View Full Version : HDB selling price in 1 Oct 1982
https://fbcdn-sphotos-c-a.akamaihd.net/hphotos-ak-ash3/5906_10200400398185454_1277824810_n.jpg
http://newspapers.nl.sg/Digitised/Page/straitstimes19820924-1.1.11.aspx
1982 inner urban for $122k? where is this inner urban they are referring to? Doesn't sound cheap at all for that generation.
1982 inner urban for $122k? where is this inner urban they are referring to? Doesn't sound cheap at all for that generation.
Ok lah quite affordable. Maybe about $600 per month for 25 years?
Should be places like Tanjong Pagar...
http://newspapers.nl.sg/Digitised/Article/straitstimes19820924-1.2.39.3.aspx
in 1982 median household income is how much? avg employee income how much? and fresh grad or poly how much pm salary?
Then I think usd to sgd is 1.8 or 1.9?
Also in 1982 the quality of the flat and today BTO any diff?
https://fbcdn-sphotos-g-a.akamaihd.net/hphotos-ak-frc1/1210_10200400876357408_1053233686_n.jpg
http://newspapers.nl.sg/Digitised/Page/straitstimes19820923-1.1.8.aspx
Funny why thread starter post this? Last time police wear shorts. Last time bank interest rate also higher once it hit 10% per annum. Last time 1982 no mrt too. Last time maybe no market at your doorstep or amenties.
Funny why thread starter post this? Last time police wear shorts. Last time bank interest rate also higher once it hit 10% per annum. Last time 1982 no mrt too.
last time bus also no aircon. and last time chicken rice $1.2 have aliao. kopi 40c. ;) last time ah many thing also last time cheaper.
acutally If I go ask my grandmother she will tell be last last time in china...... once upon a time ;)
Those who cannot remember the past are condemned to repeat it.
-George Santayana, 1863–1953, American philosopher
Study the past if you would divine the future.
-Confucius, Chinese philosopher, 500's B.C.
The only thing new in this world is the history you don't know.
-Harry S. Truman, American President
http://teachers.sduhsd.net/pgiuliano/Why%20Study%20History.htm
Interesting! Govt estimated a household took up a 20 years loan. Thanks Arcachon!
Interesting! Govt estimated a household took up a 20 years loan. Thanks Arcachon!
SAF retire their NCO at 45yrs old.
this is pretty eye opening and useful info.
https://fbcdn-sphotos-a-a.akamaihd.net/hphotos-ak-ash3/943353_10200401107723192_1556743343_n.jpg
http://newspapers.nl.sg/Digitised/Page/straitstimes19820829-1.1.8.aspx
150k in 3 years, i.e. 50k per year. so we've been there... this history lesson getting more interesting.
Good history, thanks for the posts.
https://fbcdn-sphotos-b-a.akamaihd.net/hphotos-ak-prn1/9351_10200401278607464_301372992_n.jpg
https://fbcdn-sphotos-g-a.akamaihd.net/hphotos-ak-frc1/1210_10200400876357408_1053233686_n.jpg
http://newspapers.nl.sg/Digitised/Page/straitstimes19820923-1.1.8.aspx
The year 1981
Look at the ave salary....
The year 2013
What is the ave salary?
What is the ratio of Property price to salary for 1981?
What is the ratio of property price to salary for 2013?
Compare the both....
Hahahahahaha
Tickle your brain... What is the trend of salary over time????? In this case 32 years.
Time value of money.....
The year 1981
Look at the ave salary....
The year 2013
What is the ave salary?
What is the ratio of Property price to salary for 1981?
What is the ratio of property price to salary for 2013?
Compare the both....
Hahahahahaha
Tickle your brain... What is the trend of salary over time????? In this case 32 years.
Time value of money.....Today, the prices of HDB is not pegged to salary already. However, eligibility to buy HDB is still pegged to salary! So u have it... a $2mil EC price is definitely not pegged to salary of the $12k household income but anyone earning more than $12k cannot buy that EC... :doh:
https://fbcdn-sphotos-h-a.akamaihd.net/hphotos-ak-frc1/375076_10200403858831968_224001238_n.jpg
When you print more money you need to build more unit so that the price will not go too high, problem is you cannot build fast enough.
The price of HDB will always be higher until the amount of unit build reach the equivalent of money printed. Then the price will start to soften and reduce.
Today, the prices of HDB is not pegged to salary already. However, eligibility to buy HDB is still pegged to salary! So u have it... a $2mil EC price is definitely not pegged to salary of the $12k household income but anyone earning more than $12k cannot buy that EC... :doh:
First you cannot earn more than 10k. Earn too much cannot eat cherry.
https://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyingNewFlatEligibilitytobuynewHDBflat?OpenDocument#IncomeCeiling
Then HDB Loan Eligibility.
If you don't earn enough you cannot take a bigger loan than cannot get a bigger HDB, cherry become smaller.
But if your father got money, they let you eat the biggest cherry.
The Moral of the story is, if you are rich they give you more (big cherry). If you are poor they give you less (little cherry).
CM8 parent cannot help their child buy home.
Waiting for my son to reach 21 than get him to marry before CM8.
Funny why thread starter post this? Last time police wear shorts. Last time bank interest rate also higher once it hit 10% per annum. Last time 1982 no mrt too. Last time maybe no market at your doorstep or amenties.
Note that Singapore policemen are wearing now.:)
In 1993 after my 4 room MOP, I look for a bigger cherry. But money not enough, lucky got a father loan 20k to deposit a 5 room.
After buying the 5 room and selling the 4 room and return my father the money, he tell me I am crazy to buy a 5 room when I have only one son. He have 4 son and staying in a 3 room HDB.
18 years later, he is staying in the 5 room because the other 3 son got no room for him.
https://fbcdn-sphotos-c-a.akamaihd.net/hphotos-ak-ash3/5906_10200400398185454_1277824810_n.jpg
http://newspapers.nl.sg/Digitised/Page/straitstimes19820924-1.1.11.aspx
The HDB loan interest rate then was also in 6-8% zone. The interest is a killer for the common folks as well. There is no rental market then to substantiate a higher loan quantum. Have lived through that era as a child and saw the housing financial statement and how parents had to struggle with cash flow. It was the CPF through employment that helped families to own them eventually. The wise choice then is to pay all in full if one has the moolah.
First you cannot earn more than 10k. Earn too much cannot eat cherry.
https://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyingNewFlatEligibilitytobuynewHDBflat?OpenDocument#IncomeCeiling
Then HDB Loan Eligibility.
If you don't earn enough you cannot take a bigger loan than cannot get a bigger HDB, cherry become smaller.
But if your father got money, they let you eat the biggest cherry.
The Moral of the story is, if you are rich they give you more (big cherry). If you are poor they give you less (little cherry).
Father have money help son or daughter is not a crime. All parents wants the best for their kids. So by ur analogy are u saying those who can go overseas n study becoz their parents help them are also disadvantage those who couldn't? So becoz their parent could send their kids overseas they should not be entitled education that's subsidized? Primary , secondary n jc n poly?
All are Singaporean citizen n contributed to the nation building. The young generation are entitled their fair entitlement . Regardless of their parents successes.
The HDB loan interest rate then was also in 6-8% zone. The interest is a killer for the common folks as well. There is no rental market then to substantiate a higher loan quantum. Have lived through that era as a child and saw the housing financial statement and how parents had to struggle with cash flow. It was the CPF through employment that helped families to own them eventually. The wise choice then is to pay all in full if one has the moolah.
Buy private that time interest rate was 10% n cpf was paying 6% too.
The year 1981
Look at the ave salary....
The year 2013
What is the ave salary?
What is the ratio of Property price to salary for 1981?
What is the ratio of property price to salary for 2013?
Compare the both....
Hahahahahaha
Tickle your brain... What is the trend of salary over time????? In this case 32 years.
Time value of money.....
No QE then too.... Now everyday QE every where.
Today, the prices of HDB is not pegged to salary already. However, eligibility to buy HDB is still pegged to salary! So u have it... a $2mil EC price is definitely not pegged to salary of the $12k household income but anyone earning more than $12k cannot buy that EC... :doh:
Got other EC wat. Why must buy that. I like ION too but why cannot buy!
When you print more money you need to build more unit so that the price will not go too high, problem is you cannot build fast enough.
The price of HDB will always be higher until the amount of unit build reach the equivalent of money printed. Then the price will start to soften and reduce.
Huh 1st time I hear this type of comparison .
In 1993 after my 4 room MOP, I look for a bigger cherry. But money not enough, lucky got a father loan 20k to deposit a 5 room.
After buying the 5 room and selling the 4 room and return my father the money, he tell me I am crazy to buy a 5 room when I have only one son. He have 4 son and staying in a 3 room HDB.
18 years later, he is staying in the 5 room because the other 3 son got no room for him.
Bless you for giving your dad a home.
I learn from young not to follow his foot step.
He lost his father at the age of 9 during WW II. Work everyday as a bus driver to bring food for his 4 sons. Don't believe in property investment, leave all his CPF till retirement after paying SGD 6,600 for his 3 room HDB. Now all his CPF empty, 3 room transfer to his youngest son,got two stroke need a maid to do all his business and half his mind gone at the age of 79.
I learn from young not to follow his foot step.
He lost his father at the age of 9 during WW II. Work everyday as a bus driver to bring food for his 4 sons. Don't believe in property investment, leave all his CPF till retirement after paying SGD 6,600 for his 3 room HDB. Now all his CPF empty, 3 room transfer to his youngest son,got two stroke need a maid to do all his business and half his mind gone at the age of 79.
My Bro,
It is not that your father didn't know. Those days it was already a blessing to provide 3 meals for the family. You should be thankful that your father fulfilled his responsibility. I remembered those days only those super rich can afford condos. They were located deep inside central or prime areas. You must possess car in order to live comfortably. It is not like now everywhere, besides HDB also call condos. Things has changed but of course those who are smart be it now or last time they will make it in life not necessary through property. I would said your southbank is very lucky. You bought it right time right place, not really you are more property savvy than many.
You are right, I learn about property investment after 2008, two years after I brought Southbank. First from Skyscraper forum where I was trying to find photo of SB under development. As the price of SB start to increase from SGD 530,000 to 1,000,000, I start to learn what are the cause. Then came the sub-prime in 2009 when SB drop to 750,000 for 2 Bedroom. In 2010 after watching the movie "Money as Debt" my understanding of money did a 180 degree change. In school you are taught to save but in the World of money, saving will only help you if you know how to use it. So in 2011 I get myself into more debt.
Lesson from my father, working everyday and not using your cherry will get you into trouble after your retirement. Internet is a very powerful tool if you use it to learn. Most question you have can be answered from the internet if you care to find out from google. Those who make it like to share, while those who miss the boat like to complain.
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