Housing Prices Increase, WHY?

[FilthyRich]

Simple demand and supply tells us that prices increase due to increasing demand.

However the irony with this is that Singapore has the highest home ownership in the world with up to 90%. If every one owns a house, why would there be such drastic increase in housing prices over the years?
42% for Private houses for the past 5 years
84% for HDB in the past 5 years

The only reason i can think of is due to
1. Increasing number of foreign talent?
Not really as they are not entitled to public housing.
2.Greed?
Not really as one is only entitled to 1 HDB per couple.

These factors generally contribute to the rise in prices for Private housing, but on the contrary, it is the public housing which are facing the most drastic changes in price.

[ikan bilis]

heyz... bcoz all kena squeezed jialat jialat by govt lah...

affordable is not "relatively easy/senang to own/buy" hor...
to the govt's dictionary, affordable is "the maximum amount of force that could be used to squeeze every single drop of juice out from you"...

[gn108]

I likes...

heyz... bcoz all kena squeezed jialat jialat by govt lah...

affordable is not "relatively easy/senang to own/buy" hor...
to the govt's dictionary, affordable is "the maximum amount of force that could be used to squeeze every single drop of juice out from you"...

[azeoprop]

the govt's dictionary, affordable is "the maximum amount of force that could be used to squeeze every single drop of juice out from you"...

...so that once u bought, u will be a slave to your loans and no choice have to work till 80++ till you die. Retirement is not an option. The is no escape.

[gn108]

FDI and the MNCs demand it...else there will be 'leakage' of those who might say "I have fully paid up PC, cash, etc etc - so why must I work so hard?".

So to keep everyone working harder, faster and cheaper ...you make them all in debt thro' higher housing debt. But the ones left behind are really behind ...relying on hand-outs. Polarised...now say must start to narrow the gap...

...so that once u bought, u will be a slave to your loans and no choice have to work till 80++ till you die. Retirement is not an option. The is no escape.

[howgozit]

Don't blame gahmen lah.... basic housing is not unachievable.

Nobody forced anybody to buy another property at $1600psf 99LH in the midst of a HDB estate and be indebted for life... especially when they cannot afford it.

heyz... bcoz all kena squeezed jialat jialat by govt lah...

affordable is not "relatively easy/senang to own/buy" hor...
to the govt's dictionary, affordable is "the maximum amount of force that could be used to squeeze every single drop of juice out from you"...

[minority]

Don't blame gahmen lah.... basic housing is not unachievable.

Nobody forced anybody to buy another property at $1600psf 99LH in the midst of a HDB estate and be indebted for life... especially when they cannot afford it.

Yeah I find that there is too much bickering on garmen this garmen tat. Its the PC dream each people have getting out of reach make people not happy. but at least there are alternative housing. Not like end up sleeping in streets leh.

PC to ex don't buy lor. live within ones means.

[minority]

Simple demand and supply tells us that prices increase due to increasing demand.

However the irony with this is that Singapore has the highest home ownership in the world with up to 90%. If every one owns a house, why would there be such drastic increase in housing prices over the years?
42% for Private houses for the past 5 years
84% for HDB in the past 5 years

The only reason i can think of is due to
1. Increasing number of foreign talent?
Not really as they are not entitled to public housing.
2.Greed?
Not really as one is only entitled to 1 HDB per couple.

These factors generally contribute to the rise in prices for Private housing, but on the contrary, it is the public housing which are facing the most drastic changes in price.

I saw its GREED. Got developer sell got people buy. Willing buyer willing seller. Don't complain. if price not right. don't buy. why kill ones self over a PC? No buyers Developer will adjust it.

There is more to life then a PC.

[gn108]

Gahmen is good ..maybe too good.

But remember, it's all linked...schooling, tuition, 30+yr debt, low fertility rates etc.
So what if we can 'afford' - can our children gurantee can on their own power?

Yeah I find that there is too much bickering on garmen this garmen tat. Its the PC dream each people have getting out of reach make people not happy. but at least there are alternative housing. Not like end up sleeping in streets leh.

PC to ex don't buy lor. live within ones means.

[ysyap]

heyz... bcoz all kena squeezed jialat jialat by govt lah...

affordable is not "relatively easy/senang to own/buy" hor...
to the govt's dictionary, affordable is "the maximum amount of force that could be used to squeeze every single drop of juice out from you"...

There is an apparent disparity even between HDB 2 room vs EA. All the examples used by MIW to counter the argument that HDB is not affordable were 2 room flats. So a family of say 6 (including old parents) will also make do with 2 room flats coz its affordable but never practical? Try saying the 5 room BTO at $380k as affordable? Wait MIW say if you only earn $1500/mth, then don't have such a big family ! Then don't say Singaporeans don't want to have kids... or just throw our aging parents alone on the streets coz no money for aged home stay too...

Just like that somebody from MIW said, 'do u want to eat in coffeeshop or at restaurant?'

[ysyap]

I saw its GREED. Got developer sell got people buy. Willing buyer willing seller. Don't complain. if price not right. don't buy. why kill ones self over a PC? No buyers Developer will adjust it.

There is more to life then a PC.

Agreed!

[DKSG]

I saw its GREED. Got developer sell got people buy. Willing buyer willing seller. Don't complain. if price not right. don't buy. why kill ones self over a PC? No buyers Developer will adjust it.

There is more to life then a PC.

Minority, as you can see we are the minority that can see this.

Over the years, in the name of motivating the workforce and economic progress, this country has stressed soooo much on material superiority! The rich is glorified, the poor condemned to receiving $300/$400 handouts and even a $3 increase has to be debated in parliament to further whack these people.

Everyone here wants to progress materially, they want to own more, get more money, buy this buy that, so that they can feel that they are superior than others. But they dont understand that human superiority is NOT a PC, not a car, not money in the bank account. Its the heart that matters.

Anyway, not many will understand what an Office Boy post also, so I keep it short.

DKSG

[chiaberry]

DKSG

If you are the Office Boy, then I am the Office Tea Lady.

[howgozit]

How did the country (aka Gahmen) specifically stress on material superiority? How are the rich "glorified"? So are you saying we should give more handouts or less?

How is this any different in any country?

Minority, as you can see we are the minority that can see this.

Over the years, in the name of motivating the workforce and economic progress, this country has stressed soooo much on material superiority! The rich is glorified, the poor condemned to receiving $300/$400 handouts and even a $3 increase has to be debated in parliament to further whack these people.

Everyone here wants to progress materially, they want to own more, get more money, buy this buy that, so that they can feel that they are superior than others. But they dont understand that human superiority is NOT a PC, not a car, not money in the bank account. Its the heart that matters.

Anyway, not many will understand what an Office Boy post also, so I keep it short.

DKSG

[hyenergix]

DKSG

If you are the Office Boy, then I am the Office Tea Lady.

I'm the janitor

[Allthepies]

...so that once u bought, u will be a slave to your loans and no choice have to work till 80++ till you die. Retirement is not an option. The is no escape.

Through making some alternatives arrangement and not following the "normal" path like most couples, I can fully paid up my hdb if I want to buy now after 2 years of marriage. It all boils down to choice and willingness to embrace tradeoffs. No such things as working till 80+ la

[phantom_opera]

Minority, as you can see we are the minority that can see this.

Over the years, in the name of motivating the workforce and economic progress, this country has stressed soooo much on material superiority! The rich is glorified, the poor condemned to receiving $300/$400 handouts and even a $3 increase has to be debated in parliament to further whack these people.

Everyone here wants to progress materially, they want to own more, get more money, buy this buy that, so that they can feel that they are superior than others. But they dont understand that human superiority is NOT a PC, not a car, not money in the bank account. Its the heart that matters.

Anyway, not many will understand what an Office Boy post also, so I keep it short.

DKSG

When you were born as Singaporeans, you are destined to work your life for Singapore Inc already. Let me repeat our founding father Mr LKY speech:

To the Middle Class:
Singapore is surrounded by Muslim countries. Singapore has no natural resources. In order to survive, Singaporeans cannot be complacent, one mistake, the whole country can go back to kampong living standard. Singaporeans are deliberately trained to be kiasu, must recognize A-Z at the age of 2, must perform show and tell at the age of 6, start British Council lesson at the age of 4 , to respect Ah Gong decision of CPF 2.5% rate, to be materialistic. Most middle class will pay 500k for 4 cars in Singapore, another 500k for the only property they have, buy another 500k shit of insurance to dream of retirement .... once all your money is in Singapore ... there is no other way but to continue to be slaves

To the Upper Middle Class:
We will ensure property is a good investment. Please continue to own multiple properties in Singapore while some you may migrate to NZ, Australia, Canada. We will ensure property price is inflated and ensure you get good rental yield

To the Rich:

Welcome to our gambling dens and play ground for the rich

To the poor:

Please move to JB when you are old

[House]

A pity, many citizens still didn't realize this FACT. By the time they do realize, their nx gen already screwed. Same like our previous gen, they are the ones who causes us to be screwed by voting for the wrong party.

When you were born as Singaporeans, you are destined to work your life for Singapore Inc already. Let me repeat our founding father Mr LKY speech:

To the Middle Class:
Singapore is surrounded by Muslim countries. Singapore has no natural resources. In order to survive, Singaporeans cannot be complacent, one mistake, the whole country can go back to kampong living standard. Singaporeans are deliberately trained to be kiasu, must recognize A-Z at the age of 2, must perform show and tell at the age of 6, start British Council lesson at the age of 4 , to respect Ah Gong decision of CPF 2.5% rate, to be materialistic. Most middle class will pay 500k for 4 cars in Singapore, another 500k for the only property they have, buy another 500k shit of insurance to dream of retirement .... once all your money is in Singapore ... there is no other way but to continue to be slaves

To the Upper Middle Class:
We will ensure property is a good investment. Please continue to own multiple properties in Singapore while some you may migrate to NZ, Australia, Canada. We will ensure property price is inflated and ensure you get good rental yield

To the Rich:

Welcome to our gambling dens and play ground for the rich

To the poor:

Please move to JB when you are old

[howgozit]

A pity, many citizens still didn't realize this FACT. By the time they do realize, their nx gen already screwed. Same like our previous gen, they are the ones who causes us to be screwed by voting for the wrong party.

So you feel "screwed" ? "screwed" by previous generation?

So which party do you think our last generation should have voted? ie.. the "right party" in your opinion. And since this is a property forum how do you think it will affect current property prices if the previous generation had voted differently. Or would it be the same, worse.... or better... and if better.. how and why.

Are you saying that if Singapore was less successful than property prices would be cheaper.... therefore the previous geneartion should have voted for a party that would make Singapore less successful.... hmm interesting

[House]

So you feel "screwed" ? "screwed" by previous generation?

So which party do you think our last generation should have voted? ie.. the "right party" in your opinion. And since this is a property forum how do you think it will affect current property prices if the previous generation had voted differently. Or would it be the same, worse.... or better... and if better.. how and why.

Are you saying that if Singapore was less successful than property prices would be cheaper.... therefore the previous geneartion should have voted for a party that would make Singapore less successful.... hmm interesting

Just one sentence for all your question marks.

Under a democratic gov, Singapore will be 10 times more successfull than it is today.

[howgozit]

So if Singapore is 10 times more successful, will the property prices be 10 times more expensive?

Just one sentence for all your question marks.

Under a democratic gov, Singapore will be 10 times more successfull than it is today.

[howgozit]

So if Singapore is 10 times more successful, will the property prices be 10 times more expensive?

There!.... Can't answer right....?

Thing is, if you are talking about socio-political issues there is no end to the debate. No one is right or wrong.. what we know now is with hindsight and with hindsight we can argue till the cows come home. Fact is I am not interested in the least who is in power.

But let's be practical and logical about it. Property prices are tied firmly to the economical success of the country. And as such, you can't have it both ways....ie. good economy with low property prices. The gahmen can only do so much to suppress the property prices. A lot is up to the market.

The feeling of being screwed is a "born loser" mentality. Look through the fog and deal with the reality of the situation.

[House]

So if Singapore is 10 times more successful, will the property prices be 10 times more expensive?

We will be going into a infinite loop to debate, sorry I hate to debate.
All the problems today were "man-made", the "2 is enough" policy back in the 70s explains all.

As for your question of 10 times successfull = 10 times more exp, hahahaha sorry I really dunno how to answer. everyone has a different gauge to measure success

[House]

There!.... Can't answer right....?

Wah I no need go toilet no need go lunch must die stick to the computer to check whether anyone asking me a question ah wait a while lah

[howgozit]

Bro,

I was talking about property but you are talking about politics...Your scope is way bigger than mine... I can't win

Anyway, I don't want a debate either, however what I do notice is that increasingly Singaporeans are blaming their lot on factors other than themselves... that to me is a waste of time. Better to look at the situation, the challeges it presents and deal with it instead of moaning...

ok ... enough said... brgds.

We will be going into a infinite loop to debate, sorry I hate to debate.
All the problems today were "man-made", the "2 is enough" policy back in the 70s explains all.

As for your question of 10 times successfull = 10 times more exp, hahahaha sorry I really dunno how to answer. everyone has a different gauge to measure success

[rattydrama]

So if Singapore is 10 times more successful, will the property prices be 10 times more expensive?

No if you have already bou 10 houses 10 years ago, you are ten times less stressful and 10 times more successful.

[House]

The gahmen can only do so much to suppress the property prices. A lot is up to the market.

Not when the problems were created by them
By opening the floodgate and let so much foreigners into sg within such a short period of time, this is how the market will react, price shoot upwards. Best thing is - more is coming, so what kind of CM will slow down the market?

Don't you think it is kinda oxymoron? Left hand open the floodgate right hand put some tiny stones to block the water?

[House]

Bro,

I was talking about property but you are talking about politics...Your scope is way bigger than mine... I can't win

Anyway, I don't want a debate either, however what I do notice is that increasingly Singaporeans are blaming their lot on factors other than themselves... that to me is a waste of time. Better to look at the situation, the challeges it presents and deal with it instead of moaning...

ok ... enough said... brgds.

Peace bro

[rattydrama]

Not when the problems were created by them
By opening the floodgate and let so much foreigners into sg within such a short period of time, this is how the market will react, price shoot upwards. Best thing is - more is coming, so what kind of CM will slow down the market?

Don't think it is kinda oxymoron? Left hand open the floodgate right hand put some tiny stones to block the water?

adversity is opportunity.

those who foresee 2 years ago the floodgate will open and jumped in are smiling all the way to the bank now.

however, no use to look back just think of the future... and I think the answer is clear.

[House]

adversity is opportunity.

those who foresee 2 years ago the floodgate will open and jumped in are smiling all the way to the bank now.

however, no use to look back just think of the future... and I think the answer is clear.

Yupz, especially the developers, they r not stupid. They are still bidding top dollars for land due to the 6m population target.

My ex boss used to tell me, anything that has got to do with money = supply n demand. It can never be any other reason.