HDB: recap of the measures to help Singaporeans own their first home

[princess_morbucks]

https://o.twimg.com/2/proxy.jpg?t=HBgtaHR0cDovL3N0YXRpYy5vdy5seS9waG90b3Mvb3JpZ2luYWwvM0RDNFQuanBnFKocFNYnABYAEgA&s=R5O2bI7jbI2naTtujH-sV4SAUHGO6hRPqu2ZXUZYa_o

[Arcachon]

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[princess_morbucks]

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Thanks for posting the pic.

I used to be able to copy and paste directly but dont know why today it is impossible to do so.

[mcmlxxvi]

How is the fourth measure ie reduction of loan tenure a measure to help Singaporeans own their first home??

[princess_morbucks]

How is the fourth measure ie reduction of loan tenure a measure to help Singaporeans own their first home??

Lol....it is to encourage prudent spending, so in a way, it helps when considering owning the type of HDB flat.

[eng81157]

it's all propaganda lah. HDB can do it just by selling the units at cost to singaporeans and forgo valuing the land at market value.

[hopeful]

How is the fourth measure ie reduction of loan tenure a measure to help Singaporeans own their first home??

low mortgage rates, longer tenure up property price
high mortgage rates, shorter tenure down property price.

if buyer cannot afford, means cannot afford, seller have to bring down price.
there is no law preventing seller from selling low.
but there are laws preventing buyer from buying high ie mortgage rates, tenure, MSR,TDSR, LTV, ABSD.

[ichigo55]

there are also no laws preventing selling at higher psf with smaller units


low mortgage rates, longer tenure up property price
high mortgage rates, shorter tenure down property price.

if buyer cannot afford, means cannot afford, seller have to bring down price.
there is no law preventing seller from selling low.
but there are laws preventing buyer from buying high ie mortgage rates, tenure, MSR,TDSR, LTV, ABSD.

[mermaid]

How is the fourth measure ie reduction of loan tenure a measure to help Singaporeans own their first home??

beneficial to those cpf/cash rich 1st timer who dun qualify for BTO.

potential hdb resale buyers who r under a budget cannot afford larger hdb, hence hdb $ for bigger units drop.
the gap betw smaller hdb n bigger ones will narrow.

beneficial to those 1st timer who wanna own pte.

potential hdb upgraders finds it harder to afford mass condo. developers will hv to be more prudent in land bids to ensure affordability without sacrificing their bottomline. nearby resale pc oso hv to revise their expectation downwards.

in a nutshell, benefits those who r waiting at thw sidelines to enter the mkt, be it 1st, 2nd or subsequent timer~

[princess_morbucks]

low mortgage rates, longer tenure up property price
high mortgage rates, shorter tenure down property price.

if buyer cannot afford, means cannot afford, seller have to bring down price.
there is no law preventing seller from selling low.
but there are laws preventing buyer from buying high ie mortgage rates, tenure, MSR,TDSR, LTV, ABSD.

Yes hopeful....logical explanation!:)

[radha08]

hdb prices will drOP in time to come...:2cents:

[Arcachon]

My first HDB, 4 room A model 105 sqm.

Don't need to have 20% down payment, don't need to know whether I can pay mortgage. Got it in 1988 for SGD 83,000.

My Second HDB, 5 room I 126 sqm.

Don't need to know whether I can pay mortgage. Got it in 1993 for SGD 225600 + 10%= SGD 250,000.

Got one resale for my in law in 1995, also Don't need to know whether can pay mortgage, no income check, loan 25 yrs for SGD 65,000 after SGD30,000 discount for staying near my 5 room, 3 room HDB in Macpershon Estate.

also got no bubble.