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hi dreamybear,
Housing is indeed a complex issue, especially in the case of public housing (and been "public" in nature, one cannot escape politics).
Since it is complex, it probably cannot be looked at from a singular perspective. Heck, maybe the holistic solution/s isn't going to come from housing too! Or maybe there will never be good enough solution/s for everyone. Someone will win, someone will lose in democratic capitalism (communism anyone?)
But one thing is for sure - on a net-net basis, it is better to have asset inflation than asset deflation for the general populace! If this is the system that we are left with and there are little choices, then one just have to find work-around solutions to it.
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24-02-2023, 11:58 AM
(This post was last modified: 24-02-2023, 11:59 AM by specuvestor.)
It's more complex taking into account psychological feedback and anchoring issues. Just look at Japan past TWENTY years. And there are also other factors like personal safety, safety of asset, traffic, tax, culture etc
land has to be part of the pricing else the gap between public and private is too wide and non competitive. It's like saying NTUC Fairprice dont have to pay rent.
(24-02-2023, 09:17 AM)weijian Wrote: hi dreamybear,
Housing is indeed a complex issue, especially in the case of public housing (and been "public" in nature, one cannot escape politics).
Since it is complex, it probably cannot be looked at from a singular perspective. Heck, maybe the holistic solution/s isn't going to come from housing too! Or maybe there will never be good enough solution/s for everyone. Someone will win, someone will lose in democratic capitalism (communism anyone?)
But one thing is for sure - on a net-net basis, it is better to have asset inflation than asset deflation for the general populace! If this is the system that we are left with and there are little choices, then one just have to find work-around solutions to it.
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)
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02-04-2023, 04:19 PM
(This post was last modified: 02-04-2023, 04:30 PM by CY09.)
"....The Straits Times has learnt that letters are being sent to some first-time buyers of private real estate asking them to explain why they sold just 1 per cent of the same property to a relative barely a week after exercising the purchase option...."
This is a symptom of inequality in our country. Why relatives are roped in is because the relatives are the party able to service the loan of the original buyer. What I know is that it tends to be the parents who are the ones helping their children to own as first time private home buyers. Why is this prevalent? This is because property in Singapore is an excellent store of wealth with government immigration policies helping to sustain increased price increases. So rich families will do their upmost to help their children own their first private property; paying only 1% in ABSD/SD is a cheap price to pay in exchange for a property that appreciates about 4-5% per year.
Personally I'm for a policy where the property tax for private properties are increased. This will solve the inequality problem and improve tax revenue. However, what I am personally witnessing is that the increase to the property tax bracket for private properties is painfully slow (in my view) [Most condos will see their tax go up from 6% to 10% within the next 2 years, however, I feel it should be moving to 15% which is the approximate rates in other developed economies]
For those who are born poor, Im sorry that you are born here