View Full Version : CPF board...buying within your means..
Now they getting scared people over commit...:doh:
http://www.cpf.gov.sg/imsavvy/ayr_list.asp?catid=2
TheOnlyGayInTheVillage
13-06-12, 20:22
This imsavvy from CPF Board is like a mini CondoSingapore... talk about everything related to money including shoebox... only never talk about Geylang and sex scandals only haha.
bcos cpf no money liao :D
bcos cpf no money liao :D
CPF is wary as
1. Excessive outflow to developers
2. Unhealthy proportion into property in contrast to UT, equities... and other asset class
3. Any correction means little monies back to CPF after foreclosure as CPF being 2nd charge behind bank
Which means next CM will up the minimum cash component!!!!
Regards
phantom_opera
13-06-12, 20:49
CPF is wary as
1. Excessive outflow to developers
2. Unhealthy proportion into property in contrast to UT, equities... and other asset class
3. Any correction means little monies back to CPF after foreclosure as CPF being 2nd charge behind bank
Which means next CM will up the minimum cash component!!!!
Regards
they have themselves to blame, even bank preference shares or some 5-10y corp bonds listed in SGX has much higher return than CPF OA 2.5%
CPF is wary as
1. Excessive outflow to developers
2. Unhealthy proportion into property in contrast to UT, equities... and other asset class
3. Any correction means little monies back to CPF after foreclosure as CPF being 2nd charge behind bank
Which means next CM will up the minimum cash component!!!!
Regards
or cpf give up to 5% returns in order to retain the funds
good game.
burden with debt! :o
Which means next CM will up the minimum cash component!!!!
Regards
minimum sum $200k
85 yrs old can withdraw 10%
this is a ponzi scheme
Too much restrictions on what we can invest with CPF OA. Imagine we are forced to invest with UTs if we want 100% exposure to shares and yet we can't use all CPF OA to invest in shares directly, and yet the 30% we can use can only invest in Singapore stock market, which I perceive to be a MM market, mostly manipulated by big players and local well-connected brokers / remesiers, and SGX can't do and perceived to be unable to do anything about their listed companies (just look at those S-chips, fraud, accounting scandal, money siphoned off, and what happened to the perpetrator? Nothing so far!).
they have themselves to blame, even bank preference shares or some 5-10y corp bonds listed in SGX has much higher return than CPF OA 2.5%
TheOnlyGayInTheVillage
14-06-12, 11:05
Excerpt from article in BT today...
"The impact of a global downturn on the three banks will be through the property market as the economy slows down this year, Mr Chan said.
Fitch is projecting Singapore to grow a slower 2.5 per cent this year, down from 4.9 per cent in 2011.
The banks have large exposure to the real estate segment - at close to 40 per cent of loans - of which two-thirds are mortgages and the rest to property developers and investors. Fitch expects a low-asset- quality threat from mortgages, with job losses likely to rise modestly and interest rates staying low.
Many developers and investors have healthy leverage, with sharp delinquencies likely to surface only in a prolonged property sector trough."
phantom_opera
14-06-12, 11:07
Too much restrictions on what we can invest with CPF OA. Imagine we are forced to invest with UTs if we want 100% exposure to shares and yet we can't use all CPF OA to invest in shares directly, and yet the 30% we can use can only invest in Singapore stock market, which I perceive to be a MM market, mostly manipulated by big players and local well-connected brokers / remesiers, and SGX can't do and perceived to be unable to do anything about their listed companies (just look at those S-chips, fraud, accounting scandal, money siphoned off, and what happened to the perpetrator? Nothing so far!).
Agree, the peg to 10y bond yield + 1% is really a joke ... now is 1.41% + 1 = 2.41% only
And they have to keep delaying the implementation by giving 4% still lol
Many buyers don't use cpf monie to buy properties already... :rolleyes:
The huge proportion of exposure to property and construction sector is not healthy. Esp high when compared to places like HK.
Our gahmen keeps yelping about diversification of our economy.
But million dollar pay packets not getting us any real results.
Whether a correction or bubble burst, banks still get their monies, developers their profits, government their revenue from GLS and duties... common people LOSE their CPF monies....
But credit must be given where it's due. I must applaud the developers for milking heartland speculators to buy their MM to allow project to breakeven while holding on to their bigger units.
I am very surprise so many MM supporters on forums of ST, Today.....
I must be living in a different world where none of my expat friends wanted MM if given a choice....
Regards
Excerpt from article in BT today...
"The impact of a global downturn on the three banks will be through the property market as the economy slows down this year, Mr Chan said.
Fitch is projecting Singapore to grow a slower 2.5 per cent this year, down from 4.9 per cent in 2011.
The banks have large exposure to the real estate segment - at close to 40 per cent of loans - of which two-thirds are mortgages and the rest to property developers and investors. Fitch expects a low-asset- quality threat from mortgages, with job losses likely to rise modestly and interest rates staying low.
Many developers and investors have healthy leverage, with sharp delinquencies likely to surface only in a prolonged property sector trough."
phantom_opera
14-06-12, 12:44
Ikea small space living is theme this year
The huge proportion of exposure to property and construction sector is not healthy. Esp high when compared to places like HK.
Our gahmen keeps yelping about diversification of our economy.
But million dollar pay packets not getting us any real results.
Whether a correction or bubble burst, banks still get their monies, developers their profits, government their revenue from GLS and duties... common people LOSE their CPF monies....
But credit must be given where it's due. I must applaud the developers for milking heartland speculators to buy their MM to allow project to breakeven while holding on to their bigger units.
I am very surprise so many MM supporters on forums of ST, Today.....
I must be living in a different world where none of my expat friends wanted MM if given a choice....
Regards
MM is what many expats n investors can afford only.
TheOnlyGayInTheVillage
14-06-12, 13:39
I am very surprise so many MM supporters on forums of ST, Today.....
I must be living in a different world where none of my expat friends wanted MM if given a choice....
Regards
Trust me. If these people have a choice with their limited budgets, policy allowing, they will go for big units.
phantom_opera
14-06-12, 14:26
Ikea small space living is theme this year
http://www.youtube.com/watch?v=BQjBrt9LriY
:p
http://www.youtube.com/watch?v=BQjBrt9LriY
:p
Nice. I went to Ikea and saw the apartments of various sizes from 22sqm to 55 sqm. They are definitely more than liveable.
I think Ikea is one of the big gainers as MM takes off.
For me, the only slight issue to grapple with in MM living is no place to hang dry the clothes, but this can easily be circumvented.
Some of the other videos are simply awesome and inspiring.
There are people living happily in 78 to 90 sqft microstudios! Can call them toeboxes.
Really hard to imagine... Very rebellious, and very creative. I like it already.
How much will they price such boxes if SG ever allows? What will the quantum be??? 3000psf? Below 300K? Can consider.
The huge proportion of exposure to property and construction sector is not healthy. Esp high when compared to places like HK.
Our gahmen keeps yelping about diversification of our economy.
But million dollar pay packets not getting us any real results.
Whether a correction or bubble burst, banks still get their monies, developers their profits, government their revenue from GLS and duties... common people LOSE their CPF monies....
But credit must be given where it's due. I must applaud the developers for milking heartland speculators to buy their MM to allow project to breakeven while holding on to their bigger units.
I am very surprise so many MM supporters on forums of ST, Today.....
I must be living in a different world where none of my expat friends wanted MM if given a choice....
Regards
frankly no 1 ask the people to buy house anyway? and the cry foul of foreigners coming in to compete for resources pushing up housing price. yet on the flip side people cry foul when property price really drop and looses $ or CPF $. isn't it a irony ?
my take ban or property transaction. nationalized all property assets redistribute it in lucky draws. and give it a zero value. then people will find other things to blame. maybe price of rice next?
http://www.youtube.com/watch?v=BQjBrt9LriY
:p
Maybe for a short stay... like a hotel stay maybe..
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