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Qualifying income ceiling will be raised from $8k to $10k

Fattychubby

By Fattychubby,
in Lite & EZ

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Duckduck

Duckduck

Turbocharged
  On 8/15/2011 at 12:54 AM, Whathefish said:

please enlighten me....is it really that difficult to get a flat nowadays from HDB?

I got my flat about 5-6 years ago from HDB....me & my wife..walked into HDB...n took whatever was available or opened for selection...

end up we got a flat in choa chu kang that we not even sure where it is exactly....the whole waiting time is less than 30min...

no complain ..as the price is farking low...and then our combine income was not even 5k..

 

is it really not enough flats or people r just being picky..want good location, high floor, near to this & near to that and cheap..etc...

of coz there's not enough such flats to go around...

 

6yrs ago was 2005, when our economy just recovering & there was an oversupply of HDB flats, so u lucky to get 1 fast. 2000 onwards there was a massive oversupply HDB.

 

Garmen kiasu reduce the supply via BTO process then u get the current short squeeze, that is y KBW say need to balance between BTO & build ahead of demand. So they created the current problem & thats y MBT is out.

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Whathefish

Whathefish

5th Gear
  On 8/15/2011 at 1:02 AM, Proton_neutron said:

I believe 5-6yrs ago, there was still walk-in-selection???

 

Now is all based on a ballot system. You heng, you get to even have the BTO project you want. Still gotta be more heng to get to choose the unit you want. =(

 

Anyways, by allowing more people to join the ranks of applying for BTO, and having only the same 25,000 supply next year,

 

more demand, stagnant supply = harder chance of getting a new flat.

 

Then again, can anybody enlighten me if one can take a private loan on new BTO flats?

 

I know it's possible for resale.

 

OIC....so now no more walk in selection....no wonder so many new couples r so frustrated...

 

Tot now u can choose private loan or HDB loan...i think HDB is "happier" if you take private loan

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Wt_know

Wt_know

Supersonic
(edited)

you are right. $800k BTO will soon be seen as sup sup water for $10k household combined income

 

  On 8/14/2011 at 5:29 PM, Mockngbrd said:

There goes the neighborhood... Hdb is now more AFFORDABLE!!!!!!!!

Edited by Wt_know
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Whathefish

Whathefish

5th Gear
  On 8/15/2011 at 1:05 AM, Duckduck said:

6yrs ago was 2005, when our economy just recovering & there was an oversupply of HDB flats, so u lucky to get 1 fast. 2000 onwards there was a massive oversupply HDB.

 

Garmen kiasu reduce the supply via BTO process then u get the current short squeeze, that is y KBW say need to balance between BTO & build ahead of demand. So they created the current problem & thats y MBT is out.

:blink: suddenly...i feel so heng....coz we sort of kana "force" by my dad to get a flat n get married..........tonight i go home n kiss my dad....

no wonder...alot of blocks behind my flat are empty then...

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Duckduck

Duckduck

Turbocharged
  On 8/15/2011 at 1:12 AM, Whathefish said:

:blink: suddenly...i feel so heng....coz we sort of kana "force" by my dad to get a flat n get married..........tonight i go home n kiss my dad....

no wonder...alot of blocks behind my flat are empty then...

 

IMO, HBD was seriously complacent there was lack of communication in the garmen bodies in terms updating housing, economy & population growth. Its as if each dept dont talk to each other, thats y got the current problem. Im glad of the elections results which kicked them in the butt

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Mockngbrd

Mockngbrd

Supersonic
  On 8/15/2011 at 1:05 AM, Duckduck said:

6yrs ago was 2005, when our economy just recovering & there was an oversupply of HDB flats, so u lucky to get 1 fast. 2000 onwards there was a massive oversupply HDB.

 

Garmen kiasu reduce the supply via BTO process then u get the current short squeeze, that is y KBW say need to balance between BTO & build ahead of demand. So they created the current problem & thats y MBT is out.

Now is ballot + wait 4yrs build + knn half mil $

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Whathefish

Whathefish

5th Gear
  On 8/15/2011 at 1:22 AM, Mustank said:

Me too. I also walked in but it was 13 yrs ago. After moving in, 3 yrs then filled up

 

the 2 neighbours next to us..has been staying there for 2-3 years liao...and their price r about 20-30k more than us...wau hahahaha.....

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Mustank

Mustank

Hypersonic

i think we got to thank last time the MND minister. Donno who.....

 

although i waited for 2.5 yrs, this 2.5 yrs was very impt for me and my wife to save up for the reno, furniture and electrical appliances

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Windwaver

Windwaver

Turbocharged
  On 8/15/2011 at 1:39 AM, Whathefish said:

the 2 neighbours next to us..has been staying there for 2-3 years liao...and their price r about 20-30k more than us...wau hahahaha.....

 

It's the same for our parent's time. Their housing is 1/4 of most of ours in 2005 and salary as usual didn't increase in tandam. Another 6 years now, the problem has gone from bad to worse.

 

Now I want to see what is worse to worst [laugh]

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Joseph22

Joseph22

Turbocharged

Personal though on HDB is that, they should be building in advance for non-mature or undesirable area like say, Jurong and woodlands??

 

for more mature areas, they should go for balloting. in this way, if you cannot wait. go to ulu places. if you can wait. go try to ballot for BTO.

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Proton_neutron

Proton_neutron

1st Gear

 

 

I always wondered why so many people are buying BTO flats? Where do all these people come? Especially on a monthly basis.....

 

Then I saw how many couples got married each year, totalling over 24,000.

 

Previous years saw a slow release of BTO's in the market. Couples were fed up with waiting for 5yrs before they can move into their flats. They ended up turning to resale instead, thus pushing up the prices for resale flats [married couples added to the demand for resale].....

 

Then the gahmen pegs the BTO prices to resale prices. So the higher resale flats were sold, the higher the price for BTO flats as well.

 

=(

 

So much for HDB..... And the new BTO floor plans are so much smaller than re-sale.... So there's still that pulling factor to go into resale....

 

 

 

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Proton_neutron

Proton_neutron

1st Gear
  On 8/15/2011 at 2:23 AM, Mustank said:

Where do all these people come? Especially on a monthly basis.....

 

<_< backlog <_<

 

 

 

 

 

Well yeah. But that besides the point, if you miss your first application, applying for the next will make your waiting time even longer!

 

5-6yrs of application + construction time is no joke! It's like watching your child go from Primary 1 to Primary 6! And you still don't get your house.....=(

 

And BTO's have an income ceiling, so that people who earn more than $10k cannot eat into 'affordable housing for masses'.....

 

But with them allowing for more people to come onboard BTO, but supply remains the same, that means more couples will take longer, like previously, to secure their flats.....

 

Darn! What a great policy we have here!

 

 

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