When i read the papers today, something really got under my skin and I have to vent it out here.
The following is an extract from what Mr Mah BT said, in reply to Workers’ Party call for HDB to peg new house prices to median salary.
Inserted in between are my thoughts.
“All the markets are inter-linked … So, when you reduce new flat prices, there’ll be an impact on the resale flat market," he said.
What is he talking about? New flat can only sell after 5 years, by that time, a lot of things would have changed. And who are those buying new flats? Young couples who have just started working and should not be asked to fight with the market out there, comprising of people who have worked for some years/have saved up along the way or rich PRs. And of course they are inter-linked, so by not controlling the resale market, they have indirectly raised the prices of new flats. Can’t he see the fucking logic?
Mr Mah, who spoke to reporters on the sidelines of the Urban Redevelopment Authority’s Corporate Seminar, said a price reduction means the Government would have to provide additional subsidies.
I LOL-ed at this statement. In the first place, the subsidy given was non-existent, a mere discount by a far-fetched standard. Subsidy, according to the dictionary, is “a grant or contribution of money". I will only ever consider a subsidy is given if gahmen sells new flats below the cost price. Don’t try to smoke us by saying that gahmen gives subsidies since they are selling flats below market rates. In the fucking first place, HDB is meant to be cheap and affordable, not pegged to market rates. WP’s recommendation to peg to median salary was already kind enough in my opinion.
He defended the PAP’s approach: “We’re proud of the asset enhancement policy. (It) has given almost all Singaporeans a home of their own, a home that’s also an asset … that grows in value over time."
So what if it grows? We are merely owning it for 99 years. We have to pay from CPF, pay back with that fucking interest back to CPF when we sell the house. And since the market is growing endlessly, we sell the house and need to buy another, which would be ridiculously expensive. So what’s the fucking point?
Please lah, PAP. You painted such a nice beautiful picture but it’s a vicious cycle until we get out and buy from private market. Isn’t PAP screwing with its people, the young ones especially when HDB new flats are so freaking expensive?
HDB expensive > young singaporeans cannot afford + FT coming in to depress the salary level = need to save up much longer to get married = marry late = no time for kids = singaporeans’ population decrease > import FTs
Isn’t this so obvious?
And yet, PAP, you don’t want to realize your mistake and start making amendments?
No matter how much ang bao money you can give, this HDB issue alone is enough to make me vote against you.