HDB suffers S$2b deficit

[nemesis32]

Wah lao!! U believe ah? Read an article from Straits Times last yr, some construction engineer wrote in to say why HDB flats so exp. He broke down the cost to show how much its to build a block of flat & HDB actually earns more than 2x the cost by selling it $220k per 4 room. Mind u this price is for an ulu estate, those matured redevelop estate is above 400k.

On top of that profit, they loan u money & u pay interest for 20 - 30yrs, another big income for them. My 3 rm flat 11yrs loan already choked up 50k interest liao. :complain:

Mr Mah still say "U people have to be realistic, HDB flats r heavily subsidised by govt...." If anyone rem the recent news not too long ago :ipuke:

3rm flat 11 yr loan 50k interest? that can't be right..

 

[tenpa]

Whats there to cool? The ball has always been in their court. I'm sure u r fully aware who gave the approval chop for valuation reports right? Ever wonder why the huge plunge in econ & HDB resale flats still sky high? U really think its purely supply & demand? They control it all this time, the very same body allows for such exorbitant prices to go on so their direct sales look dirt cheap. Who in the world has ever heard of PUBLIC HOUSING rated more than 1/2 mil (more than 700k)? Its really getting out of hand... next 2 decades if this doesn't change, there will be many sleeping in the streets, direct opp of what the vision was back in the 60s.

I agree with you . I really hate it when they play with us like this. First the transport, now housing... :nono:

Its the same brain behind all these things.. :thumbsd: The middle class and home grown citizen suffer, now a life long mortgage is a norm........

 

[Royale With Cheese]

how to win ? i use to vote, suddenly with the increase in opp votes, the next thing is my area become part of another GRC further away when actually its nearer elsewhere... :bsmilie:

those who vote will know all votes are traceable, write ur vote voucher serial next to ur NRIC and they say cannot trace... :bsmilie:

thats why i never recite the pledge cause i never believe in it... i only believe in money talks... and its all about money never, about the ppl...

what can I say...

Big brother is always watching :sweat:

 

[iMac08]

welcome to Shingzapore......the lsat i check my monthly is almost 1.6k and half is interest by calculation if i not wrong...where got deficit? low interest yes. but things also got more ex..so profit shld not be too bad...subsidise is BS to me...ask them if they dare to quote unsub price to the people..they will just keep quiet.

 

[Canonised]

the whole concept devised by the Great One is so simple ....

first, to protect the Country, we "give" a home to ALL citizens. Then when everyone has a home, he will fight for his country with his life to protect his family and his home.

then, to make sure everyone is happy, we must make him feel that his home appreciates in value every year. To do that, we control the supply.

So now everyone has a home, and the prices keep increasing. So everyone must be HAPPY now, right? And everyone has to work hard for the rest of your life to pay off the mortgage, and as such will fight for the country to protect your expensive homes.

Simple? ... logical? :dunno:

 

[iMac08]

the whole concept devised by the Great One is so simple ....

first, to protect the Country, we "give" a home to ALL citizens. Then when everyone has a home, he will fight for his country with his life to protect his family and his home.

then, to make sure everyone is happy, we must make him feel that his home appreciates in value every year. To do that, we control the supply.

So now everyone has a home, and the prices keep increasing. So everyone must be HAPPY now, right? And everyone has to work hard for the rest of your life to pay off the mortgage, and as such will fight for the country to protect your expensive homes.

Simple? ... logical? :dunno:

Yes...Your Royal Majesty..your wish is my command....:bsmilie:

 

[nightpiper]

3rm flat 11 yr loan 50k interest? that can't be right..

I was shocked too but thats what i was told. If i sell the house now, i've to put back that 50k , supposedly gained from interest if i hadn't used it, back to CPF. The extra balance is my cash component which i can choose to wipe off if i want another house or withdraw from CPF & use outside. This was from an officer in HDB hub, i had to q to talk to him so guess he must be right. :sweat:

 

[nightpiper]

U know, currently if u apply for a house, u pay $10. I can already anticipate Mr Mah saying "Its going to be $100. Be realistic, if u guys want to buy a house thats several hundreds of thousands, $100 app fee is not significant at all. If u can't even afford to pay $100, then u shudn't be buying a house in the 1st place. I can raise it to $500 if i want to, u believe or not?"

Looking at the recent Oct open app, well there were 2k+ houses available & 20k+ applicants. By raising the app fee to $100... Hmmm... Let see... That'll be $2m straight into the pocket w/o much work, for an open app exercise. Since the profit is so easy, how about another drop from the ocean again for all ministers? Sounds good!! Yet another beautiful trick out of the hat, effortlessly. :ipuke:

 

[Lenscapes]

They did once during the last financial crisis, started up another "private" arm for these retrenched people & then gave them the axe there, so it has nothing to do with stat board decisions, their hands r very clean. Whatever happened to that arm, i haven't a clue now.

now i remember... Surbana Corp

 

[artspraken]

obviously all of you do not understand HDBconomics.

HDB is actually in the business of LOSING MONEY to fund rises in cash over valuations, HDB resellers' asset enhancement and tidy profits, altruistic lift upgrading, and keeping the jobs market buoyant.

It's high time they are registered and honoured as a Charity Organization.

:thumbsup:

I agree.

 

[Royale With Cheese]

obviously all of you do not understand HDBconomics.

HDB is actually in the business of LOSING MONEY to fund rises in cash over valuations, HDB resellers' asset enhancement and tidy profits, altruistic lift upgrading, and keeping the jobs market buoyant.

It's high time they are registered and honoured as a Charity Organization.

I agree.

Hope TT Durai or Ming Yi Fa Shi does not take over the hdb charity organisation :sweat::bsmilie:

If not we would have to fork out more for the horses & gold taps :bsmilie:

 

[eyes]

Anyone knows where's TT Durai? I thought he's suppose to rub some bars with zilbra plints. Shingz....