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Is HDB a prepaid flat rental or an asset?

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Barnsley
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Re: Is HDB a prepaid flat rental or an asset?

Postby Barnsley » Wed, 29 Aug 2018 3:55 pm

PNGMK wrote:IT never helped that LKY kept disparagingly comparing HDB to council flats in the UK (which many councils have since sold off to their residents who are now doing very well).


Yes , some very unpleasent creations in the UK built in the 50s/60s/70s.

Council houses on the other hand , semi-d and detached , were indeed sold off and the folks who had first refusal often made a killing as they could have been built in prime areas and were often big with large gardens.
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Re: Is HDB a prepaid flat rental or an asset?

Postby PNGMK » Tue, 04 Sep 2018 2:01 pm

Wong is back peddling as fast as he can. Multiple errors in his statement of course. Fortunately Singaporeans are not daft anymore. I can't see this ending well for the Minister.

https://www.businesstimes.com.sg/govern ... do-not-own
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Re: Is HDB a prepaid flat rental or an asset?

Postby Barnsley » Tue, 04 Sep 2018 2:29 pm

PNGMK wrote:Wong is back peddling as fast as he can. Multiple errors in his statement of course. Fortunately Singaporeans are not daft anymore. I can't see this ending well for the Minister.

https://www.businesstimes.com.sg/govern ... do-not-own


Its a tough gig for whichever Government has to explain how they let a misconception turn into an accepted reality.

Other than keeping creating policies where they will purchase remainder of a lease from folk then I am not sure what else they can do. However they do it , the Government cannot be out of pocket on it.

99 years leasehold is 99 years leasehold , it is what it says on the tin and somebody at somepoint will be the owner of the lease when the lease runs out.
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Re: Is HDB a prepaid flat rental or an asset?

Postby PNGMK » Tue, 04 Sep 2018 6:36 pm

I agree it's tough but PAP could actually lose an election over this. It's possible to fix it actually but they'll never do it - any opposition party that comes up with a solution may win the next GE.

Privatise HDB.
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Re: Is HDB a prepaid flat rental or an asset?

Postby PNGMK » Wed, 05 Sep 2018 6:48 am

TOC just wiped the floor with Wong. He can't even do basic research. His whole team should be fired along w him. This minister is sending the government into a near crisis. Go to the bottom and review the image.

https://www.theonlinecitizen.com/2018/0 ... velopment/
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Re: Is HDB a prepaid flat rental or an asset?

Postby PNGMK » Wed, 05 Sep 2018 10:06 am

Add in CPF woes for double jeopardy

https://www.theonlinecitizen.com/2018/0 ... cpf-board/
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Re: Is HDB a prepaid flat rental or an asset?

Postby PNGMK » Mon, 10 Sep 2018 7:24 am

And it continues. The gahmen has every hack on their payroll (aka ST and BT) trying to turn this leaky boat around.
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Re: Is HDB a prepaid flat rental or an asset?

Postby Barnsley » Mon, 10 Sep 2018 10:05 am

PNGMK wrote:And it continues. The gahmen has every hack on their payroll (aka ST and BT) trying to turn this leaky boat around.


Maybe they planned for the smelly stuff to hit the fan later on and they have been working on solutions to the looming issues with 99yr leasehold HDB hitting 60yrs further down the road.

There is certainly a lot of work to do.

Maybe the Govt have budgeted for all this?
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Re: Is HDB a prepaid flat rental or an asset?

Postby PNGMK » Mon, 10 Sep 2018 10:50 am

No Barns.... or if they are it's a triple or double bluff. There is too much panic.
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Re: Is HDB a prepaid flat rental or an asset?

Postby Barnsley » Mon, 10 Sep 2018 10:56 am

PNGMK wrote:No Barns.... or if they are it's a triple or double bluff. There is too much panic.


It does seem like its a tricky position to extricate from.

Maybe the Govt have a plan to use CPF so no cash payouts are required.

Its going to interesting to see what they do.

The big desnity HDB surely cant be knocked easily and rebuilt so some places will have to extend beyond 99yrs when the time comes.

Its more likely condos will be knocked down as some of them 10-15yrs old are already in poor condition.
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Re: Is HDB a prepaid flat rental or an asset?

Postby Barnsley » Mon, 10 Sep 2018 5:05 pm

https://www.straitstimes.com/singapore/parliament-private-developers-may-have-a-role-in-redeveloping-older-flats-for-vers-wong

On Monday (Sept 10), Minister for National Development Lawrence Wong said in Parliament that he "will not rule (private developers) out" and would carefully study the suggestion made by Ms Cheryl Chan (Fengshan).


An idea a day at the minute.
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Re: Is HDB a prepaid flat rental or an asset?

Postby PNGMK » Mon, 10 Sep 2018 10:51 pm

Wong should will end up on the back bench at this rate.
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Re: Is HDB a prepaid flat rental or an asset?

Postby PNGMK » Fri, 21 Sep 2018 8:26 am

http://finance.theindependent.sg/credit ... hdb-flats/
CS foresee Singaporeans continuing to abandon HDB for private property due to HDB being prepaid lease with no upside or true property rights.
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Re: Is HDB a prepaid flat rental or an asset?

Postby GSM8 » Fri, 21 Sep 2018 8:21 pm

An plausible approach might be for gahmen to amend the rules to state that an eligible person or couple can "own only 1 purchased HDB flat at any given time". In other words, they can inherit an aging HDB flat, yet buy their own BTO or resale. Further, private property owners are also allowed buy 1 resale flat (albeit excluded from BTO). Such a scenario, even if CPF restrictions are not loosened (to protect the retirement funds of those who need it the most), will boost the HDB resale market for older flats.

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Re: Is HDB a prepaid flat rental or an asset?

Postby PNGMK » Sun, 23 Sep 2018 6:39 pm

Maybe. There was an interesting article today talking about some of the older estates becoming ghost towns as their leases get close to expiry. Personally I think this whole mess is unfixable without something radical such as a lease extension.
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