Why Hougang flats' value is lower

[mr funny]

http://www.straitstimes.com/PrimeNews/Story/STIStory_663012.html

Apr 30, 2011

GE 2011

Why Hougang flats' value is lower

By Chang Ai-Lien, Senior Correspondent


HOMES in Hougang (below) cost less than similar ones in neighbouring areas because they belong to an opposition ward, said Minister Mentor Lee Kuan Yew last night.

'If you have the wrong government, your property prices go right down,' he warned.

'Ask why in Hougang the property prices are not as high as their neighbours'.'

He added: 'If Singaporeans are that fickle, they will have to pay a price, the hard way.'

Hougang has been held by the Workers' Party since 1991. Its incumbent MP, Mr Low Thia Khiang, has left it to his protege Yaw Shin Leong to defend the seat as he leads his party's charge to capture Aljunied GRC in this election.

Mr Lee was speaking to reporters after visiting Tampines, where he was showing his support to the People's Action Party (PAP) team in that GRC.

Housing has emerged as a hot-button issue in this election, with opposition parties taking the Government to task over escalating costs and offering alternative housing proposals such as reducing new flat prices by paying less for state land, or pegging the price of new Housing Board (HDB) flats to median household incomes.

Though prices of HDB flats have risen over the past few years, the Government has said that new HDB flats remain affordable, with most buyers needing to come up with little or no cash to pay for their homes. For example, last year, eight in 10 couples who bought new flats used a quarter or less of their salaries to service their home loans, with the rest of it coming from their Central Provident Fund (CPF) contributions.

National Development Minister Mah Bow Tan gave these numbers last weekend in the continuing war of words with the opposition over the affordability of housing.

Asked about the opposition's claims, Mr Lee noted that the value of Singaporeans' flats had grown over the years.

In creating public housing for 85 per cent of the population, he said the Government had given people a valuable asset which was guaranteed to make them money.

'Where else in the world has the government produced homes for every family, except those who buy private property?' he asked.

'You cannot lose, because we're regularly renewing, upgrading, making lifts stop on every floor, and generally refurbishing because we want everybody's property to go up in value.'

The strategy of having people own their own homes was born in the 1960s, said MM Lee, when the Government saw home rentals going up in tandem with wages in places such as South Korea, Taiwan and Hong Kong. Since many people there did not own their own homes, they decorated their cars instead, treating them like homes.

'But they are valueless after three, four years,' he said.

'Here, you own a home.'

[wenqing]

Every elections, PAP compare property prices between Opposition and PAP areas but this tactic did not work as seen by the elections results at Opposition areas for past 27 and 20 years.

This is because Singaporeans are smarter than fearmongering and threats.

Location of property determinds the price, not politics.

When a run down 4 room 40 years old flat at Bras Basah can sell for $650,000, you know location determinds everything and prices are crazy.

PAP should show some data to back up PAP statement. We had gone through this debate in previous thread.

Property websites had shown Opposition areas property price are as high as PAP areas in same vicinities.

Opposition property values are even higher than PAP areas in different vicinities.

Property websites had proved PAP statements to be untrue and whatever PAP say now has no credibility anymore.

PAP are doing their usual election fearmongering and threats again thats all.

PAP no longer win votes by earning voters trust and voters affection using their ability.

If you observe, PAP is using more threats and fearmongering as before.

PAP hardly talk about Singapore policies and plans for next 5 years to win votes.

The vote will have little value if Singaporeans need to vote thinking about property value only.

It will be very sad.

If invasion happens, enemy promises not to hurt property value and property, will Singaporeans also surrender and switch sides ?

Really sad.

[land118]

Personally, PAP has a hand in why these opposition flats in Hougang is such. Of course, one would argue market forces determine price but why it is this way?That' s becos we all know by now flats in opposition will be of last priority to get any form of upgrading....., many in the lower middle or lower income are fed up of hearing this at each and every election, most have grown immune now, friends of mine in KOPI Tiam talk is that this election, they will vote decisively. Just now, a friend of mine working in statutory board told me that his colleagues ask him if they can actualy vote for opposition- they are fearful that they will be "marked" and stagnate in their careeer...Truely, many working for government do not dare to vote freely, they still link Government = PAP.

[wenqing]

Personally, PAP has a hand in why these opposition flats in Hougang is such. Of course, one would argue market forces determine price but why it is this way?That' s becos we all know by now flats in opposition will be of last priority to get any form of upgrading....., many in the lower middle or lower income are fed up of hearing this at each and every election, most have grown immune now, friends of mine in KOPI Tiam talk is that this election, they will vote decisively. Just now, a friend of mine working in statutory board told me that his colleagues ask him if they can actualy vote for opposition- they are fearful that they will be "marked" and stagnate in their careeer...Truely, many working for government do not dare to vote freely, they still link Government = PAP.

Your story is very sad for Singapore and its future growth.

You should tell you friend to go ahead and vote Opposition because vote is secret and I had many civil service friends and grassroots friends voted Opposition and nothing happen to them and they still get promoted.

It is just Urban Legend.

[Geylang OKT]

Vote Opposition! Vote for lower property prices! :D :D :D

[devilplate]

vote for 5-82!:D

[Geylang OKT]

vote for 5-82!:D

I am just a geylang okt! :D :D :D

[amk]

Personally, PAP has a hand in why these opposition flats in Hougang is such. Of course, one would argue market forces determine price but why it is this way?That' s becos we all know by now flats in opposition will be of last priority to get any form of upgrading.....

Thank you for telling someone indirectly the fact, that indeed HDBs in opposition wards are depressed. Even though i know tis wasn't ur intention.

And i agree with you on the cause. There is nothing secret about it. Politics is of course dirty. Why should i make life easy for opposition ?

[Regulators]

If Hougang flat prices indeed low, then all those noise-makers who say that flats are expensive for first time buyers just move to hougang lor.

[wenqing]

Thank you for telling someone indirectly the fact, that indeed HDBs in opposition wards are depressed. Even though i know tis wasn't ur intention.

And i agree with you on the cause. There is nothing secret about it. Politics is of course dirty. Why should i make life easy for opposition ?

Politics is dirty is poor excuse to cause bad precedents for future governments to follow.

Government has the duty and power to set things right for Singapore and not just for PAP.

Did not PAP want inclusiveness yet they practise such divisive tactics and encouraging development of weak Singapore characters.

With your logic,you are saying it is normal rob a poor neighbour's house if you are rich and powerful and it is no crime.

Then we should see constant world wars instigated by rich and powerful nations stamping all over poorer and smaller nations.

Then I guess for you, it is fine for our bigger neighbours to invade us, rape and kill the people and not make things easy for Singaporeans without regard to international law.

It is normal for stronger gangsters to bully weaker people on the streets.

We do not need laws, police or even government anymore. Life is unfair anyway so why bother.

Sad to see a Singaporean to have such views.

[romeo]

If Hougang flat prices indeed low, then all those noise-makers who say that flats are expensive for first time buyers just move to hougang lor.
den this will move up the prices in hougang.. den y hougang prices high, becoz opp ward mah

[Regulators]

i checked the caveats for hougang flats, there is nothing to indicate the prices are lower than other estates. In fact, bukit panjang under PAP has 5 room flats costing 3xxk while hougang's cheapest 5 room flats cost 4xxk. Who came out with the idea that hougang flats are cheaper than elsewhere?


den this will move up the prices in hougang.. den y hougang prices high, becoz opp ward mah

[romeo]

i checked the caveats for hougang flats, there is nothing to indicate the prices are lower than other estates. In fact, bukit panjang under PAP has 5 room flats costing 3xxk while hougang's cheapest 5 room flats cost 4xxk. Who came out with the idea that hougang flats are cheaper than elsewhere?

the most used word in these few weeks leading to polling day: fear-mongering

now my only fear is 87-0..
this to me will be darkest day in singapore history n politics

[wenqing]

http://forums.hardwarezone.com.sg/showthread.php?t=3213499 (http://forums.hardwarezone.com.sg/showthread.php?t=3213499)


Opposition wards HDB prices.. interesting..


I got this interesting facts from another source..


i am find it strange pap keep harping vote in WP will result in HDB price to fall. But if want look at the HDB records on the HDB website, one can see HDB flats in Hougang Ave 5 which is the heart of Hougang SMC, the prices of the 4room flats that transacted there are not much different from Hougang Ave 8 which was run by georgie aljunied grc. The prices for the last 12 months are as follow:

Hougang Ave 5 3rm flat : ranging from $245K to $330K (WP)

Hougang Ave 8 3rm flat : ranging from $220K to $326K (PAP)

Hougang Ave 5 4rm flat : ranging from $305K to $420K (WP)

Hougang Ave 8 4rm flat : ranging from $290K to $420K (PAP)

Hougang Ave 5 5rm flat : ranging from $340K to $527K (WP)

Hougang Ave 8 5rm flat : ranging from $390K to $496K (PAP)

looking at the above figure, i fail to comprehen how did PAP come up with the logic that WP run hougang HDB flat worth less than the same across the road in the PAP run estate.


The figure above are not bull****, all taken from HDB resale e-service. On the whole, WP's Hougang worth more than PAP's Hougang. In fact, i use Hougang Ave 8 as comparsion place hougang ave 5 at a disadvantage as Hougang Ave 5 were built in 1983 while Ave 8 were built in 1986, some even in 1992.

So can PAP explain why people are paying more to buy a older flat in a "slum" while pay less for the newer flat in a "world clas estate" run by the PAP?

http://services2.hdb.gov.sg/webapp/BB33RTIS/BB33PReslTrans.jsp (http://services2.hdb.gov.sg/webapp/BB33RTIS/BB33PReslTrans.jsp)

feel free to click on the link to check, all the figures are from HDB website.

[Montaigne]

We are also paying taxes. CAn WP do anything to ensure that Opp GRC gets enough funds for upgrading just like the PAP GRC? It is so unfair. If this continues, who dare to vote the opp? Seeing that their flat and neigbourhood has no chance of upgrading while other areas are getting newer and nicer? One day sure cannot take it and vote PAP.

[devilplate]

We are also paying taxes. CAn WP do anything to ensure that Opp GRC gets enough funds for upgrading just like the PAP GRC? It is so unfair. If this continues, who dare to vote the opp? Seeing that their flat and neigbourhood has no chance of upgrading while other areas are getting newer and nicer? One day sure cannot take it and vote PAP.

actually i find hougang quite ok....only PP damn jialat.....mabe they see CST old old can bully?:scared-3:

[devilplate]

actually hougang got HG Mall....

PP dun even hf a NTUC? LOL

condos in PP more expensive den simei condos but their HDB px in fact is slightly lower den simei HDB.....why? tink about it?

[devilplate]

ever wonder y pinnacle @duxton is not located at potong pasir or hougang....y ? or rather not even happening in Tamp whr MBT is? LOL

[sleek]

So we should vote for opposition and also no taxes! :D


We are also paying taxes. CAn WP do anything to ensure that Opp GRC gets enough funds for upgrading just like the PAP GRC? It is so unfair. If this continues, who dare to vote the opp? Seeing that their flat and neigbourhood has no chance of upgrading while other areas are getting newer and nicer? One day sure cannot take it and vote PAP.

[devilplate]

So we should vote for opposition and also no taxes! :D

wait u all goto throw ur own rubbish.....fetch ur own water from well....LOL

[bargain hunter]

good wat, WP is providing affordable housing in hougang. :)




If Hougang flat prices indeed low, then all those noise-makers who say that flats are expensive for first time buyers just move to hougang lor.

[Regulators]

Best for hdb to locate their first landmark iconic project in the central, later projects can go to the heartlands


ever wonder y pinnacle @duxton is not located at potong pasir or hougang....y ? or rather not even happening in Tamp whr MBT is? LOL

[devilplate]

Best for hdb to locate their first landmark iconic project in the central, later projects can go to the heartlands

ya rite....

again every1 entitled to their opinion;)

[DC33_2008]

I thought property prices varies with location. I am not surprise Hougang is a better location than Bukit Panjang. But well with the injection of more new projects at lo10 mile junction and hillview areas with FEO coming in, price of HDB will move up around bukit panjang plaza.
i checked the caveats for hougang flats, there is nothing to indicate the prices are lower than other estates. In fact, bukit panjang under PAP has 5 room flats costing 3xxk while hougang's cheapest 5 room flats cost 4xxk. Who came out with the idea that hougang flats are cheaper than elsewhere?

[wenqing]

http://geraldgiam.sg/2010/07/opposition-wards-achieve-more-with-less/


Opposition wards achieve more with less (http://geraldgiam.sg/2010/07/opposition-wards-achieve-more-with-less/)

By Gerald Giam
4 July 2010 | 4,282 Reads | 9 Comments | http://geraldgiam.sg/wp-content/plugins/wp-print/images/print.gif (http://geraldgiam.sg/2010/07/opposition-wards-achieve-more-with-less/print/) Print (http://geraldgiam.sg/2010/07/opposition-wards-achieve-more-with-less/print/) | http://geraldgiam.sg/wp-content/plugins/wp-email/images/email.gif (http://geraldgiam.sg/2010/07/opposition-wards-achieve-more-with-less/email/) Email (http://geraldgiam.sg/2010/07/opposition-wards-achieve-more-with-less/email/)


The Straits Times carried a commentary (http://www.transitioning.org/2010/07/03/perception-of-bias-dents-town-council-reports-credibility/) by one of its journalists today criticizing the Government’s handling of the Town Council Management Report (TCMR). The journalist gave the Government “at best an E -” grade for “effort”. In other words, the Government failed miserably. (In the ‘O’ levels, a ‘D’ is already a failing grade.)


My 13 June blog post, Underwhelmed by town council report (http://geraldgiam.sg/2010/06/underwhelmed-by-town-council-report/), was quoted in the ST article:

Workers’ Party member Gerald Giam wrote on his blog: ‘Why does the MND suddenly feel the urge to tell residents what they should think of their town councils, and by extension, their MPs?
‘Residents are personally affected by their town council’s performance. If they feel that their MPs are not performing, they would have voted them out long ago.’
– “Perception of bias dents report’s credibility”, Straits Times, 3 July 2010.
Accompanying the ST article were two charts derived from the town council annual reports and the Government Budget Book. The first one compared the government grants for all 16 town councils:


http://i104.photobucket.com/albums/m173/multiplex77/TownCouncilGrants_ST_3Jul10.jpg


It’s a no-brainer to identify the two opposition wards, Hougang and Potong Pasir. Their grants are dwarfed by the other town councils.


Even taking into account the smaller size of their wards, the opposition wards still receive far less per resident. Notice in the diagram that the two opposition wards are given no funds at all for “town improvements” via Community Improvement Programme (CIP), whereas all the PAP wards have generous amounts of CIP funds lavished on them.


These are channelled through the Citizens’ Consultative Committees (CCCs), another taxpayer-funded grassroot (http://geraldgiam.sg/2009/10/how-pap-uses-taxpayer-funded-grassroots-for-political-gain/) outfit widely recognised as being aligned to the PAP.

Let’s take a look at the next table:


http://i104.photobucket.com/albums/m173/multiplex77/NationalUpgradingFigures_ST_3Jul10.jpg



This is another jaw-dropper. In total since the last election in 2006, the Government has splurged almost $3 billion on various “national” upgrading programmes. As far as I am aware, none of these funds are shared with opposition wards.


This is pork barrel politics at its worst. (Wikipedia defines pork barrel politics as “spending that is intended to benefit constituents of a politician in return for their political support”.)


Where are the “slums”?


Given this obscene disparity in funding, one would expect Hougang and Potong Pasir to be real dumps compared to PAP wards. (Goh Chok Tong predicted on the eve of the 1997 polls that they would become “slums”.)


However, this is clearly not the case. Even the Straits Times, referencing the town council report, acknowledged that “the opposition councils were…on a par with their PAP peers on most other indicators, such as cleanliness and lift performance“.


(Keep in mind that the town council report very conveniently excluded management of sinking funds as a measure of the town councils’ performance.


This is an area that most of the PAP town councils would have fared very poorly in, but one in which opposition wards would have excelled.)


In fact, even putting aside the facts and figures, Singaporeans living in other wards should take a trip down to Potong Pasir or Hougang to see those wards for themselves. While there is an absence of outlandish sculptures or expensive artificial landmarks like those found in some PAP wards, the improvements that genuinely benefit residents have been made.



For example, in Potong Pasir, the town council headed by Chiam See Tong built a walkway linking the MRT station to the housing estate, all from its own funds. Hougang MP Low Thia Khiang used $500,000 of his town council’s funds to upgrade the lifts in several blocks on Hougang Avenue 3 and 7.

This is unheard of in PAP wards. PAP town councils have to co-pay a mere fraction of the lift upgrading costs, with the bulk of it being borne by the Government. (In another sickening act, just seven years later, the HDB demolished those upgraded blocks, while refusing to reimburse Hougang Town Council the costs for the unexpired cyclical period.)


Blocks in Hougang have also been spruced up and renovated, to the extent that some of the lift lobbies look almost like those in private condos. An example is shown in this photo below that was taken from the Straits Times today.


http://i104.photobucket.com/albums/m173/multiplex77/HougangFlat_ST_3Jul10.jpg


Ultimately, the best judges of the town councils’ performance are residents themselves.


Chiam See Tong has been re-elected five times and Low Thia Khiang has been re-elected three times since they first won their seats in 1984 and 1991 respectively. Chiam has been in office longer than any other PAP backbencher.


All this is proof that the two opposition town councils have done exceptionally well, even with less funding and a host of factors stacked against them.


Residents in PAP wards should talk to their friends and family in Hougang and Potong Pasir and discover for themselves that decent opposition politicians can do a good job in running their wards, if given the opportunity.

[wenqing]

Given all conditions and funding not as equal, Chiam See Tong and Low Thia Khiang already perform better as MPs than most of the PAP MPs in managing the estates.

What if all things equal.

[ysyap]

What Chiam CT and Low TK built up in PP and Hougang is more than just buildings. They've built hearts which dares to make a difference and are not satisfied with status quo, hearts that dare to venture. :spliff:

[devilplate]

VOTE FOR GERALD GIAM:D

[wenqing]

What Chiam CT and Low TK built up in PP and Hougang is more than just buildings. They've built hearts which dares to make a difference and are not satisfied with status quo, hearts that dare to venture. :spliff:

Chiam and Low also build the Singapore character and resilience which is in line with SAF creed and Defence creed I suppose.

[amk]

Politics is dirty is poor excuse to cause bad precedents for future governments to follow.

Government has the duty and power to set things right for Singapore and not just for PAP.

Did not PAP want inclusiveness yet they practise such divisive tactics and encouraging development of weak Singapore characters.

It is normal for stronger gangsters to bully weaker people on the streets.

We do not need laws, police or even government anymore. Life is unfair anyway so why bother.

Sad to see a Singaporean to have such views.

Dude look at ur way of extrapolating.

I simply tell you to face reality ! Yes u can continue to feel sad. This world is not fair. Want to change it ? No problem, prepare for a tough fight. Dun cry out loud to the world " how can this how can that". Fight for your survival, and wish yourself luck.
LKY was half lucky last time. Had the Partisan National not staged a walk out, he wouldn't have seized the power that easily. For your opposition this time, you now have your golden opportunity, since pap miscalculated their chances. Dun scream out loud if you failed to seize it.

[romeo]

pap never miscalculated or take chances when it comes to seizing all seats in elections.. thru' careful calculated risks, they will draw n re-draw electoral boundaries to ensure best chances/results at all smc n grc.

to such extent that some areas of blocks, particularly of former aljunied, have gone thru THREE different grcs in three elections..

no wonder even pap's palmer was confused:doh: n had to apologise for his blunder.. desmond lim, opp party was even clearer abt the ward than him..

honest mistake, let's move on..

damn.. im soo gona buy this t-shirt at The Online Citizen..

[romeo]

VOTE FOR GERALD GIAM:D

yes i will!! Gerald Giam is contesting at my east coast grc

[devilplate]

yes i will!! Gerald Giam is contesting at my east coast grc

wasted talent in the opp team:(

i like the way lim swee say telling the rojak story leh....

logical and make sense....HOW?

let the voters decide

[mantrix]

wasted talent in the opp team:(

i like the way lim swee say telling the rojak story leh....

logical and make sense....HOW?

let the voters decide

why wasted? wasted or not is up to him decide and he's made his choice after serious deliberation i'm sure. What's ours?

[Geylang OKT]

why wasted? wasted or not is up to him decide and he's made his choice after serious deliberation i'm sure. What's ours?

Vote Opposition! Vote for lower property prices! :D :D :D

[devilplate]

why wasted? wasted or not is up to him decide and he's made his choice after serious deliberation i'm sure. What's ours?

i am no talent in the 1st plc....so just join this forum to kpkb:ashamed1: :D

[Geylang OKT]

I just want a better life for my down trodden chickens :D :D :D

[mantrix]

Vote for the Special One!

I don't want cheaper private property prices, but more affordable public housing instead for first time buyers.

Perhaps what they should do is to give them options.

Buy standard rate with MOP of 5 years.

Buy 20% extra off standard rate with MOP of 10 years (and this won't affect resale prices so much)

Everybody happy! :D

[devilplate]

Vote for the Special One!

I don't want cheaper private property prices, but more affordable public housing instead for first time buyers.

Perhaps what they should do is to give them options.

Buy standard rate with MOP of 5 years.

Buy 20% extra off standard rate with MOP of 10 years (and this won't affect resale prices so much)

Everybody happy! :D

no opposition propose removal of 4yrs SSD.....surely win my vote!

the more richies/ppty investors flip flop....the more govt earns! use the buyer stamp duty to help the poor!:D

[mantrix]

no opposition propose removal of 4yrs SSD.....surely win my vote!

the more richies/ppty investors flip flop....the more govt earns! use the buyer stamp duty to help the poor!:D

start your own SDP party (Singapore Devil Plate)!

I will vote for you confirm :D

[devilplate]

start your own SDP party (Singapore Devil Plate)!

I will vote for you confirm :D

remove 4yrs SSD!!!! and revert back to 3yrs SSD at 3%!!! buy and sell govt make 3+3%!!!!!! singaporeans like to flip flop rite? make them contribute more taxes to help the poor!!!!

improve on LTV structure instead to protect the banks and prevent ppl from overleveraged by:

1st ppty 80% LTV
2nd ppty 60% LTV
3rd ppty onwards 40% LTV

HUAT ARGH! for the better tmr!!!!

vote for singapore devil party!:D

[hopeful]

remove 4yrs SSD!!!! and revert back to 3yrs SSD at 3%!!! buy and sell govt make 3+3%!!!!!! singaporeans like to flip flop rite? make them contribute more taxes to help the poor!!!!

improve on LTV structure instead to protect the banks and prevent ppl from overleveraged by:

1st ppty 80% LTV
2nd ppty 60% LTV
3rd ppty onwards 40% LTV

HUAT ARGH! for the better tmr!!!!

vote for singapore devil party!:D

Will you allot more FW/FTs to enter?
if yes, I also vote for SDP, why not rename it to Singapore Property Party?

[ysyap]

remove 4yrs SSD!!!! and revert back to 3yrs SSD at 3%!!! buy and sell govt make 3+3%!!!!!! singaporeans like to flip flop rite? make them contribute more taxes to help the poor!!!!

improve on LTV structure instead to protect the banks and prevent ppl from overleveraged by:

1st ppty 80% LTV
2nd ppty 60% LTV
3rd ppty onwards 40% LTV

HUAT ARGH! for the better tmr!!!!

vote for singapore devil party!:DYes vote for SDP (Singapore devil party)... Revert back to 1 year SSD... LTV 80% for all ppty..:D

[mantrix]

remove 4yrs SSD!!!! and revert back to 3yrs SSD at 3%!!! buy and sell govt make 3+3%!!!!!! singaporeans like to flip flop rite? make them contribute more taxes to help the poor!!!!

improve on LTV structure instead to protect the banks and prevent ppl from overleveraged by:

1st ppty 80% LTV
2nd ppty 60% LTV
3rd ppty onwards 40% LTV

HUAT ARGH! for the better tmr!!!!

vote for singapore devil party!:D

go SDP!!! And set a limit to how many properties the rich can own! :P

[devilplate]

go SDP!!! And set a limit to how many properties the rich can own! :P

UNLIMITED!

dun make sense to control the rich.....let them buy and sell more! the more the merrier.....each tx cost them 3+3%!:D

[devilplate]

Yes vote for SDP (Singapore devil party)... Revert back to 1 year SSD... LTV 80% for all ppty..:D

cannot....wait i become the creater of SG version of subprime crisis:p

[hopeful]

cannot....wait i become the creater of SG version of subprime crisis:p

to become creator of subprime, you need to implement,
1st private: LTV 95%.
2nd: LTV 90%.
3rd: LTV 85%.
and so on.....

Also make HDB available for foreigners, no subsidies of course.
People will line up to thank you because the price of HDB will shot up to the sky. As you said, the more people churn, the more stamp duties 3+3% for government.

Then when price crash, you pick freefall durians and people will still line up to thank you for buying from them. :D

[Regulators]

I think wks eat too much chicken until FT policies all garbled up liao
I just want a better life for my down trodden chickens :D :D :D

[mantrix]

I think wks eat too much chicken until FT policies all garbled up liao

he wasn't very popular with his class-mates back in school...if you know of anyone can ask them

[teddybear]

Remove all SSD except for 1st year lah!
Protect the banks from people over leveraging, 80% LTV not enough mah? Why need to differentiate 1st property, 2nd property etc? Most other countries even allow 90% LTV without problem.
Why they allow the banks to grant almost 100% loan for cars and didn't say about protecting the banks? (when we all know cars once sold immediately become only worth 90% of its original sold price) :banghead:


remove 4yrs SSD!!!! and revert back to 3yrs SSD at 3%!!! buy and sell govt make 3+3%!!!!!! singaporeans like to flip flop rite? make them contribute more taxes to help the poor!!!!

improve on LTV structure instead to protect the banks and prevent ppl from overleveraged by:

1st ppty 80% LTV
2nd ppty 60% LTV
3rd ppty onwards 40% LTV

HUAT ARGH! for the better tmr!!!!

vote for singapore devil party!:D

[wenqing]

http://mrwangsaysso.blogspot.com/2011/05/property-values-and-your-choice-of.html (http://mrwangsaysso.blogspot.com/2011/05/property-values-and-your-choice-of.html)


Property Values and Your Choice of Political Party





When I read about Low Thia Kiang leaving Hougang to run for elections in Aljunied GRC, I felt fear and dismay.

Low is well-known and very well-loved in Hougang, and if he had chosen to remain in Hougang, his seat in Parliament would be almost guaranteed. However, when Low comes to Aljunied GRC, it's a different ball game, especially with the PAP's gerrymandering tactics.

If Low should lose in Aljunied GRC, then this would be a disaster for Singapore. It would be a very dark day in the history of this nation.

For so many years, Low has been the (almost) lone Opposition voice in Parliament, one man standing up and bravely speaking up against a pack of 80+ PAP MPs.


It takes no courage whatsoever to be a Mah Bow Tan or a Wong Kan Seng in Parliament, but it takes great courage to be a Low Thia Kiang. To his immense credit, Low has done his job and served Singaporeans well, not just for a year or two, but for the past 20 years.

If Low loses in Aljunied GRC, then even that one lone voice in Parliament might be gone, silenced for good. It is possible that parliamentary debate might then degenerate into an utter sham.


Nothing but a puppet show with PAP MPs posing nice, friendly, pre-arranged questions to each other and giving nice, friendly, rehearsed answers to each other.


There would be nobody to challenge them, nobody to act as a check and balance, nobody to ask the tough questions that really need, for the sake of the nation, to be asked.

Honestly, if we come to that stage, Parliament House might just as well shut down. On weekends, the PAP MPs can just gather at Hsien Loong's living room or Kuan Yew's garden to have some cakes and coffee.


There they can plan their next salary increases; chit chat about golf and BMWs; and casually make a few national policies for five million citizens. So much for public accountability and transparency,

--------------------------------------

Regular readers of my blog know that I moved house a few months ago. What I didn't mention was exactly where I moved to. I now live in Tai Keng Gardens, a small quiet residential area near Paya Lebar, and I recently learned that my new address is under Aljunied GRC.

There isn't the slightest doubt in my mind who I need to vote for. After all, I am intelligent, educated, well-informed and concerned.


So effectively I have no choice. I have to vote for the Workers Party. Because I can see so clearly that the PAP's performance over the past five years (http://mrwangsaysso.blogspot.com/2011/04/please-look-at-fundamentals-before-you.html) is just taking this country on a one-way trip into slow deterioriation and gradual collapse.

Things have already reached such a bad stage that I can sincerely say this: if you genuinely support the PAP and want them to succeed, then you must vote for the Opposition.

For the PAP can improve and do better - it has that potential. What the PAP needs is to be shocked out of its own complacency.

The best thing that can happen for the PAP is that they lose 10 seats in this election. Then suddenly they will wake up, remember the people whom they are supposed to serve, and start getting their act together.

The PAP does have some talented, capable people in their midst. It's just that they have lost their way, over the past five years.

------------------------------------

I see from the newspapers that Kuan Yew has been busily making statements to create fear in the electorate. Something about how the Workers Party (if they win) will bring down the property values of Aljunied GRC.

What's that old saying about old dogs and new tricks? Fear-mongering is one of Kuan Yew's favourite tactics.

Woe betide you, foolish Singaporeans, if you do not listen to me, then the sky will fall on your head. Some of his statements are so far-fetched that it's amazing he still has any credibility left.

Remember this stunning proclamation (http://mrwangsaysso.blogspot.com/2007/04/cnn-on-ministers-salaries.html) from Lee Kuan Yew, in 2007?

The PAP ministers were just about to give themselves another fat pay raise, and Singaporeans were questioning this.


Lee Kuan Yew's reply was that if the PAP ministers did not get their increase, the women of Singapore will become "maids in other people's countries".

Oh, come on, Kuan Yew. Can you at least try to keep your fear-mongering a little more .... rational?

Regular readers of my blog know that I am a keen watcher of the property market. I'd like to share a few personal observations on the content of Kuan Yew's latest fear.

LKY's basic point is that the WP is incompetent; that they will mismanage Aljunied; and the area will be so badly run that property values will fall sharply (relative to PAP constituencies).

But let's look at the facts. Low Thia Kiang has been MP for Hougang, for twenty years.

If Low can ruin property values through his sheer incompetence, then Hougang should be a slum by now.

But it is not. It is a clean, vibrant HDB town, with its own lively suburban malls, hawker centres, supermarkets, bus interchange, sport stadium, two MRT stations and more.

I can honestly tell you that, as a person who is familiar with the area. My brother lives in Hougang, my kids used to go for tuition in Hougang, and I still go there with my family quite often to eat and shop in Hougang.

Most Singaporeans wouldn't realise it, but I'll just say it straight out here. MPs do lots of important things, such as debate, discuss and shape national policies in Parliament and meet residents to help solve their personal problems.


MPs and their grassroots supporters also organise community events like Plant-a-Tree Day and Chinese New Year dinners etc, and make appearances at schools' Prize-Giving Day to hand out awards and make speeches.

All these types of MP work have their value and are important in their own way. But none of them has any direct bearing on the value of your property.

In other words, whoever you elect as your MP has very, very little influence on whether your property value will go up or down. May I quickly give you a big bunch of illustrations? Okay, let's go:

Your MP does not look after the roads in your neighbourhood (the LTA does that).

Your MP does not look after the parks (the National Parks Board does that).

Your MP does not look after your public library (the National Library Board does that).

Your MP does not look after your sports stadium or public swimming pool (the Singapore Sports Council does that).

Your MP does not build shopping malls for you (property developers such as Capitaland do that).

Your MP does not manage your MRT line (SMRT does that).

Your MP does not manage your SBS buses (SBS does that).

Your MP does not look after your electricity supply (SP Power does that).

Your MP does not look after your carpark (the URA does that).

Your MP does not investigate crimes (the Singapore Police Force does that).

Your MP does not put out fires (the SCDF and their NSmen do that).

Your MP does not ensure that top schools are near your home (whether a school is top or not depends on the students' efforts).

Your MP doesn't prevent mosquito breeding (the NEA does that).

Your MP does engage the cleaning contractors to clean the neighbourhood (which, in terms of level of difficulty, is not exactly rocket science and shouldn't be a challenge for any self-respecting MP, whether from the PAP or not).

Apart from the cleaning contractors, your MP also builds playgrounds, fitness corners, maybe a couple of covered link ways here and there.

None of these little projects require great ability or vast competence, nor will they have any significant influence on your property value.

There, hope it's all abundantly clear now. Abundantly clear that Lee Kuan

[ysyap]

Remove all SSD except for 1st year lah!
Protect the banks from people over leveraging, 80% LTV not enough mah? Why need to differentiate 1st property, 2nd property etc? Most other countries even allow 90% LTV without problem.
Why they allow the banks to grant almost 100% loan for cars and didn't say about protecting the banks? (when we all know cars once sold immediately become only worth 90% of its original sold price) :banghead:One property = 15 cars... If say you need 100 000 unserviced mortgage loans issued by a single bank to crash the bank, then you'll need 1 500 000 unserviced car loans to crash the bank! Singapore barely has that number of cars so its technically impossible to crash the bank so no need protection... :D

[teddybear]

Wrong. Property at 80% LTV and property seldom drop more than 20%.
Cars at 100% sure at negative equity of at least 10% or more once the owner take delivery of the car. Furthermore, banks guarantee negative equity all the way if granting even 95% car loan. :banghead:
If your theory is correct, like that why need to bother earn how much than can get credit cards?


One property = 15 cars... If say you need 100 000 unserviced mortgage loans issued by a single bank to crash the bank, then you'll need 1 500 000 unserviced car loans to crash the bank! Singapore barely has that number of cars so its technically impossible to crash the bank so no need protection... :D

[ysyap]

Wrong. Property at 80% LTV and property seldom drop more than 20%.
Cars at 100% sure at negative equity of at least 10% or more once the owner take delivery of the car. Furthermore, banks guarantee negative equity all the way if granting even 95% car loan. :banghead:
If your theory is correct, like that why need to bother earn how much than can get credit cards?Correction.... the mortgage crisis in US occurred on the back of even when the property loan is defaulted, the banks cannot resell those properties coz no buyers. The earlier argument is paralleled to this scenario so even if property seldom drop more than 20%, it is useless if the bank cannot resell those repossessed properties making huge losses. Your argument is on a non crisis scenario but I'm saying if there is a panic crisis like in the US then... :D

[devilplate]

mortgage loans forms the main bulk of our banks porfolio.....car loans r smaller in weightage

yes i agree wif teddy tat MAS or govt shd look into raising LTV on car loans....i suggested b4 too;)

BUT housing loan is far more impt and critical....so further LTV shd be imposed to multiple ppty owners to prevent them from overleveraging

they got too much cash....jus buy without loan la....just like china buyers....

disallowing ppl to sell by imposing 16%,12%,8%,4% is really too lop-sided:doh:

if MBT out....mabe next 6mths to 1yr no more further CM!!! HUAT ARGH!?!?!?!

[ysyap]

Agreed.... huat ah... but to upgraders,,,,, :mad:

[wenqing]

http://forums.hardwarezone.com.sg/showthread.php?t=3223279 (http://forums.hardwarezone.com.sg/showthread.php?t=3223279)

TVB Drama on How Singaporeans Suffer Just to Lease a Flat

http://www.youtube.com/watch?v=R4yrEkz31ps&feature=player_embedded (http://www.youtube.com/watch?v=R4yrEkz31ps&feature=player_embedded)