Give us HDB FLat AT COST, Not 30yrs Mortgage Enslavement
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Do you know that for a 30 year loan on a sum of $200,000 @ 4.5% p.a., you would have to pay $168,358 in interest payments?
There was money illusion, now they have come up with a new term housing illusion.
The perceived notion that you own the house.
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Originally posted by βÎτά:
Do you know that for a 30 year loan on a sum of $200,000 @ 4.5% p.a., you would have to pay $168,358 in interest payments?
There was money illusion, now they have come up with a new term housing illusion.
The perceived notion that you own the house.
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Originally posted by Fatum:
now that's a good example of selective numbers play .....
Here's the yishun dew spring project
http://www.hdb.gov.sg/fi10/fi10296p.nsf/PressReleases/FF131E246C03304A482575230034347D?OpenDocument
There are 144 two room flats - priced at $79 to $90k BEFORE AHGs
There are 216 3 room flats - priced at $120 to $146k BEFORE AHGs
There are 504 4 room flats - priced at $197 - $239k BEFORE AHGs
AHGs ranges from 5k to 40k for each household.
Taking into account that the average AHGs ranges from 20 to 30k, how, pray tell, did you arrive at the figure of over 100% profit ?
And with regards to affordability, personally, looking at the prices here, is a two or three room a stretch for you ?
Now I am surprised that you could have stated the obvious play in your statement - "now that's a good example of selective numbers play ....." and to continue with your own understated numbers that do not compare itself with what was stated in my reply that you have attempted to respond.
If you had read through what was clearly stated in my last reply that had the answer so clearly stated and printed in "RED" - how could you have asked your intelligent question - "how, pray tell, did you arrive at the figure of over 100% profit ?"
My reply which you had made reference was printed in Page 7 of this thread and is repeated below:-
Will HDB flats be sold at the real COST OF BUILDING HDB Flats at the prices from the following articles ?
Both had reported the following:-
Channelnewsasiaarticlehdbcontract_com.mht that Singapore Exchange’s mainboard-listed BBR Holdings has secured a S$104.2-million contract from the Housing & Development Board (HDB) to build seven blocks of flats in Yishun Neighbourhood 4.
The work comprises 864 homes, a Child Care Centre, a roof garden, communal amenities and site works, as well as contingency works.
Since there will be 864 HDB flats, the average cost per flat, inclusive of communal amenities, site works and contingency works, is about $120,602 ($104.2 million divided by 864 flats).
With the latest HDB new 4-room flats at Punggol (Punggol Residences BTO) selling at an average price of $293,000 (price range of $264,000 to $322,000 divided by 2), does it mean that the HDB stands to make a profit of about $172,398 per flat, or a profit margin of about 143 per cent?
Can your given examples of HDB flats with stated prices BEFORE AHGs be in any way comparable to the 864 flats built in 2009 under the terms of the contract between HDB and BBR Holdings ?
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Originally posted by eagle:
When the time is up?
Hmmm... Buy flat at 30 yrs old, 99 year lease...
So 99 + 30 = 129Wow! The time will be up when I'm 129 yrs old!
Seriously, I question your notion that your flat will last up to 99 years old, being an scholar and engineer.
Your structural rebar will start corroding in 40-50 years time, it will rust and expand forcing the concrete to crack.
You know of any HDB estate that is 90 years old?
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Originally posted by Fatum:
that is true enough, but what if we look at things at an even more macro level ?
Let's remember that the HDB is not concerned with the building of new HDB flats alone. They are also operating in the resale market through subsidies for home seekers.
For each new couple that choses to purchase a resale flat, 30 to 40k of subsidies are granted to them as well, plus, potentially up to another 40k of AHGs is applicable to them as well. Where do you suppose the HDB gets the money from ?
Just as new flat buyers like us are subsidizing the purchase of smaller units by other home owners, we are also subsidizing the purchase of resale flats by other people.Jiak ter, per gau, eat pig, pay dog, make sense ? fair ?
Makes sense too... Don't think I notice HDB replying with this... hmmm....
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Originally posted by βÎτά:
Seriously, I question your notion that your flat will last up to 99 years old, being an scholar and engineer.
Your structural rebar will start corroding in 40-50 years time, it will rust and expand forcing the concrete to crack.
You know of any HDB estate that is 90 years old?
Naahh.. our HDB is made with Alien Technology.
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Originally posted by βÎτά:
Seriously, I question your notion that your flat will last up to 99 years old, being an scholar and engineer.
Your structural rebar will start corroding in 40-50 years time, it will rust and expand forcing the concrete to crack.
You know of any HDB estate that is 90 years old?
Then in that case, there's no difference between HDB or condo.
Btw, I'm not a civil engineer nor mechanical engineer. There are many different types hor.
Btw, I don't think there are any HDB flats before 1965, so supposed the first flats were built by 1970 (assume 5 yrs to build), then the oldest flat would only be 40 years old now
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For a $200,000 loan @ 4.5% interest spanning 30 years, you pay $168,349 in interest charges. That is apart from the property tax and radio and TV license they sap from you.
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Originally posted by CheckmateA1:
yr 1997 many got their hands burn.
Lol i heard too many taxi drivers/hawkers tell me ..."I used to own many house and drive mar sai di".Sidetrack abit.... I was drinking kopi at coffeeshop downstairs and got 1 uncle talk to me.....he knows every year i go back for hols then he said X country bei pai now u dunno garment blah blah.... u go good. Then i said not really lor.... Singapore garment tax low. There tax until u ting kor(take off pants). He smile then reply u noe actually i dun mind if PAP tax me 90%.... so long the 10% enough for my expenses can already.
One pin see blood .... bo pien diam diam lol
Regards
Genie
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Originally posted by eagle:
Makes sense too... Don't think I notice HDB replying with this... hmmm....
you also used the top unit prices for your calculations too, if you average it out it shaves off the figure even further.
Remember also, that each singaporean couple is entitled to two bites of the cherry per life time. That is to say you'll enjoy a subsidized new flat or resale grants twice.
with many people chosing a resale nowadays, the subsidy figures is likely to be substantial.
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Originally posted by eagle:
Then in that case, there's no difference between HDB or condo.
Btw, I'm not a civil engineer nor mechanical engineer. There are many different types hor.
Btw, I don't think there are any HDB flats before 1965, so supposed the first flats were built by 1970 (assume 5 yrs to build), then the oldest flat would only be 40 years old now
Ermmm...., the difference is not ONLY a matter of structural integrity.
I am not even an engineer, but it's all a matter of general knowledge.
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Originally posted by βÎτά:
For a $200,000 loan @ 4.5% interest spanning 30 years, you pay $168,349 in interest charges. That is apart from the property tax and radio and TV license they sap from you.
It's the same for non-HDB flats too.
Or for that matter, any other country in the world.
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Originally posted by βÎτά:
Ermmm...., the difference is not ONLY a matter of structural integrity.
I am not even an engineer, but it's all a matter of general knowledge.
Well, in Hong Kong, there are many buildings still standing and being occupied after 40~50 years
Perhaps our HDB Alien Technology not as good as theirs?
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Originally posted by eagle:
Well, in Hong Kong, there are many buildings still standing and being occupied after 40~50 years
Perhaps our HDB Alien Technology not as good as theirs?
After 50 years you still dare to go live in one ah.. You is very brave.
I donno about HDB technology compared to Hong Kong technology , but I remember got one time the SINGAPORE Gay World Building collapse hor.. many people die leh.
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Originally posted by eagle:
Well, in Hong Kong, there are many buildings still standing and being occupied after 40~50 years
Perhaps our HDB Alien Technology not as good as theirs?
It's also common knowledge that a building in Hong Kong collapse earlier this year.
But I guess you are too busy making money from your scholarly job to notice.
Four killed in Hong Kong building collapseHONG KONG — Rescue workers Saturday pulled a fourth body from the rubble of a rundown housing block that collapsed in Hong Kong as the government ordered urgent checks on all buildings more than 50 years old.
The five-storey building, built in the 1950s, collapsed in seconds on Friday afternoon in Kowloon district, witnesses told local television.
Rescuers retrieved a fourth body -- that of a woman -- early Saturday following an overnight search, the government said in a statement.
"She was certified dead at the scene," it said. "So far, four persons died and two (were) injured in the collapse."
Rescue workers ended their search after a fifth person thought to have been trapped in the rubble was located elsewhere, broadcaster RTHK said.
Reports said renovation work was being carried out on the building but the cause of the collapse was unclear.
Several nearby buildings were closed for safety reasons and about 100 people affected by the collapse spent the night in two community centres.
Au Choi-kai, director of buildings, said a repair order had been served on the owners of the block this month. But he added that its condition was not bad enough to order its closure, RTHK reported.
Development Secretary Carrie Lam has ordered checks on all buildings more than 50 years old, it said.
The South China Morning Post described it as "the worst incident of its kind in the city in decades".
Reports said the building collapsed in a matter of seconds.
"I saw bits and pieces of earth and tiles sliding down the wall at the beginning... a woman was trying to climb out through the window. About 15 seconds later, the building fell like dominoes," a passer-by told Cable TV.
Decades-old, rundown residential blocks are often interspersed with high-rise buildings in Hong Kong, an international financial hub famous for its high population density and fast pace of redevelopment.
http://www.google.com/hostednews/afp/article/ALeqM5hkV2zgztgphg_TVvRtH2HL2p3HAA
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our gahmen no horse run, whoever f around with them will be sue until u ting kor(take off pants).
you cannot recognise where you stay
yr 1997 the ang moh house became worthless, economic crisis - many are retrench, cannot find jobs
not convinced ask or check around
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Originally posted by jojobeach:
After 50 years you still dare to go live in one ah.. You is very brave.
I donno about HDB technology compared to Hong Kong technology , but I remember got one time the SINGAPORE Gay World Building collapse hor.. many people die leh.
once a while a building somewhere will collapsevery normal one
only noah ark will never collapse
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Originally posted by jojobeach:
After 50 years you still dare to go live in one ah.. You is very brave.
I donno about HDB technology compared to Hong Kong technology , but I remember got one time the SINGAPORE Gay World Building collapse hor.. many people die leh.
After 50 years I already near 80 years old... Collapse then collapse lor...
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Originally posted by eagle:
It's the same for non-HDB flats too.
Or for that matter, any other country in the world.
Other countries make more money than us, while their private housing is comparable to ours.
Australia's minimum wage is A$15 an hour.
What is the minimum wage Singaporeans make per hour?
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Originally posted by βÎτά:
It's also common knowledge that a building in Hong Kong collapse earlier this year.
But I guess you are too busy making money from your scholarly job to notice.
Four killed in Hong Kong building collapse(AFP) – Jan 29, 2010
HONG KONG — Rescue workers Saturday pulled a fourth body from the rubble of a rundown housing block that collapsed in Hong Kong as the government ordered urgent checks on all buildings more than 50 years old.
The five-storey building, built in the 1950s, collapsed in seconds on Friday afternoon in Kowloon district, witnesses told local television.
Rescuers retrieved a fourth body -- that of a woman -- early Saturday following an overnight search, the government said in a statement.
"She was certified dead at the scene," it said. "So far, four persons died and two (were) injured in the collapse."
Rescue workers ended their search after a fifth person thought to have been trapped in the rubble was located elsewhere, broadcaster RTHK said.
Reports said renovation work was being carried out on the building but the cause of the collapse was unclear.
Several nearby buildings were closed for safety reasons and about 100 people affected by the collapse spent the night in two community centres.
Au Choi-kai, director of buildings, said a repair order had been served on the owners of the block this month. But he added that its condition was not bad enough to order its closure, RTHK reported.
Development Secretary Carrie Lam has ordered checks on all buildings more than 50 years old, it said.
The South China Morning Post described it as "the worst incident of its kind in the city in decades".
Reports said the building collapsed in a matter of seconds.
"I saw bits and pieces of earth and tiles sliding down the wall at the beginning... a woman was trying to climb out through the window. About 15 seconds later, the building fell like dominoes," a passer-by told Cable TV.
Decades-old, rundown residential blocks are often interspersed with high-rise buildings in Hong Kong, an international financial hub famous for its high population density and fast pace of redevelopment.
http://www.google.com/hostednews/afp/article/ALeqM5hkV2zgztgphg_TVvRtH2HL2p3HAA
That brings us to this very curious question.
WHY HDB sell us a 99 year lease ??????
Why are we paying interest for 49 years worth of nothingness ?
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Originally posted by eagle:
After 50 years I already near 80 years old... Collapse then collapse lor...
Then your kids and wifey same fate as you?
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Originally posted by eagle:
After 50 years I already near 80 years old... Collapse then collapse lor...
You die never mind.. don't be half dead half alive.. big burden.
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Originally posted by jojobeach:
That brings us to this very curious question.
WHY HDB sell us a 99 year lease ??????
Why are we paying interest for 49 years worth of nothingness ?
of course sell to u at 99 leaseif hdb also freehold
then who want to buy private properties tats at free hold?
t further more at a 99 year lease
they can simply throw u out easily , due to some
new develpoment or so..
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Originally posted by βÎτά:
Other countries make more money than us, while their private housing is comparable to ours.
Australia's minimum wage is A$15 an hour.
What is the minimum wage Singaporeans make per hour?
Sorry Beta,
Private housing is cheaper than Singapore... even in the good areas.
This statement you can take as fact lol.
Kind Regards
Genie