Comments on: Home ownership as a hedge against inflation

By: roger

roger — Sat, 03 May 2008 05:47:14 +0000

One possible way would be to revise the current subsidies system for first time home owners to one that is such that the longer a person owns a flat, the more housing subsidies a person can enjoy, of course, subject to a maximum cap. The subsidies will be paid out yearly, with low subsidies in the initial years and higher subsidies as time passes. This system is flexible and allows home owners who wish to sell their flat within a few years of purchase the option of doing so, which is not possible under the current system.

better still, why not give free housing?

By: Ostrich-gazer

Ostrich-gazer — Mon, 03 Mar 2008 14:09:49 +0000

Legally, all those who signed a 99-year lease, or any lease, cannot be defined as the “owners” of any property, let alone a govt-controlled and political-party-dominated HDB (Highly Dictated Bureau) flat. The use of the word “OWNERS” (when defining the status of HDB flat dwellers) has been too frequently and speedily dispensed off by people who seek personal popularity and recognition, without giving any due respect to the intelligence and literacy of the common people, the very people whom they are seeking support from.

Sad it is that a tiny island, boasting of being 1st World this and that, still harbor such naive ostriches that can be easily mesmerized by the self-enriching and cunning foxes and wolves in white sheep skins!

By now some, if not all, should very well know that each and every new rule or regulation is politically motivated to seek the continued control and dominance of a single political party, not as it would like to have been believed, to and for the benefit of the majority of the people. View all policies in the overall strategic objective, and one would easily feel and sense the ultimate and final objective of all those in control of your life!

This has been a country I once loved but it has been too long for me to want to continue living here under such make-belief conditions. Even the news and tv programs that we read, listen to and watch, have been a mass of nothing but propaganda with political objectives.

Wake up, educated ostriches!

By: xtrocious

xtrocious — Mon, 03 Mar 2008 00:49:23 +0000

Hi Aaron, true we can’t bring our flats along with us when we pass on but we can still pass it on to our descendents (for those who intend of having any) or next of kins…

However, given that the government now expects everyone of us to live to ripe old age, there may not be much to pass on in terms of lease…

Anyway, it is true that each time the HDB enblocs the apartments, they are effectively asking people to top up and pay for another apartment…

By: Aaron Ng

Aaron Ng — Fri, 29 Feb 2008 08:50:57 +0000

xtrocious,

Well, I guess if we can’t outlive the lease, it’s as good as owning it. After all, we can’t bring the flat with us when we die, no?

But I do have something to say about the en bloc scheme of HDB flats. People finish paying off their flats, HDB comes along and decide the flat is due for en bloc and then people have to pay for a new flat again.

By: xtrocious

xtrocious — Thu, 28 Feb 2008 09:01:14 +0000

Frankly, the way our HDB policies are structured, we are merely “renting” from the government, albeit paying “rent” for 30-years for a 99-year agreement…

Even if the home loan payments don’t hit us, inflation will still be felt via higher conservancy charges, car park charges, utilities etc etc

Last but not least, don’t forget how rising Net Annual Value can come and bite us later when inflation pushes rental high enough to warrant us having to pay higher property taxes…