Comments on: HDB flats and the illusion of wealth

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By: HDB flats and the illusion of wealth « Chapter Two: Reload

HDB flats and the illusion of wealth « Chapter Two: Reload — Mon, 25 Apr 2011 06:04:18 +0000

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By: manipulated

manipulated — Tue, 21 Dec 2010 07:47:55 +0000

hdb deliberately allow 2 single pr siblings age above 21 to buy our resale flat is the main cause of high prices of our resale flats. As a result of this, the new flats and other private property prices will shoot up. Prs can easily buy resale flats unlike we sporean siblings aged 21 are prohibited to buy. We can only buy when we form a nucleus family or single above 35 years old. Prs siblings are taking this opportunity to buy our resale flat at all costs and sell at higher profit once the prices go up. Double win for them as they earn a salary and making huge profit selling the flat . Ultimately, the biggest winner is HDB. All hdb flats prices keep shooting up.

By: Chipboard Sheets ·

Chipboard Sheets · — Mon, 08 Nov 2010 08:27:59 +0000

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By: Aaron Ng

Aaron Ng — Tue, 05 Jan 2010 11:06:33 +0000

Alvin,

To be fair, the government did not raise the price of HDB flats. It would be more accurate to say the government allowed the price to increase. Anyhow, both are just different sides of the same coin.

Anyway, you got what I was saying, that is, you feel rich, but you are not rich in reality because to monetise your gains, you have to sell your flat. So if you sell now and make a profit, you need to buy another one now, and since the market is going up, your “profits” go back into the new flat since you have to pay more.

By: Aaron Ng

Aaron Ng — Tue, 05 Jan 2010 11:02:54 +0000

I guess what Melbourne is trying to say is that you can’t mortgage your flat to raise capital for another property. You have to sell your flat if you want to raise capital, and if you do that, you run into the problem of needing another roof over your head, so you still end up with only one piece of property rather than two pieces of property, which would have happened if you can mortgage your flat to buy a second property.

By: Alvin

Alvin — Tue, 05 Jan 2010 03:57:47 +0000

I am not really into this, and do not really know much.. but i have a thinking, they raise the price of the hdb flats, reason is to,of cos by the author, make us think we are earning $$$ from the flat we own…make us feel rich.
The other reason is to suck more money out from our CPF…. :!

By: j

Sat, 02 Jan 2010 11:13:42 +0000

“The “secret”, which I have never seen mentioned on any website whatsoever, is that it is prohibited to leverage against a HDB flat. Effectively making any kind of gain in its value worthless for this purpose.” — Melbourne’s comments.

Hi — I can’t really understand the word ‘leverage’ in this context here. What does Melbourne mean when he says that “it is prohibited to leverage against a HDB flat”? I can’t really follow the implications here.

Also, about John’s comment:
“For those born in the late 70s or early 80s, chances are most of their parents already own a flat.Technically the day will come when the parents will, well..move on, and the gain from the sale of this flat/property can be distributed to the children.”

I was born in precisely this period. I think that my parents would be hurt if they read this, although I think I follow the spirit of what John is saying. Just some thoughts.