Let's Talk Public Housing Episode 4 - Eco-system of Housing.

[@hadiazman8363]

Amazing.. They really are thinking for the people. We need more flexibility. You have my support.

[@scbchong6964]

It ever occur to you that Opposition supporters are hypocrites and liars? Are you a taxpayer yet or still living rent-free under your parents' roof?

[@1965Singaporean]

U tio brainwashed? WP don’t want contest 50% seat and don’t want form oppo alliance with other opposition how to be government? If sincerely want to help be form government mah. Go parliament kpkb can help? WP don’t want responsibility just only want mp pay.😂😂😂 WP are just scamming for vote.😂

[@hadiazman8363]

@@1965Singaporean who are you to judge who I support? You don't know my life story and how I ended up "brainwashed." Thanks for you opinion I guess.

[@tnylau]

Appreciate your best efforts to rally all Singaporeans for change to come, of course to to make work for the benefits of all Singaporeans we must forge and united together to support WP

[@hc1326]

Thanks & great job to come up with this series of videos. I am all for Opposition who can offer alternative voices. Not sure whether all the proposals are workable but definitely warrant the Govt to study them instead of rejecting outright. On the Renting Scheme, this offers flexibility but I think most Singaporeans would want to own their home & if possible pass down to their children. Asian culture.

[@1965Singaporean]

Voice got what f use? Can solve problems and help Singaporean meh? WP don’t want contest 50% seat and don’t want form oppo alliance with other opposition how to be government? If sincerely want to help must form government mah. Go parliament kpkb can help? WP don’t want responsibility just only want mp pay.😂😂😂

[@jameskwa]

Well done guys 🎉

[@gloucesterjet1]

Interesting alternative housing proposals indeed!

[@scbchong6964]

You agree to taxpayers picking up the tab for lifestyle choices of all greedy, selfish singaporeans?

[@stevefong5716]

Just curious if we can approach occupancy of estates, we had calibrated mindset that HDB is 100% occupancy / sold. Like any commercial and industrial, many had judge at ~80 to90%, HDB is clearly due to shortages. HDB should build ahead of time and had flexibility for unsold units as other forms of temporary rental stays. It helps alot to regulate the market price, the price we are seeing are likely due to shortage of supply

[@sesbeng9864]

Sounds simple, any illustrations of $ involved? Give exmaples.

[@focus168168]

Making BTOs affordable thru reduction in land valuation cost or offering 70yrs lease is the initial selling price on the initial supply side. But when it comes to 5yr MOp and other resales, people are going to value it according to probably a DCF of the rental that could be extracted from the unit for the remainder of the lease as well as comparing surrounding properties valuation (private and public resale - FH, 99yrs LH). Have you address the profiteering or high resale price from the resale HDBs. If not, it will be just exacerbating the lottery effect of the current system with LOWER BTO prices and higher resale prices.

[@tanpengjoo7205]

It doesn't make price sense when more flats are built yet prices are so high which one will have not much left when they retire worst with the c p f are delayed even longer to return to members after another long dark 10 years .

[@xiaohaosei]

Seems you do not need a buffer if you live longer and used up your savings based on the estimated time of dying. Who then will pay your lease topup?

[@dexterlee6604]

what if i do not have enough to pay for the additional extension of 29yr option?

[@DarylSpykerman]

if you start the lease at 21yrs young, you’ll already be 91 after 70yrs using the (70+29) model. Perhaps CPF could tide you over anther 5yrs.

[@andytan489]

Perhaps renting Public housing with possiblilty of utilizing CPF OA make sense too. Example buying a $400k for 99 years is equivalent to $4040/ year. Perhaps opening to public with HDB rental possibility of such arrangement; 5 year contract block Annual rate paid monthly, $4040 + 2.5% annual interest + GDP inflation adjust, yearly review. After 30 years of occupancy they will be given options to buy the remaining lease for the flat or continue leasing converting it to flexi arrangement. Once citizen lock in to 1 rental property, they will be considered taken 1 subsidy, every citize will still only be entitled to 2 subsidies. This way g o can deny housing flipping for profit, and retention of state land rights, and dwellers don't need extensive upfront commitment hence also lowered their interest lose over time. 3 prong, 3 win approach.😅

[@1965Singaporean]

Stupid. The rich will still be ricer. They can support my kids for buy instead of renting. Knn this suggestion only fool think can help the poor.

[@jarrenloke2120]

who will be responsible for upkeeping these rental flat when tenants leaves. who's is going to pay to make these policy work and why should home owners be paying for free loaders? what happen if the flat have mix of tenant and home owners? which mean there will be no community spirit because hdb will be like hotel.

[@aiciba4634]

But Leon 总no stay in public housing leh 🤔

[@StormyMusic9]

Eh, seems like reasonable solutions. I think the professors in NUS real estate / economics and some civil servants working in URA and HDB should do a feasibility review these suggestions, and then present their findings in parliament.

[@BeachBoi1000]

HDB get the money from where to buy back the HDB? HDB sells at $10,000 now have to buy back at $100,000.

[@BeachBoi1000]

After stating all the problems, you just come up with a shorter lease term.. I really have to admire your thick skin.

[@peterang3952]

So many restrictions for average earners to upgrade to make our lives better ..especially our locked CPF being locked ..

[@RonLarhz]

Yes i agree some less than 10storey ones should be redo to higher ones but not all as the flow of wind is important. U see china chongching massive buildings are so much 压迫感. Also the land can support the weight or not is the key issue. With so many drilling. Our small island can tahan or not.

[@markfish1113]

Agree with rent as an option, PAP won't dare to use this policy as it will lower down prices of the rental market when govt become price setter, naturally their style want rental and house prices to bubble. However many young couples with babies are renting in this few years due to lack of BTO. They complaining too expensive rent.

[@1965Singaporean]

We no need loser, they can migrate to JB if they think expensive

[@1965Singaporean]

U stupid sibo? Vote them to lower price, they tell us go rent. We Asian, we want property. Knn WP think we ang moh? Any party that can remove ABSD I will vote them.

[@magnusthor6259]

When it aint broke , dont fix it. For every policy, education, housing etc, it is very easy to suggest alternatives, extension, modifications to the policy all in the good intention to make it better. Once implemented, if it aint broke, dont fix it. There are always consequences to the changes you make. And in real life, many such changes are irreversible once you implement it. So is the housing market in Singapore so broken that worker pary must come in and fix it? HDB flat is a roof for everyone in Singapore. Everybody in Singapore can own a home unlike places like Hong Kong. Government ensure that by giving subsidies and grants to achieve that. Once my colleague lamented that Singapore is such a tough place to live that here son cannot buy or afford a house to stay. I told her that there are many HDB flats where he can apply eg Punggol area . She said "BUT WE WANT A FLAT IN CENTRAL AND THEY ARE ALL EXPENSIVE!" So she not only want a flat in Central region she also wants it cheap!. Now can the Worker Party solve that problem for her? Of course, just raid the reserves and give everyone what they want. How long can Singapore last?

[@1965Singaporean]

WP should tell PAP to stop letting PR own HDB to rent out the HDB. HDB is for them to occupy not rent out. Only Singaporean can rent out HDB.

[@magnusthor6259]

@@1965Singaporean This is called finetuning. I have no resistance to this idea and feel that you have a point here. I also feel that Singaporeans shouldnt use HDB flat rental for financial gains.

[@juniorjr5328]

People want affordable house means the price has to drop. Just prohibit the rentals of public housing will solve this issue

[@1965Singaporean]

WP is crap. Allow all HDB to extend leases is the best solution. This will also encourage birth rate because we are Asian want to leave something for our kids. WP should stop all PR buying HDB. For a start PR should not be allowed to rent out their HDB. Knn vote them in give this type of CB suggestion.

[@andytan489]

If AMK resale 5 rm would be possible to sell at $1.2M, chicken rice downstairs would easily be $13 each plate. Base on simple economics the next decade or so would not be possible to inflate the asset value like what our ancestor gov had hope for. 99 years lease were designed for a developing emerging country, not so for a developed country anymore. Base on the inflation swing in economy, the asset price in SG with 80% population in HDB true asset will be greatly impacted. Imagine your agent tells you now AMK 5 room now is only worth $300k but you paid for $800k (happened in 1994 to 1997). Basically economy here will collapse because 80-95% of citizen likely used their OA to purchase the house and yet get asset erroded in value when the market swing downard. So on 1 hand everyone wish for capital appreciation, on the other everyone wish for goods & service stagflation. Got to choose 1 side man. Why would we end in such dilemma? Is it because our forced savings are indirectly funneled to buy an asset which will definitely erode overtime unlike what our ancestor Gov had plan for? Hmm...

[@kilotami909]

We should not use the resale market price of HDB flats in mature estates to calculate the entry cost for young couples. Part of the reason why such a flat is expensive is that it can command high rental, which gives Singaporeans the flexibility to renting out their flat if they wish. Homeownership in Singapore is actually not expensive if Singaporean purchases BTO in less mature estates, and with government grants, one can actually buy a home with very little downpayment. So let's not use $1m HDB as a benchmark for homeownership cost here.

[@1965Singaporean]

@@kilotami909agree. My niece just got the 3room BTO in tampinese north. Their family income only 5k, no cash need after PAP grant. They planing to have kids now. Non affordability is because one spend out of his financial abilities. Singaporean are too entitled and WP is encouraging such entitlement mentality 😂

[@kilotami909]

@@1965Singaporean Jamus Lim has got the tendency to believe that he is the only well-traveled politician in Singapore, thinking that the policy of the West is always better than Singapore. Our education and housing policies are not something the Singapore government introduces without studying the overseas model. In fact, the government has been actively doing that since before Jamus was born. Instead of always trying to reinvent the wheel, Jamus and his young team should spend more time trying to understand Asian cultures and aspirations instead of always thinking about WEST WEST WEST.

[@markfish1113]

@@kilotami909all of u are elderly of course benefit greatly from housing policy to say that, back then there was no limit on flipping your dirt cheap BTO. The next generation won’t benefit from BTO flipping.

[@desmondwong8993]

WP is good idea and make sense, but i've 3 special needs children to taking care of what if when we depart one day, our home left limited time to stay. What will happen to my children.

[@samliang4900]

Government intention is to make money as the sametime to drain Yr cpf account so that u need to continue to work till u hit the bucket

[@peterang3952]

Best is CPF not to be join into country's Reserves...should be separated for housing and other Singaporeans need...is our hardearn money ...we should have a little say for our money

[@ericlim428]

Owning a Hdb flat is a lifetime Burdens . Look at the Prices going tru the roof . After owning the flat , they are tied up for life , 20 to 30 years . They too have to ensure the job is there to service their loans . Thats the fear , then having the wedding , then child bearings . Its overbearing for the young . No wonder many do not wants to have Babies regardless of the govt incentives . Its all addup to living costs n survival . Owning a flat took up a large chunk of incomes beside the cpf savings n accumulations . Its exhausting living here n AS SINGAPOREANS !!! Ya ?

[@kilotami909]

If a young couple in their 20s purchase a BTO flat from the government for say $350,000 with $50,000 subsidies, they are most definitely going to fully pay off their flat by their early 50s simply by using their CPF with no cash outlay. In 30 years time, their flat will still have a remaining lease of say 65 years perhaps worth close to $700k. Using current rental income for comparison, an HDB flat right now can be rented out for around $3-4K per month, which will amount to around $40k per year. Over 10 years it will be around $400,000; almost more than what they paid for 30 years ago . For Singaporeans, it will be foolish not to own property because Singapore land is limited and we have one of the best urban planners URA/HDB in the world, besides Singapore is a vibrant commercial hub for the region, that offers very good rental demand and income, and its also one of the places with the lowest mortgage interest rate. In Asian culture, we enjoy making money more than spending, and parents also have the habit of wanting to leave something behind for their children, and certainly, a fully paid-up HDB will be a good inheritance.

[@markfish1113]

Actually u wrong, HDB is not meant for inheritance hence they set at 99 years. By the time the son inherit, he is like 60 years old and his parents died, the HDB left less than 40 years and going down to 0. PAP don't want peasant to get inheritance, they want the son to marry, move out and buy another HDB himself. The rental policy at affordable price is viable as couples take too long to get their BTO nowadays, 5,6,7 years renting before getting the BTO or some despise HDB policy, rent first for their baby then buy condo once they get promoted in work. WP put up a real policy which PAP won't ever agree, because PAP want the renting and housing prices to form bubble. This effectively ask govt to be landlord price-setter for rent and killing off those speculators and rent income seeker. Imagine govt set 1.9k for a full 5 room flat, property agent cant go any higher than that.

[@kilotami909]

@@markfish1113 A HDB flat can generate around $30-40,000 of rental income per year. If a person can inherit an HDB flat and rent it out for just 30 years, the potential income will be well over $1m over 30 years. OR sell it for $300-400K. That is still a decent amount. If a couple takes the rental route and continues to rent instead of purchase, they will leave Nothing for their children. The property agent doesn't decide the rent its the market force that determines the rental. The recent delays of BTO is due to COVID-19 shutdown and the situation should improve in the coming months. Singapore's government doesn't go flip-flop in our policies like Malaysia does.

[@markfish1113]

@@kilotami909 Of course agent cant be price setter. I meant If the govt become price setter, agencies cant set the rental price higher for their client as they need comm. as well, will have to set lower to win against govt rental price. Regarding rental, there is too much supply in condo since everyone trying to rent out ppty at exorbitant price, if u can rent out for full amount u can't stay in the house as well, current prices means hdb face tough competition from condo, foreigners of course rent condo better with facilities. Regarding inheritance, in sg only landed property is good for inheritance. Trying to squeeze ur parents' HDB final years for money then i say well good luck to you, you have to get condo to stay. HDB was only good for investment in 90s which is your parents time, buying 5 room at 100k, now u will have to pay back their appreciated price for your own flat. WP rental policy is from young couples' feedback, it has good intention to rent 5-7 yrs first to start marriage however PAP see as radical as it will destroy rental market, housing bubble prices. I won't be surprised they implement one form of rental policy next time when the price bubble gets unreasonable, about slow BTO construction i don't think Covid is a good reason. To summarise, this HDB policy is a trojan horse policy which is a threat for PAP's power 3 decades later. Do u think your generation won't vote for opposition after inheriting their parent's flat?

[@joojijootan457]

Against public renting . That is totally against what Singapore homes are about. Its is about house ownership . If workers party want to rent public housing .maybe u can start by renting yourself . Please practise what u preach.

[@1965Singaporean]

WP are promoting western woke culture, they majority don’t own property in the west. JL openly encourages gender fluid in schools in one of his parliament speeches. Yet WP stupid supporters keep quiet.😂

[@scbchong6964]

Why does WP insist that govt and taxpayers pick up the tab and hold the bag for those greedy, self-centered and inconsiderate citizens? You can overspend on HDB public housing and believe there are no consequences and sacrifices to be made? No need to pay the price for impulsive spending?

[@jarrenloke2120]

If Singapore government doesn't reuse our hdb land after 99 years future generation of young Singaporeans will never get the chance to live in bto in matured because those land will perpetually be reserved by those who can afford to buy expensive resale flats and wait for sers. This is again another short term populist suggestion by Jamus.

[@scbchong6964]

@@jarrenloke2120 Jamus and WP seem to ignore the fact that their supporters are merely greedy, selfish and complacent citizens who are dependent on Opposition to solve their life problems for them. So it is easier just to tell voters what they want to hear. And never discuss the trade-offs, sacrifices and consequences.

[@kilotami909]

If Singaporeans were brought up with a renting mentality like the Western society, many Singaporeans will go broke because Singapore is not a welfare state and WP will never dare suggest the middle class to pay 50% of income taxes. By delaying the purchase of flat through renting, prices of property will become more expensive over time and the tenure of the mortgage will become shorter as one ages. In the property game, the earlier you start the better you are when you reach retirement age. And I find it ridicules to suggest that government must devalue of land value just to make Jamus Lim idea look feasible. I think Singapore government has got better plans to address the issue and certainly not renting.

[@1965Singaporean]

Rental😂😂😂 when war come all run away because no asset in SG. WP want to make Singaporean not loyal to SG and poor? WP should remove ABSD, I sure vote WP! Singaporean should ownmore asset

[@VENUSFTW]

Any more pointers? Other than this war one.. cause its a load of crap don't come talk cock and say all singaporean home owners will stay and fight when war comes lol one-dimensional pappy supporter

[@1965Singaporean]

JL of WP are encouraging and promoting woke culture in Singapore, go google his gender fluid speech in parliament. Vote WP if support LGBT and gender fluid for kids.😂