Posts: 939
Threads: 1
Joined: Oct 2010
Reputation:
11
Well, KKW incorporated means testing to our healthcare. Cant he introduce that to pp purchasing subsidized HDB flats as well? Dig into the buyer's family status. If very rich, prevent them from buying from HDB.
Posts: 3,724
Threads: 6
Joined: Oct 2012
Reputation:
95
02-01-2013, 03:38 PM
(This post was last modified: 02-01-2013, 03:40 PM by specuvestor.)
^^^ Agree with Yeokiwi... it is not so easy to draft a policy that is easily understood and executed. I think the EC should just be a higher end form of HDB schemes for the middle class rather than to converge with pte condos.
(02-01-2013, 12:09 PM)psolhawk Wrote: (02-01-2013, 10:32 AM)Musicwhiz Wrote: (02-01-2013, 10:27 AM)plguru Wrote: with income capped at 12k per household, its interesting that these buyers can afford 2.05m for the penthouse..
I find it fascinating as well. Worthy of further research as to whether such households are truly over-extending themselves, or whether the flood of hot money is just flowing into our tiny little island to boost property prices further.
I recently learnt that I was three degrees of separation away from that family who purchased that unit. There is no issue of over-extending cos the father (of the son whose name is registered as the lawful owner of that penthouse) is paying it all. In that sense, there appear to be no laws and rules breached, isnt it? Other rich parents can likewise pay for their children's properties, be it subsidized or private. Think about it. That family was just seizing upon an opportunity that sprung out, a developer who tried to navigate the rules and come out with funky units that makes the news. Good/bad publicity for the project.
I agree as well. These huge size are very underpriced and these rich folks are "arbitraging" it. There is unlikely to be such units in future because it obviously go against the spirit of HDB. It is an execution error. They left it too much to free market which like I keep emphasizing, is very efficient but NOT EFFECTIVE in pursuit of greater goals
Before you speak, listen. Before you write, think. Before you spend, earn. Before you invest, investigate. Before you criticize, wait. Before you pray, forgive. Before you quit, try. Before you retire, save. Before you die, give. –William A. Ward
Think Asset-Business-Structure (ABS)