowledged that HDB resale prices had seen a 'heady' growth of about 17 per cent last year.

But he did not think this trend would continue and drew attention to other affordable alternatives.

For instance, families who exceed the income ceiling could turn to resale Executive flats.

Mr Mah also assured Singaporeans that the Government would ensure that HDB flats remained within the reach of the vast majority of Singaporeans, especially young couples looking to buy their first home.

For instance, they will get more chances in balloting exercises for new flats.

Mr Mah said the Government had spent an average of $1.4 billion a year over the last five years on public housing.

For the 2008 financial year, it was setting aside $1.6 billion as part of efforts to cater to Singaporeans' housing needs.

Edited February 29, 2008 by Octopus