HDB property prices...increase maintain or reduce?

[Thargor]

  On 9/19/2009 at 12:44 AM, Boyboy said:

good luck to your kids

 

most importantly is people's salary got increase or not. this HDB thing is just a farce to keep people enslaved to the country.

 

glad i bought my HDB for under 100k just abt 2 years back, 9 mins walk from bukit batok MRT

 

i voted for decrease btw. i believe people should have real investments, or savings, and not rely on some artificially inflated public housing

 

why bring my kid into the picture? Must you do that? What is your problem?

 

At least my kid will not be born into a under 100k HDB. You like people talk About your kid? Yes no yes no? If yes, bring your own kid into your posting n not other pple's kid. you can tell everyone how you wish your kid will have the chance to buy a cheap hdb, your kid your say

 

And by the way, I ask about hdb but I don't stay in a hdb.

Edited September 19, 2009 by Thargor

[Nkps]

  On 9/18/2009 at 3:36 AM, Joseph22 said:

I own a HDB flat, of couse i want the price to increase. do the most of us understand how does last year Economic Crisis come about? it is because the price of property droped badly and many ppl in US decided that they do not want to pay the installment. when that happen, bank suddenly got no money to collect from hence no money to lend others. so if price in singapore drop, i fear that same thing might happen. (but i think unlikely cause we all know singaporean very kiasu and kia see)

if you are not selling it, you are not realising the profit, so what's the point of going up?

 

if you decided to sell it one day at a very high price, most likely you are going to pay for another high price unit, so what's the point? you still do not realise the profit.

 

unless you are not going to buy or downgrading or you have more than 1 properties, if not you are not going to REALISE THE PROFIT.

[Nkps]

  On 9/18/2009 at 6:02 AM, Adrianlim13 said:

I strongly feel that it should maintain at current price or upwards but take away the COV. The system is simply dumb. Whats the point of having a valuation by HDB in the first place?

having valuation is to reduse the risk of bank and HDB, not to protect the BUYER.... wahaha

[Drive_carcar]

  On 9/19/2009 at 5:20 AM, Sgnick said:

All i see are numbers, maybe u want to explain about the smack on the faces. Interpret the results for us

 

http://www.mycarforum.com/index.php?showto...p;#entry2874139

[Boyboy]

  On 9/19/2009 at 2:11 PM, Thargor said:

why bring my kid into the picture? Must you do that? What is your problem?

 

At least my kid will not be born into a under 100k HDB. You like people talk About your kid? Yes no yes no? If yes, bring your own kid into your posting n not other pple's kid. you can tell everyone how you wish your kid will have the chance to buy a cheap hdb, your kid your say

 

And by the way, I ask about hdb but I don't stay in a hdb.

 

ok, enjoy your expensive but worthless housing.

 

mine is worthless, i know, but at least it didn't cost too much

 

and no kids for me, thank you very much. not unless i call it quits from this country

 

you belong to a large proportion of singaporeans who rather pay more for what is essentially the same thing. i wish your kids WELL, by hoping their earnings commensurate with their expectations. not just yours, really, but the whole of the next generation. unfortunately, the way things are going...

 

open your eyes abit lah. don't just read sh!t times

[Boyboy]

  On 9/19/2009 at 2:16 PM, Nkps said:

if you are not selling it, you are not realising the profit, so what's the point of going up?

 

if you decided to sell it one day at a very high price, most likely you are going to pay for another high price unit, so what's the point? you still do not realise the profit.

 

unless you are not going to buy or downgrading or you have more than 1 properties, if not you are not going to REALISE THE PROFIT.

 

no lah, the whole point of having EXPENSIVE housing is so that the kid will not be born into cheap housing

 

jialat man

 

anyway, not true that u cannot realise profits. somehow, if my wife n i sell our cheapo 3 room, we'll realise at least 130% profit, just because we got lucky, and also planned a bit. of course, we only see the profits if we call it quits from here, or move back with either of our parents.

 

those who bought their flats before the 90s property boom, all sitting on paper profits, if they downgrade or call it quits

[Boyboy]

  On 9/19/2009 at 12:53 PM, Wind30 said:

bottomline is the vast Majority of forummers (singaporeans?) in MCF wants the hdb prices to go up.

 

I am sure the government has done more detailed surveys and knows what proportion of the population wants the prices to go up and what proportions wants it to go down.

 

u think they will listen to the minority????

 

 

honestly, selfish me would rather the housing prices soar to 1 mil for 3-room flat, so that i can cash out and go somewhere else.

 

but hello, does our salary rise in tandem with the rise in housing prices? i'm talking abt the mean of the middle and lower income earners here. is their life getting better?

 

i still think public housing prices should only rise in proportion with earnings. but that is me lah.. i guess even though i have no kids and don't want any, i still worry for those whose kids will be struggling even harder to pay off their 30 year home loans in future.

[Thargor]

  On 9/19/2009 at 2:29 PM, Boyboy said:

ok, enjoy your expensive but worthless housing.

 

mine is worthless, i know, but at least it didn't cost too much

 

and no kids for me, thank you very much. not unless i call it quits from this country

 

you belong to a large proportion of singaporeans who rather pay more for what is essentially the same thing. i wish your kids WELL, by hoping their earnings commensurate with their expectations. not just yours, really, but the whole of the next generation. unfortunately, the way things are going...

 

open your eyes abit lah. don't just read sh!t times

 

Apparently you do not understand the meaning of don't bring in my kid to the topic. Can't make your own point without roping in others ya? Anyway just for the record, my dad taught me to be responsible for my own lot in life. The society doesn't make a man and so don't blame the society if one can't make it in life. I will raise my kid to be that way.

 

Don't talk about calling it quits from Singapore ya unless you are posting your replies as a citizen of another country. So you don't like it here...are you capable enough to get out of Singapore? Well...under 100k HDB...I think not, correct me if I am wrong and I will be glad to eat my words. I don't just read Straits Times by the way....yeah like you I have internet as a news source. You do surf the web for news do you? And don't just open your eyes...go experience it. As a seasoned traveler, I experience rather than just read about it. How many countries have you been to? Can count with just one hand?

 

Anyway we belong to 2 different worlds, no point to continue with any further discussion. This conversation is over. You can continue whining and complaining about Singapore, I will just treat it as amusement for me and my wife (yeah she was laughing at your posting).

 

 

 

 

 

 

[Joseph22]

  On 9/19/2009 at 1:11 PM, Jamesc said:

Perhaps you have never heard of the terms sub prime or house of cards?

 

"Like i say you are assuming that the bank in USA did not do a proper assessment of lender."

US banks gave loans to people with no jobs!

 

Its not an assumption, its a fact!

 

Okay, look like i am wrong here. But still i believe that the prices in singapore are just correct. the reason the Valuation in mature estate are skyhigh is only because governement want more people in the new Estate. And people especially those with combine pay of more than 8K do not want to live outside of mature estate and paid so much is complaining. And dont bring in the fact that they want to live with their parents hence wanted to live there. cause the very truth is that they know that the value of the houses in the estate is very good.

[Joseph22]

  On 9/19/2009 at 3:47 AM, Sgnick said:

From 4th Quarter 2006 till 3rd quarter 2009

HDB resale price up 33.5% (estimated)

Salary up 15.775% (estimated)

 

Anyone else please feel free to do your own calculation and analysis and show in this thread, as in no way do I claim the figures above to be accurate.

 

Sources:

 

HDB resale price

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

 

From 4th Quarter 2006 till 2nd quarter 2009, price of HDB resale price have gone up 32%. Now is almost end of 3rd quarter and still rising due to buying frenzy, so let's make it 33.5% now (just my estimate) at this point 19-Sept-09.

 

http://www.hdb.gov.sg/fi10/fi10201p.nsf/WP...ex?OpenDocument

 

A $300K flat in 4Q/2006 will now be $400.5K

 

$400K flat is now $534K

 

 

Let's compare to wages in Singapore

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

 

From 4Q/2006-3Q/2009, wage increase can be estimated to be (4.5/4=1.25)+5.9+4.2+(5.9/4x3=4.425) = 15.775% increase

 

 

2009 Jan to current date

No report yet but lets say this year is another damn good year for wages (like 2007). Let's take it as another +5.9% for full year till end 2009 (which i highly doubt due to recent newspaper reports on expecting low to no bonuses).

 

2008

With the economic downturn and increased business costs in 2008, employers were more restrained in granting salary increases. Total wages comprising basic wages and bonuses in the private sector rose by 4.2% in 2008, down from the growth of 5.9% in 2007. The moderation in total wage increase in 2008 stemmed from the drop in bonus payout from 2.36 months in 2007 to 2.31 months in 2008 (-2.1% as opposed to an increase of 8.3% in 2007). The basic wage increase (4.4%) was broadly unchanged from 2007 (4.3%).

 

http://www.mom.gov.sg/publish/momportal/en...0630-Wages.html

 

2007

Amid the strong economic performance and tight labour market, total wages rose by a 7-year high of 5.9% in 2007, up from 4.5% in 2006. The total wage increase of 5.9% resulted from a basic wage gain of 4.3% and an increase in bonus payout (also known as annual variable component) from 2.18 months in 2006 to 2.36 months in 2007. The rise in annual variable component accounted for 2.3% point of the 5.9% total wage increase. The remaining 3.6% point came from the increase in basic wages, which accounted for 61% of the total wage gain in 2007, lower than 69% in 2006.

http://www.mom.gov.sg/publish/momportal/en...0630-wages.html

 

2006

Up 4.5%.

http://www.mom.gov.sg/publish/momportal/en...n_Wages_06.html

I will say the figure you get is misleading.

 

what you see is resale price which is not all sold at 33.5% higher. there are some that are sold below the average resale price. but are you willing to Buy?? (flat is far from MRT, low floor, house very dirty) you see, quoting the price of re-sale and salary is easy. but it is hard to compare re-sale flat to Salary, salary can be measure. but resale cannot.

 

Why resale flat cannot be measure?? simple, not everyone is selling, 2ndly not all flat got buyer want to buy. normally those that are sold high are either because they got good view, near school, high floor, near shopping center or MRT. those are the one that are constantly being sold. but the problem here is that those that are not in that catergory might not be sold at all or if not moved very slowly. since that those less desire places are moving slowly, they create a false sense of HDB price is going up sharply.

 

Where else in salary, you are getting everyone salary including those odd job labour. they might not get any increment at all (like some of the less desire HDB flat dont increase in value at all.) and also, there are those whose salary are so high that increasing SGD200 to their salary does not even affect more than 5% of their salary(however, every Sgd 200 increase per year will aloow them to finance a HDB that is 20K ~50K more expensive.). i will not elabrate further cause nobody like wall of words.

 

So in conclusion, the figure you plug might be right, but they are both independent and irrelevant report.

[Wind30]

  On 9/19/2009 at 2:29 PM, Boyboy said:

ok, enjoy your expensive but worthless housing.

 

mine is worthless, i know, but at least it didn't cost too much

 

and no kids for me, thank you very much. not unless i call it quits from this country

 

you belong to a large proportion of singaporeans who rather pay more for what is essentially the same thing. i wish your kids WELL, by hoping their earnings commensurate with their expectations. not just yours, really, but the whole of the next generation. unfortunately, the way things are going...

 

open your eyes abit lah. don't just read sh!t times

 

why is the housing worthless?? u know how many people sold of their hdb and migrate to another place?

 

The point is if your country is doing well, the housing market is DEFINATELY going to go up. If your country is in the dumps, nobody want to buy the property. U think if singapore is a mess, hdb can price the flats at todays price??????

 

then there are the camp who wants public housing prices to be regulated and far cheaper than the private housing. They don't understand if such a case is true, then your public housing will REALLY be WORTHLESS.

 

Example, 10 years ago lets say public housing cause 100k, private housing 150k. (numbers are hypothetical) A buys public housing B buys private housing. 10 years later, the public housing due to regulation is still worth 100k while the private housing is 300k. U actually think this is good for the middle class who buys public housing as their first property????