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therock

By therock,
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macrosszero

macrosszero

Turbocharged
On 5/30/2024 at 6:02 PM, Stary said:

Sure arrived one....inheritance from boomer or Gen X parents lor....

Even the lower income parents have at least a 3-rm HDB which  average around 250k-300k at the moment.  Not to mention a vast majority of ageing parents who owns 4-rm or 5-rms which goes into at least half a million in resale. Those are decent amount of inheritance for their young ginnas.

That's why many young folks now dare to stretch everything to the max from reno to house loan  because there is always bailout available.

As more and more parents age, I think we will see more and more young to middle-age folks taking  higher financial risk.

They think of their parents as money trees (摇钱树), they haven’t factored in that their aging parents may need their financial support until both of them die and they can unlock the cash tied up in their property.

As someone said earlier, this will become a social problem where the offspring don’t have the means to support their parents in their twilight years, and instead hope for them to die earlier so they could be rid of the responsibility and expense and get their hands on their inheritance.

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Throttle2

Throttle2

Supersonic
On 5/30/2024 at 6:18 PM, macrosszero said:

They think of their parents as money trees (摇钱树), they haven’t factored in that their aging parents may need their financial support until both of them die and they can unlock the cash tied up in their property.

As someone said earlier, this will become a social problem where the offspring don’t have the means to support their parents in their twilight years, and instead hope for them to die earlier so they could be rid of the responsibility and expense and get their hands on their inheritance.

Yeah, very bad if so
just eyeing parents to die and take their money.

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macrosszero

macrosszero

Turbocharged
On 5/30/2024 at 6:52 PM, Throttle2 said:

Yeah, very bad if so
just eyeing parents to die and take their money.

It’s already happening, with court cases and “questions” being posed to property experts, I think this was discussed only a few pages ago.

Personally I come from a generation where we don’t expect any financial legacy from our parents except what our mothers have given us at birth and the whatever nurturing and opportunities they could afford.

Once you start working, you’re on your own. If they could spare some cash maybe they could have helped out with the renovation costs (buying a flat back then wasn’t so crippling) but that’s pretty much it.

Today I see parents helping/gifting their children their first cars or first properties. 

I totally understand. You can’t take it to your grave. 

The problem isn’t you but your children.

Make sure they don’t have that sense of entitlement that what’s yours will become theirs.

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Volvobrick

Volvobrick

Supersonic
On 5/30/2024 at 7:28 PM, macrosszero said:

It’s already happening, with court cases and “questions” being posed to property experts, I think this was discussed only a few pages ago.

Personally I come from a generation where we don’t expect any financial legacy from our parents except what our mothers have given us at birth and the whatever nurturing and opportunities they could afford.

Once you start working, you’re on your own. If they could spare some cash maybe they could have helped out with the renovation costs (buying a flat back then wasn’t so crippling) but that’s pretty much it.

Today I see parents helping/gifting their children their first cars or first properties. 

I totally understand. You can’t take it to your grave. 

The problem isn’t you but your children.

Make sure they don’t have that sense of entitlement that what’s yours will become theirs.

Yeah I have been on my own since 19. But now got to worry kid study, house, etc etc.... Must learn to let go. 

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Windwaver

Windwaver

Turbocharged
On 5/30/2024 at 7:28 PM, macrosszero said:

It’s already happening, with court cases and “questions” being posed to property experts, I think this was discussed only a few pages ago.

Personally I come from a generation where we don’t expect any financial legacy from our parents except what our mothers have given us at birth and the whatever nurturing and opportunities they could afford.

Once you start working, you’re on your own. If they could spare some cash maybe they could have helped out with the renovation costs (buying a flat back then wasn’t so crippling) but that’s pretty much it.

Today I see parents helping/gifting their children their first cars or first properties. 

I totally understand. You can’t take it to your grave. 

The problem isn’t you but your children.

Make sure they don’t have that sense of entitlement that what’s yours will become theirs.

Talking about parents :secret-laugh:

 

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macrosszero

macrosszero

Turbocharged
On 5/31/2024 at 11:15 PM, Windwaver said:

Talking about parents :secret-laugh:

 

Sorry but this is just obscene; I am actually disgusted how casually they discuss 4-figure sums for random items when there are people here who barely make that in a month 

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Throttle2

Throttle2

Supersonic
On 5/31/2024 at 11:34 PM, macrosszero said:

Sorry but this is just obscene; I am actually disgusted how casually they discuss 4-figure sums for random items when there are people here who barely make that in a month 

The only thing obscene is that it all came from her father and she is just an ah sia

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inlinesix

inlinesix

Hypersonic
On 5/31/2024 at 11:34 PM, macrosszero said:

Sorry but this is just obscene; I am actually disgusted how casually they discuss 4-figure sums for random items when there are people here who barely make that in a month 

On 6/1/2024 at 7:49 PM, Throttle2 said:

The only thing obscene is that it all came from her father and she is just an ah sia

There is nothing obscene for a daughter.

Not forgotten that daughter is daddy’s lover in previous life.

It is obscene when you can’t afford it🤭

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macrosszero

macrosszero

Turbocharged
On 6/1/2024 at 7:49 PM, Throttle2 said:

The only thing obscene is that it all came from her father and she is just an ah sia

Well I guess daddy's money might have made it hard for her to see things out with either Bin Kai or Leslie. Not her fault I guess, when she's surrounded with limitless resources and freedoms.

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Windwaver

Windwaver

Turbocharged
On 5/31/2024 at 11:34 PM, macrosszero said:

Sorry but this is just obscene; I am actually disgusted how casually they discuss 4-figure sums for random items when there are people here who barely make that in a month 

She has got interesting friends :grin:

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Spidey10

Spidey10

Supercharged
On 5/30/2024 at 9:43 PM, ccc888 said:

HDB so benevolent

Still prep 1rm rental flat for her eviction.

you see if anything happens or not if u dun pay under private prop and bank loan....sue until yr pants also drop...and all other incidental charges related to the legal case and all outstanding loans plus interest......

she is damn lucky in this case...somemore i think she act ya ya papaya....

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Spidey10

Spidey10

Supercharged
On 5/31/2024 at 11:34 PM, macrosszero said:

Sorry but this is just obscene; I am actually disgusted how casually they discuss 4-figure sums for random items when there are people here who barely make that in a month 

karma is a bitch.....soon soon, come knocking at their door...

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Windwaver

Windwaver

Turbocharged

https://mothership.sg/2024/06/bukit-merah-resale-hdb-joint-most-expensive

5-room flat in Bukit Merah sold for S$1.588 million, joint-most expensive resale HDB in S'pore

city-vue-Henderson-most-expensive-resale

A five-room resale flat along Henderson Road in Bukit Merah was sold in June for a record S$1,588,000.

This makes it the joint-most expensive Housing and Development Board (HDB) flat to be resold in Singapore.

The same amount was paid for a five-room resale flat at Tiong Bahru which changed hands in end-April.

Enviable location

The 113 sq m unit with 94 years left on its lease is located within the CityVue@Henderson estate, at 96A Henderson Road.

It is situated between the 46 to 48 storey and was sold for a price of about S$1,305 per sq feet.

The estate is a seven-minute walk from Redhill MRT Station.

Residents there can enjoy views of the city skyline and direct access to two park connectors, according to StackedHomes.

There is a childcare in the estate and it is a stone's throw away from two hawker centres and a market.

Sky high prices in Bukit Merah

The last 10 five-room flats sold in the estate have all been one-million-dollar transactions, according to HDB property statistics.

Screenshot-2024-06-08-at-6.56.57-PM.png

Bukit Merah has typically been a well-sought after area for flat buyers, and is no stranger to high-priced flats.

In May, the Bukit Merah area accounted for 12 out of a total of 74 resale flats sold for at least S$1 million, The Business Times reported.

This was the second highest after Kallang Whampoa, where 13 such units were sold.

Million dollar flats a minority

Minister for National Development Desmond Lee noted last September that million dollar flats made up less than 1 per cent of the HDB resale transactions registered from July 2015 to June 2023.

Among these buyers, the median age was 40 years old.

About 94 per cent of the buyers were Singapore citizens while about 6 per cent were permanent residents.

 

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