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One of my Indo friends even said to me COE here still very cheap , COE price should go up further to deter more from buying cars so as to ease road congestion in Spore .
It all depend which side of the fence one is sitting.
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if u have car u want the roads to be smooth so u want COE to be high,
now replace the car with HDB flat ....its the human mentality.
people will yearn for cars as long as traffic here is smooth & no jams.
if u want people to take public transport the comfort factor for owning a car must go down so u need more cars on the roads to encourage people to take Public transport.
That is how human Mind works
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Quote:To give example, the stupid 100% car loan. The policy makers very slow
in reacting. Then overreact with 50% rule. Then backtrack. Lose credibility.
Maybe ministries in silo thinking. LTA and MAS not thinking.
i don't think so. i think it's on purpose to let as many as possible for wage earners to own a car regardless of knowing COE will rocket to the sky. Then hopefully the working class can't say they don't have a chance to own a car. But what happened was regardless of sky high COE, working class still kept on buying car because of the 100% car loan? (My neighbour as a // car importer had made tons of money then.There was even rumour when you bought a new car, part of the 100% car loan could be advanced to you as cash.) i think here was where the G had been caught off-guard.
You know the rest of the answer, Don't you?
Any one like to commend what's going to happen next comes 2015/16 on car ownership? Less people or more people buying cars? How the G going to tweet the car ownership's problem (COE, % of Car Loan, PARF, OMV, etc...) What other things the G can "manipulate"?
Don't forget 2015/16 will be GE year.
WB:-
1) Rule # 1, do not lose money.
2) Rule # 2, refer to # 1.
3) Not until you can manage your emotions, you can manage your money.
Truism of Investments.
A) Buying a security is buying RISK not Return
B) You can control RISK (to a certain level, hopefully only.) But definitely not the outcome of the Return.
NB:-
My signature is meant for psychoing myself. No offence to anyone. i am trying not to lose money unnecessary anymore.
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can we split this thread into a discussion on Car loans & COE. we seem to have deviated from the original topic
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(05-02-2014, 09:31 AM)viruskbs Wrote: can we split this thread into a discussion on Car loans & COE. we seem to have deviated from the original topic
I suggest that buddies to focus back on the main topic of the thread, instead of splitting it.
OT a bit is OK, but maybe too much in this case.
Thanks
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There is no way the G can tweak the COE policy to please everyone and keep the policy objective to limit the car population. No matter what, car prices will be high. The cure is to improve the public transport system to the point where its natural to not own a car. New York city is a prime example where even high wage workers take the subway to work.
As for HDB. Let's take a thought experiment. Lets assume the G builds and sells HDB flats at construction cost + admin cost. Ignoring the vested interest of home owners who already own flats, what are the possible consequences?
1. Almost everyone and his cat will rush to buy a flat - whether or not they need it. Result : over building and a construction bubble (don't believe it? Look at China which achieved the same thing with cheap credit). Either that, or extremely long queues (think decades) to wait for a flat. Also, everyone will want to buy a executive flat - forget 3/4 roomers! Where's the land coming from?
2. This largesse does not benefit people who are (A) too poor even to buy the lower cost flats, (B) people who still prefer to stay with their 3 gen families. Basically the G would be effectively giving money from one side of society to the other.
3. HDB sells flats in Marina South and Sengkang. All at the same price? What to do? Ballot ? haha. 4D huat ah.
4. You want to sell your flat and move to another place due to work. At what price? The G is outbidding you! Of course, maybe you were lucky enough and got a flat in a good location. Then see (3).
5.The HDB housing stock explodes. It crowds out offices/factories/parks etc. Everywhere you see is HDB. Lots of empty flats coz people buy as its cheap, but they prefer to stay in family units. Rentals plunge.
Summary, the G treads a middle ground and sells at Market minus what they think is a suitable subsidy to cater to economic efficiency and social good. They heavily subsidize 3 roomers and families too poor to buy and have to rent. Everyone else has to decide how to maximize their housing utility and purchase housing suitable for their budget and needs.
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Usually things go extreme in measure is bad, same with COE. When G relies mainly on upping the cost of car instead of improving public transport this shows a lack of capability and innovative solutions especially so on organization that hoard talents on huge social expenses.
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