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Thread: Bank Loans Tightened

  1. #31
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    one of the ways to cool off the HDB resale mkt is to increase the salary celing AND increase the supply at the same time. e.g. if ceiling is increased from current 8k to hypothetical 10k, those whom are currently in this bracket would be able to apply as 1st timer for brand new HDB. With this, this group of buyers would not have to look at the resale HDB mkt (since they could think that they are still not there yet to afford a pvt property). However supply must increase in tandem, else those who are really low income owners would be forced out of competition. (but then, real low income group is already protected somehow if they are looking at smaller flats direct from HDB, since higher income group are not eligible for <3 rooms if i'm not wrong)

    Alternatively, introduce tier-level kind of subsidy for different income groups, e.g. no subsidy for those earning 8-10k bracket, though you can still buy from HDB 1st hand.

    thoughts.

  2. #32
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    Quote Originally Posted by dormer
    I hope the remove of IAS can bring good news to the resales market. I don't understand why a lot of current buyers still go for developer units rather than resales units where they can buy at a lower price.
    Maybe, now the resale market will get more share of the action since the IAS is stopped.

  3. #33
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    Now now... I am sure there are people waiting to snap up bargains as you guys expect the prices to fall.

    But remember those who has missed the boat, not to miss it AGAIN this time. Don't wait too long.

    I'll be looking out...

  4. #34
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    Quote Originally Posted by xebay11
    Flippers would be badly affected if prices come down due to this negative sentiment.
    even if prices dont come off ... they will have hard time finding buyers... cos developers may not offer IAS to subsale buyers ..

    unless these buyers have cash .. chances are prices will dip ..

  5. #35
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    why always talk down HDB flat?

    We own an HDB flat, as most Singaporean do, I don't like it to depreciate!

    I bought my first property in 2000, it's a resale HDB flat, no grant, -- our income exceeds 8000 since the first day we got married. Never mind, price went a bit down for a few years, then slowly appreciate, so far only about 30% up after so many years.
    I find such pace very very reasonable (you can say low!) for a growing market! If property price can't go up, the country will be in big trouble!
    Why now people are complaining? you have to start at a time and build up,--the point is to have it up, why have to suffer existing owners benefit by government putting up all measures to depress those 80% population's properties?

  6. #36
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    Quote Originally Posted by kurby
    I think we overlooked the message that MBT is trying to bring across. What is the objectives that MBT is trying to achieve?

    I believe the government think property prices has run ahead of income/GDP growth and hence may not be sustainable. So to prevent a bubble from forming, they introduce measures to contain the price increase.

    So think about it....what will happen if say prices continue to soar? Will MBT introduce more measures?? Removing the IAS is just a tool to achieve his objective...which is to contain the price, allow gradual increase in price...
    Yes, Yes. removing the IAS is just one tool. Remember he tried to ask buyers to think, think, think? and warn buyer don't overcommit? since it doesn't work, finally, he has to do something.

    If it still doesn't work ........... well, you can be sure more remedy will be in line. anything can happen, the sky the limit ..... what about the government to develop private housing and thus has a direct hand to set the market pricing?

  7. #37
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    Quote Originally Posted by chenjdd
    why always talk down HDB flat?

    We own an HDB flat, as most Singaporean do, I don't like it to depreciate!

    I bought my first property in 2000, it's a resale HDB flat, no grant, -- our income exceeds 8000 since the first day we got married. Never mind, price went a bit down for a few years, then slowly appreciate, so far only about 30% up after so many years.
    I find such pace very very reasonable (you can say low!) for a growing market! If property price can't go up, the country will be in big trouble!
    Why now people are complaining? you have to start at a time and build up,--the point is to have it up, why have to suffer existing owners benefit by government putting up all measures to depress those 80% population's properties?
    becos HDB flat is to provide a roof over our head, not to speculate and earn money, if HDB keep rising like crazy, then new couples will not be able to afford, then HDB has failed in her duty....

  8. #38
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    Quote Originally Posted by august
    I am more interested to see what he is going to do about HDB prices. Afterall HDB is public housing, and thanks to the pap govt has right now become the most expensive public housing in the world. He must do something, or there may be political price to pay.
    What's wrong with that? Because of PAP, 80% of singaporean have an asset that are appreciating all the time.

  9. #39
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    Quote Originally Posted by Allthepies
    becos HDB flat is to provide a roof over our head, not to speculate and earn money, if HDB keep rising like crazy, then new couples will not be able to afford, then HDB has failed in her duty....
    HDB duty is to provide housing for its citizens. It is for those who needs it. There are plenty of choices for everyone. If people cannot afford the flat at Toa Payoh, then there are more at Sembawang, Punggol or Jurong West. But people just like to complain that there's no flat. When the was excess flats during the last recession, people also complain govt build too much. For everyone who wants government to increase the 8000 income limit, there is 5 needy people who hope the limit stays where it is.

  10. #40
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    Quote Originally Posted by Allthepies
    becos HDB flat is to provide a roof over our head, not to speculate and earn money, if HDB keep rising like crazy, then new couples will not be able to afford, then HDB has failed in her duty....
    But we are also a greying nation where most poeple will be retiring in HDB flats. So we will be facing an even greater danger if HDB depreciates.

  11. #41
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    Quote Originally Posted by Allthepies
    becos HDB flat is to provide a roof over our head, not to speculate and earn money, if HDB keep rising like crazy, then new couples will not be able to afford, then HDB has failed in her duty....
    my point is 3% p.a. resale vs resale gain is very reasonable as public sector houses. Those people who complain are self considered, once they buy then they will expect price to go up or not?!
    even in current market i am sure every ordinary ones in Singapore can find affordable roof to buy, but you can't say you want all good factors but don't want to pay for them
    for those bought directly from government or received grants, they make more profits but that's what government intends to do, right?

  12. #42
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    is this really happen.. 1st thing i do is SHORT BIG BIG on property counters...

    Quote Originally Posted by esurprise
    what about the government to develop private housing and thus has a direct hand to set the market pricing?

  13. #43
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    Quote Originally Posted by hkching
    HDB duty is to provide housing for its citizens. It is for those who needs it. There are plenty of choices for everyone. If people cannot afford the flat at Toa Payoh, then there are more at Sembawang, Punggol or Jurong West. But people just like to complain that there's no flat. When the was excess flats during the last recession, people also complain govt build too much. For everyone who wants government to increase the 8000 income limit, there is 5 needy people who hope the limit stays where it is.
    I cannot agree more...i bought a hdb in 2000 too...and guess what...I am gonna fully pay it off in 2010....affordable? Hell yes...much more affordable than the 1000psf that will take me a good 30 years to finish paying off...

    And here we have people in a condo forum complaining hdb is expensive hahahaha....

  14. #44
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    Quote Originally Posted by hkching
    What's wrong with that? Because of PAP, 80% of singaporean have an asset that are appreciating all the time.

    if HDB prices keeps going up, then naturally pte condo will also keep going up
    if HDB prices comes down, pte condo prices will also moderate and become more affordable mah ..

  15. #45
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    I tend to think otherwise....

    Private property prices moved first before hdb prices move....it is because private property prices are so high that people start to look to resale hdb for upgrades...

  16. #46
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    Quote Originally Posted by kurby
    I tend to think otherwise....

    Private property prices moved first before hdb prices move....it is because private property prices are so high that people start to look to resale hdb for upgrades...
    actually this time round, it is because HDB prices are so high that ppl notice "hey pay a bit more get condo liao!" and hence why they say this little rally is due to mass mkt upgraders ~

  17. #47
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    Quote Originally Posted by kurby
    I cannot agree more...i bought a hdb in 2000 too...and guess what...I am gonna fully pay it off in 2010....affordable? Hell yes...much more affordable than the 1000psf that will take me a good 30 years to finish paying off...

    And here we have people in a condo forum complaining hdb is expensive hahahaha....
    Where got people in condo forum complaining hdb is expensive?

    It is only those people in the Straits Times forum who complained that hdb is expensive, and our webmaster cut and paste their articles over here.

  18. #48
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    ye ye ye !!! price will crash! can buy 2 more units then... thks Mr Mah

  19. #49
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    Those of you waiting for prices to crash...can wait long long or pray hard hard.


    MBT already said that the aim of the announced measures are to stabilise the market and ensure sustainability of the property market inline with economic fundamentals. This means no repeat of steep price increases and mad rush to buy we had seen over past 2-3 months but to achieve a more measured crawl up the scale. Overall a win-win for everyone, from first-timers to investors to voters.

    Knee jerk reaction to this will be a cooling off period where we will see all players and buyers pause, cool down, think clearly... wait for the next move.

  20. #50
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    Quote Originally Posted by chenjdd
    why always talk down HDB flat?

    We own an HDB flat, as most Singaporean do, I don't like it to depreciate!

    I bought my first property in 2000, it's a resale HDB flat, no grant, -- our income exceeds 8000 since the first day we got married. Never mind, price went a bit down for a few years, then slowly appreciate, so far only about 30% up after so many years.
    I find such pace very very reasonable (you can say low!) for a growing market! If property price can't go up, the country will be in big trouble!
    Why now people are complaining? you have to start at a time and build up,--the point is to have it up, why have to suffer existing owners benefit by government putting up all measures to depress those 80% population's properties?
    Yah, I hope people like you will start a rival petition to Mah Bow Tan not to interfere with the open market transactions of HDB flats. Some first time buyers are unhappy that they are not able to buy the apartments they want, at the location they want, for the price they want and at the bank loan level they want. So they are writing a petition hoping to get 1,000 signatures to tell MBT, "I wan, I wan, I wan..."

    Meanwhile the silent majority - HDB owners who have enjoyed or are enjoying gains from seeing their investments go up - are contentedly sitting on the sidelines. As a result, we hear only voices from one side querulously asking why is Singapore property market is in such a big mess. Maybe if some of them live in US, UK or Spain they might know what is pain, when homeowners lose their pants from plunging property prices.

  21. #51
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    Quote Originally Posted by bargain hunter
    let's see how many options expire in the months ahead...
    Who make the money if the options expire?

  22. #52
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    Quote Originally Posted by lancelot
    Yah, I hope people like you will start a rival petition to Mah Bow Tan not to interfere with the open market transactions of HDB flats. Some first time buyers are unhappy that they are not able to buy the apartments they want, at the location they want, for the price they want and at the bank loan level they want. So they are writing a petition hoping to get 1,000 signatures to tell MBT, "I wan, I wan, I wan..."

    Meanwhile the silent majority - HDB owners who have enjoyed or are enjoying gains from seeing their investments go up - are contentedly sitting on the sidelines. As a result, we hear only voices from one side querulously asking why is Singapore property market is in such a big mess. Maybe if some of them live in US, UK or Spain they might know what is pain, when homeowners lose their pants from plunging property prices.
    I help to draft a rival petition to Mr. Mah Bow Tan.

    Dear Minister Mah,

    You should know which side your bread is buttered and who put you in power, it is we the 80% of Singaporeans who own HDB flats!!!

    Just because we have been the silent majority doesn't mean you can take us for granted and listen to those who make lots of noise.

    We want HDB flat prices to be HIGH-HIGH-HIGH!!!

    We want Cash Over Valuation (COV) to be HIGH-HIGH-HIGH!!!

    So that we feel RICH-RICH-RICH!!!

    Yours truly,

    Your Heartland Voters
    Last edited by jlrx; 15-09-09 at 22:08.

  23. #53
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    Quote Originally Posted by ipspassion
    Who make the money if the options expire?
    The developers. And they get to resell the unit again.

  24. #54
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    Quote Originally Posted by lancelot
    Yah, I hope people like you will start a rival petition to Mah Bow Tan not to interfere with the open market transactions of HDB flats. Some first time buyers are unhappy that they are not able to buy the apartments they want, at the location they want, for the price they want and at the bank loan level they want. So they are writing a petition hoping to get 1,000 signatures to tell MBT, "I wan, I wan, I wan..."

    Meanwhile the silent majority - HDB owners who have enjoyed or are enjoying gains from seeing their investments go up - are contentedly sitting on the sidelines. As a result, we hear only voices from one side querulously asking why is Singapore property market is in such a big mess. Maybe if some of them live in US, UK or Spain they might know what is pain, when homeowners lose their pants from plunging property prices.
    I don't own HDB. But I feel for the current owners which are the silent majority like you said. If prices of HDB don't rise, how can they upgrade?

    You can't have your cake and eat it. If the more central flats are unaffordable, there are plenty at the fringes of the island that are, just whether you take the bite. Just leave the market alone. No buyer where got seller?

  25. #55
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    Quote Originally Posted by echotrain
    I don't own HDB. But I feel for the current owners which are the silent majority like you said. If prices of HDB don't rise, how can they upgrade?

    You can't have your cake and eat it. If the more central flats are unaffordable, there are plenty at the fringes of the island that are, just whether you take the bite. Just leave the market alone. No buyer where got seller?
    Actually, it's all about timing lah ... which generation u belong to ... juz like some of us may complain abt not having arrived into this world a decade or two earlier, so now the younger generations may feel the same way lor ..

  26. #56
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    The younger generations cannot afford central area properties, particularly private properties so they complain? Wait long long lah. It is every country's govt desire to aim for 3% steady inflation rate because this will make the people feel good, particularly those older age people and own assets like properties which they can then trade-down to cash out and have money to retire (don't forget, they are making up of bigger and bigger percentage of the population and their votes are heavier than the younger generation). If the youngs cannot afford property in central area, those young generations can go buy in Jurong West, Punggol or Sengkang or Woodlands HDB flats, still cheap. If they still not happy and they are so capable, migrate lor (still got many foreigners want to come in here). No point keep complaining as their votes are getting forming smaller and smaller percentage.

    Quote Originally Posted by echotrain
    I don't own HDB. But I feel for the current owners which are the silent majority like you said. If prices of HDB don't rise, how can they upgrade?

    You can't have your cake and eat it. If the more central flats are unaffordable, there are plenty at the fringes of the island that are, just whether you take the bite. Just leave the market alone. No buyer where got seller?

  27. #57
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    yah mann ... betta buy when it's still cheap mann .. else, wait some more really no more (cheap) ... cheong ahh!!

    Quote Originally Posted by teddybear
    If the youngs cannot afford property in central area, those young generations can go buy in Jurong West, Punggol or Sengkang or Woodlands HDB flats, still cheap. If they still not happy and they are so capable, migrate lor (still got many foreigners want to come in here). No point keep complaining as their votes are getting forming smaller and smaller percentage.

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