New Cap For 1St Timers

[bepgof 20]

Minister Mah revealed yesterday that the income ceiling for new BTO flats could be raised to S$10K after the GE. Or the income ceiling may be waived off.

What will be impacts? Good? No good?

Edited May 4, 2011 by bepgof

[ngunadi 2]

It's good but OTOH, they should look closely to the prices of the homes.

- Now ppl with high income is pushed to EC.

- EC are expensive, an Austville EC in sengkang cost ard $600k ++. Significantly,30-40% higher than hdb in its surroundings.

- The high-income ceiling is pushing ppl to spend more in housing, ieither under hdb or private. So best to abolish it.

- Why stop ppl who want to buy smaller house to save $$?

[gimz63251073 0]

good for those earning between 8-10k

bad for those earning below 8k

- more competition for limited flats, higher chance of not getting one

- more demand = govt can launch more flats 1 month later at higher price, more money for our reserves

good for govt:

- can increase the median income of applicants and show that hdb is affordable (by not decreasing price)

- use it to satisfy those who are unhappy about HDB policies, the "sandwiched" group. especially at such a sensative time. though i thing MBT would still win

- make more people happy and use statistics to "prove" the affordability of flats.

- tie more people down to the hdb flat/property and use upgrading/improvement of facilities as a carrot 5yrs later

[forgotten 1]

The govt may be considering that because they intend to raise the BTO prices up further.

[kellyla 1]

prob can consider to scrap the HDB 2.6% interest on loans for Sporeans. This way, the young Sporeans would pay off faster or their instalments would have reduced and their CPF savings would have increased.

[therat 18]

if interest free, I don't mind take up 100 yrs loan

[gimz63251073 0]

if interest free, I don't mind take up 100 yrs loan

that would be raiding the reserves!

[bepgof 20]

I attached some links here, not much related to the thread, but can tell the sincerity degree as to "sorry", who opened the floodgate ambitiously, how Grace Fu & Mah reacted as to public housing then (2008-2009), the 3C tactics. How the MND treated the LUP programme in Hougang(Imagine if you were the chairman of Hougang TC, how you feel)

http://www.temasekreview.com/2010/01/11/grace-fu-hard-to-predict-short-term-demand-for-housing/

http://houganger.blogspot.com/2009_10_01_archive.html

See how thelittle good-for-nothing "smoked" around with 3C

Data Point #1 (Oct 7 2009) - 80% first try applicants offered BTO flat. 96% second try applicants offered BTO flat.

Data Point #2 (2007) - 67% of first try applicants reject offer.

Data Point #3 (May 2008) - 52% of first try applicants reject offer.

Catch any ball?

http://www.temasekreview.com/2010/02/12/panicky-hdb-releases-more-bto-flats-to-allay-widespread-fear-of-shortage-in-public-housing/comment-page-2/

http://wp.sg/2009/10/no-basis-for-mp-not-to-announce-lift-upgrading/

http://www.xtremeplace.com/yabbse/index.php?topic=67657.0

[bepgof 20]

HDB announced to build

1. 16,xxx flats (BTO, DBSS, EC)in 2010

2. 22,000 flats (BTO, DBSS, EC) in 2011. May be MORE to come.

Now with the:

-NWC recommendation to increase wage, when to implement??

-CPF contribution capping to increase from $4,500 to $5,000, when to implement??

-The review if ceiling increase will take 6 months, applicable to BTO only, as DBSS, EC already in the range of 8k-10K.

Impacts foresee:

- Takeup rate of DBSS/EC will dramastically slide down, all would-be buyers stay aside and wait.

- Developers(CDL, Sim Lian.....)"swear seow" - kena the "arrow" from little-good-for-nothing, have to come out with "secret weapons" to sell, sell & sell existing ones(EC & DBSS).

- Those looking for resale, due to 8k capping, pull a brake and wait. Who "swear seow"? COV, resale price.

Why put the caps here & there to disturb the free market? Then modify the caps here & there again - too free, nothing to do? Then now say "sorry". Gave you the vote of confidence kena treated like monkey being kicked here & there, very fun hor?

Edited May 4, 2011 by bepgof

[therat 18]

-CPF contribution capping to increase from $4,500 to $5,000, when to implement??

The CPF salary ceiling will be adjusted upwards from $4,500 to $5,0001. The change applies to all age groups and will take effect from 1 September 2011.

[forgotten 1]

HDB announced to build

1. 16,xxx flats (BTO, DBSS, EC)in 2010

2. 22,000 flats (BTO, DBSS, EC) in 2011. May be MORE to come.

Now with the:

-NWC recommendation to increase wage, when to implement??

-CPF contribution capping to increase from $4,500 to $5,000, when to implement??

-The review if ceiling increase will take 6 months, applicable to BTO only, as DBSS, EC already in the range of 8k-10K.

Impacts foresee:

- Takeup rate of DBSS/EC will dramastically slide down, all would-be buyers stay aside and wait.

- Developers(CDL, Sim Lian.....)"swear seow" - kena the "arrow" from little-good-for-nothing, have to come out with "secret weapons" to sell, sell & sell existing ones(EC & DBSS).

- Those looking for resale, due to 8k capping, pull a brake and wait. Who "swear seow"? COV, resale price.

Why put the caps here & there to disturb the free market? Then modify the caps here & there again - too free, nothing to do? Then now say "sorry". Gave you the vote of confidence kena treated like monkey being kicked here & there, very fun hor?

Desperate person calls for last minute desperate measures in order to save the sinking ship

PAP said that they are importing another 900K foreigners into Singapore. Some of them will become PRs. They may make up for the lost demand in the resale market?

Edited May 5, 2011 by forgotten

[gimz63251073 0]

My view is that increase in ceiling of 8k will drive bto price up, then pte property will increase as well. Unless sg have too many hse...but no speculators..

[forgotten 1]

My view is that increase in ceiling of 8k will drive bto price up, then pte property will increase as well. Unless sg have too many hse...but no speculators..

MBT's measures has also reduced the supply in the HDB resale market.

[bepgof 20]

At times I wonder, PRs should only be allowed to rent public housing, or purchase pte property. Until they're determined and become a citizen, then allowed to puchase public housing.

We're now moving towards 1/3 "FT" policy = 3 citizens with 1 FT.

Can anyone enlighten me this "FT" include what?

1. All sorts of employment holder = not PR status

2. PRs

3. Citizen who have converted from PR to citizen, or from "no status" to citizen.

Edited May 6, 2011 by bepgof

[May_dream1 14]

No status cannot apply for citizenship. At least must have PRs for 2 years.