How much shd i bid for COV


tomasulu

Member
it is ironic and shortsighted for buyers to want extreme measures to curb housing demand. because once prices go down and a buyer enters the property market, he'd want the opposite scenario to happen - that is, for property prices to stabilize or even rise. but govt policies have a way of spawning into something beyond what was originally intended. and even if the policies are changed, their effects may linger and difficult to reverse.

remember 1997 and be careful what you wished for.
 

verluv

Member
Hi Thomas, you got to check. coz the 2nd wave of cooling measures were also implemented early this year. If you buy after the measures were introduce, your MOP will be increased to 3 years instead of 1 year. But still better than the 5 years MOP now la...
 

verluv

Member
I dont know whether it will drive the COV to DIVE southward... the measure that was introduced also state that those people who is thinking of switching flat got to think twice coz they will have to sell first before they can buy. Don't know whether it will reduce the seller in the market...
 

verluv

Member
congratS! at least you can sell your house after 1 year. But then if you sell your house within 3 years, there will be another stamp duty payable...
 

powder

Active Member
toma,

unfortunately foresight isn't a strong attribute for locals. most pple react based on their own situations... Doing ABSO-FCUKING-LUTELY NOTHING except to expect help. of cos, there are also genuine pple in the current climate who do need help, but the help should come in more targetted n specific, rather than a general sweep of the brush.

so now as we buy cheaper HDBs (assuming), our parents get screwed on their resale ones (assuming they just bought not so long ago). But fair enough, u can't please everyone.

mentally, i think some pple prefer to have the bar lowered for them, than to actually attain it on merit. but that's just me, i can be very critical of locals.

it's a good thing i set my buying month to be october... looks like i have to re-assess and put it at mid of next year now...
 

tomasulu

Member
i am a big libertarian so i wish the govt will butt out of our lives. let the market forces decide where and how people live. having said that, i don't blame folks for their insatiable demands. there is an implicit social contract at work - absolute governing power in exchange for a 'good life'.
 

miloice

Well-Known Member
There is a need of a balance. If its driven only by market forces, we are discriminating those that are less fortunate and capable. Not everyone is able to compete on the same level ground. And it might not even be their fault. We don't literally ask them to eat shit.

The entire environment cannot be focused on achievements alone. We need to care for those around us and allow others at least a decent living of having a roof. The HDB has done well thus far on this. But, if we continue to move towards only the economic growth and not care for the lower income, the resentment will only grow. And the achievers just discounting them as whinners. Any government that ignore the calls will be hated by its people.
 

simpleman

Active Member
Milo, I agree. But the main problem is that the whinners are those who are greedy and want to make more out of the property that they are buying from the government.

Or the government should buy back from everyone (and not allowed on open market) at the original price + inflation.. and then resell to those in need? YOu know those people buying new HDB will cpcb because they will "lose out" but not being able to sell in the open markent.
 

simpleman

Active Member
I stayed in queenstown for many years. MY ex-mil was in redhill then to tiong bahru.. so I am 100% familiar with the place.

I still go to the market to have breakfast once a while. But I prefer the old market..
 

thommy

New Member
wah sm, didn't know u were our ex-neighbour hehe.

old market? u mean tiong bahru market? or ABC brickworks market?
 

simpleman

Active Member
Old tiong bahru market.. and yes, ABC brickworks market.. is it still there? One of the last place to have "bowl cake"

Bukit Merah used to have the "bowl cake" but nowadays I cannot find it anywhere in SG.
 

powder

Active Member
i think it's lost... last i had it was in taiwan... my ex-gfren used to love it, so i only know bukit merah have it.
 

powder

Active Member
sm,

there's always winners n losers. those who benefit keep quiet and hope for no change, those who dun - make lotsa noise for change. i think it's fine, that's the way life is... what i dun like, is pple who wanna win by virtue of changes And not by effort. byt effort, i mean understanding the climates better, understanding the systems, and makign the best of their own situations and progressing at their individual levels.

what sickens me most, would be pple fighting over parents' properties, even at HDB level. i've seen quite enough of such crap.

anyway we have a new system to adapt to... and i bet u some pple will not adapt, and start shouting for change soon again to benefit themselves.
 

simpleman

Active Member
SG govt has been mostly careful and prudent in this area. Policies are general enough and measures put in place to curb excessive speculation. I think it is fair and we just have to make the most out of it.

Personally I haven't heard of anyone needing to top up their loan when the property prices dive. The banks are very conservative.. Those days of 110% financing are over.

So people having cash at hand will benefit as they can invest timely. Property has always been about timing even as location is important. If you don't have cash on hand to make quick decisive investments, it will limit your capability considerably. Or at least you must have credit lines available at short notice.

Sometimes I run in cash-flow problems as well.. especially during buying / selling of property.. that is why I always make sure all facilities are open so that I am not hampered by lack of funds.
 

simpleman

Active Member
By the way, I have sold all my properties except the one I am staying recently... waiting for completion of sales..

So if the market soften a little, it is really good timing..
 

powder

Active Member
of cos sooner or later, some pple will want-in as well and start forming little groups to get in again... and then u will see social problems when 1 of the groupies need to sell due to the lack of funds.
 

sgbabydoll

Active Member
Bowl cake in S'pore is smaller than those in Taiwan, I think, and are sold in a pack of six. Ever since Tiong Bahru market is renovated I have not been there.
 

thommy

New Member
sm, yes, abc brickworks market is still here. lotsa ppl still go there to eat, esp during lunchtime. quite ashamed to say that I dunno what's bowl cake...perhaps I shld go there to recce hehe.

doll, now the market is more airy and spacious...fruits there are cheap and good, upstairs food centre always have long queues! try to avoid going there during weekends.
 

sgbabydoll

Active Member
Thomas, have you been to 阿昌粥 at Tiong Bahru? I find that their standard has dropped. Did they change management?
 

thommy

New Member
I don't notice signboards one leh haha...have only tried porridge there once, not sure whether its the same one we are talking abt here.

the ones I always try there are chwee kueh, chicken rice, tiong bahru bao and lor mee.
 

miloice

Well-Known Member
sm, I'm thinking aloud here... why can't we have the differentiation over subsidized vs open market housing. Those that get their housing at very subsidize rates would be restricted by different policies against abusing the subsidy. e.g. no sub-letting, capping or taxing the profit from the sale.

This way, the same kind of housing would be able to serve both the poor and the investors.
 
i work in tiong bahru area & frequent the market @ Bukit Merah Central.

The Tom Yum Yi Mian & the Claypot Rice from one stall is a MUST try!!
 

simpleman

Active Member
milo,

I don't think it so simple to segregate and much more complex.

Still people getting subsidized unit would question why they can't sell at high price.

Current measures not ideal but it does have a buffer between new flat and re-sale flat prices..

I don't have the answers..
 

powder

Active Member
it's tough unless it becomes basic practise for all new couples to buy Direct. and hdb keep the prices of their new flats pegged lower... But this takes away the choice of couples wantiong to live in certain areas... and we're back to square one. so to be honest, it was ok as it is... the latest change ok to me i guess... seriously u either can afford, or u can't... if u die die wanna stay at certain places - u gotta pay. there's no way two ways abt it, there's no way to eradicate higher prices for certain areas...

but being us, we tend to try to justify how much we deserve to stay certain places becos we have no choice... our parents stay here, need baby-sitting, etc etc...

it's like suddenly u realise your parents living in the most expensive HDB estate... and u Never knew prior to applying for a freakin flat. then the act blur part comes, the hoping part comes...

pain lah... if i work in HDB, i think i need a pail beside me for all the blood i vomit.
 

simpleman

Active Member
I think the govt realize that they screwed up previously by allowing people who bought private to buy HDB.

Now they are merely correcting it to make it more difficult to own both.. which I think is the right policy.
 

powder

Active Member
ya that part fair enough, but of cos, there are those who may have inherited or have their names 'borrowed'/Used to buy private property... feel sad for this group... they may be barely affording a hdb but now deemed and bundled with the rich. and if u happen to have gone bust and need a bigger place.
 

simpleman

Active Member
How bad can it be.

If someone inherit a private property.. they can alway sell it.. then rent for 5 years - after that can buy HDB liao.. what so difficult.

I had a friend.. who inherited a bungalow.. and still complain about being poor.. He could have let go of the bungalow, bought a condo.. and don't have to work for life.

But he choose to whine.. and said that living in condo is a lost of space... etc etc etc..

And names used in private? I don't see many of these.. why would people ask other people to own their property? Unless they don't want the property to be under their asset. Surely, they can manage.
 

powder

Active Member
the names thing is quite real... amongst family mostly. when some pple who buy hdb not allowed to buy private, they tend to borrow brother or sister's or mum's name to buy. it is common actually...
 



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