View Full Version : We're not in happy part of housing cycle, Tharman admits
http://www.straitstimes.com/PrimeNews/Story/STIStory_785419.html
We're not in happy part of housing cycle, Tharman admits
Published on Apr 5, 2012
By Phua Mei Pin
PROPERTY prices have risen faster than incomes in recent years because demand shot up even as housing supply lagged behind.
'We're not in a very happy part of the cycle,' said Deputy Prime Minister Tharman Shanmugaratnam last night at the Kent Ridge Ministerial Forum.
Engineering doctoral student Yvonne Ho, 33, had asked him about the impact of high property prices on middle- and low-income Singaporeans.
Mr Tharman assured her that, despite earlier being 'behind the curve in the supply of housing', the Government was now taking active measures to cool the property market through a significant increase of units in the public Build-To-Order and private markets.
However, this will take time, as property prices move in cycles and no country can control its property market entirely to achieve steady growth. Singapore's approach is to 'keep leaning against the wind' each time the property market heats up.
At the same time, Mr Tharman, who is also Finance and Manpower Minister, maintained that the Government's broader housing policy was right as it encouraged people to own their homes, stay in their jobs and gain from asset enhancement.
The Government currently gives grants to help low-income families buy Housing Board flats.
Mr Tharman explained that, to avoid wealth disparity, the lower-income group should be helped to own property assets, rather than pay rent all their lives on other people's property.
This way, Singapore will avoid the problem elsewhere where 'the bottom 30 per cent are basically not sharing in any form of asset appreciation', which is enjoyed only by the higher-income group.
Going beyond the numbers, Mr Tharman painted the housing strategy as part of a larger social culture.
'Our strategy is not about homes per se. Our strategy is about homes, jobs and skills.'
He noted that home owners held very different attitudes towards their jobs from renters. 'They take a long-term view. They try every way of staying at a job.'
And such an attitude, he added, would usually be passed on to subsequent generations.
As for the timing of the Government's housing and other measures, Mr Tharman dismissed what he called the 'urban myth' that these had been prompted by last year's General Election (GE).
While he admitted that some housing measures had been stepped up after sentiments expressed during the GE, he rejected a suggestion from another participant that the themes of inclusiveness in this year's Budget were a response to the election.
He cited programmes on which the Government had been working intensively for several years before: Workfare income supplements for low-wage workers, training schemes for older workers, more Medifund for the needy, and various financial lifelines under the ComCare.
'Not everything starts and ends with the GE2011. And, quite frankly, this has been an oversold story,' he said.
On entering the housing market, MrTharman concluded with a piece of advice to Ms Ho: 'Wait a little bit.'
Not in a happy part of the cycle? Happy on whose terms? Seriously. In property there will always be conflict of interest between owners and buyers. Owners want asset price appreciation. Buyers want low low price, lower the better. So unless Happy referring to the middle men and govt agencies, I am not too sure Happy for who... If current situation is considered unHappy, then I conclude that Happy to the minister or govt would be a market where mass market home prices only increase 6% yoy in line with NWC recommendation of wage increment.
ikan bilis
13-04-12, 11:03
umm... i go around places... kopitiam, polyclinic...
can usually hear some aunties talking about their hdb rooms renting out for income, their son/daughter's whole hdb flat renting out for extra few $k....
they do not looked like "no happy"... :rolleyes: ;)
everyone is happy.. :D:D:D
it is pple like me with no property to rent out or want to get marry/settle down.. got a problem.. :D:scared-3::scared-3:
buttercarp
13-04-12, 11:26
everyone is happy.. :D:D:D
it is pple like me with no property to rent out or want to get marry/settle down.. got a problem.. :D:scared-3::scared-3:
Agree with you.
The so not happy people wrt property are the newly weds.
The rest with property should have little reason to be unhappy.
Astronotus oscellatus
13-04-12, 11:28
Agree with you.
The so not happy people wrt property are the newly weds.
The rest with property should have little reason to be unhappy.
One property, no reason to cheer.
Many properties, then is a happy occasion.
buttercarp
13-04-12, 11:33
One property, no reason to cheer.
Many properties, then is a happy occasion.
Have roof over head is a reason to be happy.
Unhappiness may be a result of coveting for more than 1 property.
Agree with you.
The so not happy people wrt property are the newly weds.
The rest with property should have little reason to be unhappy.Along with those non newly weds but have been saving and saving for 5 or 10 years and finally enough to pay for downpayment, only to realize that prices have climbed from 5 yrs back... :scared-4:
buttercarp
13-04-12, 11:42
Along with those non newly weds but have been saving and saving for 5 or 10 years and finally enough to pay for downpayment, only to realize that prices have climbed from 5 yrs back... :scared-4:
Lately I have been telling my children it is fine with me if they want to remain single.:p
Have roof over head is a reason to be happy.
Unhappiness may be a result of coveting for more than 1 property.Some may well argue that they are investing their cash. Instead of putting in banks, they put in properties... is that coveting? So if buy property for investment is coveting, then putting money in bank is not considered coveting? :cheers1:
Lately I have been telling my children it is fine with me if they want to remain single.:pI'd rather not tell them about such matters... otherwise its like putting pressure although your intention is try not to put any pressure by saying that... its all unspoken... :rolleyes:
everyone is happy.. :D:D:D
it is pple like me with no property to rent out or want to get marry/settle down.. got a problem.. :D:scared-3::scared-3:
No... Find a nice house, rent it from owner while saving up for your own, like that easy to find nice wife to take care of you and house... Then everyone happy....
One property, no reason to cheer.
Many properties, then is a happy occasion.
Happy until govt jio lim kopi when you try to sell all for good profit... They ask you, eh share share leh the chicken pie....
Lately I have been telling my children it is fine with me if they want to remain single.:p
is it okay for you if they become single parent instead?
if single parent not okay for you, then singaporean birth rate down, need to import for immigrants. also who will look after them in their old age?
Along with those non newly weds but have been saving and saving for 5 or 10 years and finally enough to pay for downpayment, only to realize that prices have climbed from 5 yrs back... :scared-4:
If need to save for so long they are either not disciplined enough or biting off more than can chew at one go....
is it okay for you if they become single parent instead?
if single parent not okay for you, then singaporean birth rate down, need to import for immigrants. also who will look after them in their old age?
It is common speak to commit suicide once reach 70 or when cant take care of oneself any longer, whichever comes first. No wonder govt opening up so many new longkang and reservoir. For once they planned well and right in advance. This is way economical than topping up their cpf....
Lately I have been telling my children it is fine with me if they want to remain single.:p
How old are they. They may be sensitive age. And conclude that you think so lowly of their calibre until 嫁不出去....
If need to save for so long they are either not disciplined enough or biting off more than can chew at one go....Agreed... some simply no choice coz earning v little so save hard hard lor... they may not want to stay with parents forever whether single or married... :rolleyes:. My colleague told me his in laws have 9 adults staying in a 4 room HDB flat... one old mother, one adult son unemployed coz of illness or injury, then several still schooling, etc, so the one who is working will want to move out lor... not too sure but there are always such families around lah...
ikan bilis
13-04-12, 12:24
everyone is happy.. :D:D:D
it is pple like me with no property to rent out or want to get marry/settle down.. got a problem.. :D:scared-3::scared-3:
after you married hor, plan to utilize both your "first Timer" and "second timer" on ECs. Buy new EC twice,... then you will be 2 times more shiok and happy than other people !!... :rolleyes: ;)
after you married hor, plan to utilize both your "first Timer" and "second timer" on ECs. Buy new EC twice,... then you will be 2 times more shiok and happy than other people !!... :rolleyes: ;)
After profitting from 2 ec can fully pay up one MM liao
after you married hor, plan to utilize both your "first Timer" and "second timer" on ECs. Buy new EC twice,... then you will be 2 times more shiok and happy than other people !!... :rolleyes: ;)
you mean i skip BTO
go directly and hoot EC?
and probably 2nd property as EC?:o
after you married hor, plan to utilize both your "first Timer" and "second timer" on ECs. Buy new EC twice,... then you will be 2 times more shiok and happy than other people !!... :rolleyes: ;)
Haha by the time u run through this cycle, how many more years of life are u left with to invest in private property???
say u get married in ur late 20s, 3 years to build + 5 years MOP for EC ur in ur near 40. another 2nd EC clearing the MOP u'll be nearly 50! :scared-1: by the time u buy ur first 2nd private property, ur going to retire.
ikan bilis
13-04-12, 13:18
you mean i skip BTO
go directly and hoot EC?
and probably 2nd property as EC?:o
up to you, but if you can afford EC, then why not skip bto??...
- BTO usually not near to MRT
- EC got subsidy also... and think like no sales levy...
- BTO 2.6% interest rate does not provide much advatange for next few years
- construction time about the same...
- Unlike old time, now EC also comes with smaller 2bdr units... 600-650K.. (haha... may be couple save 30K cash, 30K cpf, + 40K subsidy, + 40K from parents if they want to have some cute grandson earlier... enough liow)
- first timers can pick the nicer units of EC, and leave unwanted units to 2nd timers...
:rolleyes: ;)
umm.. BTO like not much advantage for those who can afford EC...
what would be your reasons to get BTO, say if can afford EC ??..
up to you, but if you can afford EC, then why not skip bto??...
- BTO usually not near to MRT
- EC got subsidy also... and think like no sales levy...
- BTO 2.6% interest rate does not provide much advatange for next few years
- construction time about the same...
- Unlike old time, now EC also comes with smaller 2bdr units... 600-650K.. (haha... may be couple save 30K cash, 30K cpf, + 40K subsidy, + 40K from parents if they want to have some cute grandson earlier... enough liow)
- first timers can pick the nicer units of EC, and leave unwanted units to 2nd timers...
:rolleyes: ;)
umm.. BTO like not much advantage for those who can afford EC...
what would be your reasons to get BTO, say if can afford EC ??..
40k subsidy??
ikan bilis
13-04-12, 13:29
Haha by the time u run through this cycle, how many more years of life are u left with to invest in private property???
say u get married in ur late 20s, 3 years to build + 5 years MOP for EC ur in ur near 40. another 2nd EC clearing the MOP u'll be nearly 50! :scared-1: by the time u buy ur first 2nd private property, ur going to retire.
if got chance better make full use of it... at least once... else lugi...
for me, not utilised leh... :scared-3: :scared-3:
and i'm reserving my "first timer" until i'm very old and retired... then sell all properties.... hoot big big a dual key ec... die die must utilise the 40K subsidy and ~100-200K price advantage of ec before moving to the other world...:banghead:
ikan bilis
13-04-12, 13:33
40k subsidy??
should be around 30K... think 40K only for hdb and near parents...
buttercarp
13-04-12, 14:02
How old are they. They may be sensitive age. And conclude that you think so lowly of their calibre until 嫁不出去....
They are in secondary school only lah.
I told my kids to consider marriage in future only if
they have good income and/ or their future spouse is rich.
They are in secondary school only lah.
I told my kids to consider marriage in future only if
they have good income and/ or their future spouse is rich.
I like you... Equally evil as me
They are in secondary school only lah.
I told my kids to consider marriage in future only if
they have good income and/ or their future spouse is rich.
quite true..
can't imagine the property price in future..:scared-5::scared-5:
ikan bilis, which dualkey EC do you have in mind?
quite true..
can't imagine the property price in future..:scared-5::scared-5:
ikan bilis, which dualkey EC do you have in mind?
Maybe future like B say. Crash! Bring cheque book can one time buy half dozen?
They are in secondary school only lah.
I told my kids to consider marriage in future only if
they have good income and/ or their future spouse is rich.
well, if that's the case, having daughters are better.
I have seen cases whereby rich boy married girls from much poorer backgrounds.
But I never seen rich girls marrying much poorer boys.
Interesting observation ...
I only notice women can marry darker men, but not the other way around, unless it involves a ang mo.
well, if that's the case, having daughters are better.
I have seen cases whereby rich boy married girls from much poorer backgrounds.
But I never seen rich girls marrying much poorer boys.
ikan bilis
13-04-12, 17:34
quite true..
can't imagine the property price in future..:scared-5::scared-5:
ikan bilis, which dualkey EC do you have in mind?
not eyeing any EC now lah... still got long way to go...
anyway, i would like to have something like esparina 1163sqft dual-key...
- yard and washing machine at foyer
- both side got kitchens
- if got enclosed kitchen even better...
- near MRT...
;)
that is a good floorplan! :D
that is a good floorplan! :D
The balcony must be partitioned.
not eyeing any EC now lah... still got long way to go...
anyway, i would like to have something like esparina 1163sqft dual-key...
- yard and washing machine at foyer
- both side got kitchens
- if got enclosed kitchen even better...
- near MRT...
;)
If the studio side intend to rent out I rather not share my balcony
ikan bilis
13-04-12, 18:41
heya... studio not for renting out... for me to sleep inside...
now i sleep in one bdrm, computer occupy another rm, threadmill+2nd TV in another bdrm...
i can put all my bed, computer, threadmill, 2nd TV inside that studio and sleep there, no need to "switching" rooms... haiz...
that studio's bdrm + living rm is like 250-300sqft... shiok!..
:beats-me-man:
~~~~~~~~~~~~~~~~~~~~~~
and in case if you really need to rent out studio,... then don't allow tenant to have access to balcony lor... then you can peep at her, and she cannot peep at you lor... :ashamed1: :D
heya... studio not for renting out... for me to sleep inside...
now i sleep in one bdrm, computer occupy another rm, threadmill+2nd TV in another bdrm...
i can put all my bed, computer, threadmill, 2nd TV inside that studio and sleep there, no need to "switching" rooms... haiz...
that studio's bdrm + living rm is like 250-300sqft... shiok!..
:beats-me-man:
~~~~~~~~~~~~~~~~~~~~~~
and in case if you really need to rent out studio,... then don't allow tenant to have access to balcony lor... then you can peep at her, and she cannot peep at you lor... :ashamed1: :D
I dunno if you are suaning yourself or... So what you gonna do with the larger adjoining unit?
ikan bilis
13-04-12, 19:36
2bdr section for my sis lah... may be 1 day i got kids also can throw the kids in the 2bdr...
last time when in hdb, i could easily put tv, computer, work desk, my bed in a common bdrm... hdb layout is so much better...
2bdr section for my sis lah... may be 1 day i got kids also can throw the kids in the 2bdr...
last time when in hdb, i could easily put tv, computer, work desk, my bed in a common bdrm... hdb layout is so much better...
I see. Still dont understand why you needed to place all stuff in different rooms in the first place...
ikan bilis
13-04-12, 21:17
haha... why i got my things all over the place....
- partly due to never done up the unit properly before shift in, and partly due to problem of this resale compact 4 bdr, bdrm are too small...
- got 1 bdrm facing east, i do not want to kena waked up by morning sun. And this is the only room i could diy running video cable to, so using it for tv, threadmill and ironing.
- another bdrm got bigger built-in table enough for 2x desktop pc and printer, but 10yr old aircon sometimes too noisy and so got to sleep in next room.
anyway, at best i could squeeze all my things into 2bdrm, the studio in the esparina dual key 3bdr is so much better, can take everything, sofa, tv, bed, computer, threadmill. Somemore can go buy a trek bike and keep in foyer....
:rolleyes: ;)
Maybe future like B say. Crash! Bring cheque book can one time buy half dozen?
No disrespect but People who are buying EC and still hoping for crash to happen should really consider staying put in HDB. :doh: :doh: :doh:
I've yet to achieve my 5 Hs, sure not happy:( :(
haha... why i got my things all over the place....
- partly due to never done up the unit properly before shift in, and partly due to problem of this resale compact 4 bdr, bdrm are too small...
- got 1 bdrm facing east, i do not want to kena waked up by morning sun. And this is the only room i could diy running video cable to, so using it for tv, threadmill and ironing.
- another bdrm got bigger built-in table enough for 2x desktop pc and printer, but 10yr old aircon sometimes too noisy and so got to sleep in next room.
anyway, at best i could squeeze all my things into 2bdrm, the studio in the esparina dual key 3bdr is so much better, can take everything, sofa, tv, bed, computer, threadmill. Somemore can go buy a trek bike and keep in foyer....
:rolleyes: ;)
You are a bit strange... No offence. If you get the dual key you have big gym downstairs that you pay for monthly... Why need your treadmill plus you wanna add bike sommore... My apologies if you have difficulty or inconvenience moving about.
Rosegarden
13-04-12, 23:26
Treadmill? Pity your neighbors below lor.
:scared-4:
ikan bilis
13-04-12, 23:44
Treadmill? Pity your neighbors below lor.
:scared-4:
heehee... i put few layers of those baby floor sponge... so far so good... ;)
ikan bilis
13-04-12, 23:49
You are a bit strange... No offence. If you get the dual key you have big gym downstairs that you pay for monthly... Why need your treadmill plus you wanna add bike sommore... My apologies if you have difficulty or inconvenience moving about.
alamak... you like small kids suka suka anyhow shoot questions 1...
gym downstairs need proper attire+footwear, at home can suka suka anytime treadmill for 10-15min... trek bike is for cycling to reservoir...
anyway, treadmill is from old hdb...
;)
alamak... you like small kids suka suka anyhow shoot questions 1...
gym downstairs need proper attire+footwear, at home can suka suka anytime treadmill for 10-15min... trek bike is for cycling to reservoir...
anyway, treadmill is from old hdb...
;)
Ok la thank you for suka suka answering my suka suka questions ok.... ;-)
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