Not for love of money, but of Humanity. "Greater is he who works for the good of all, then he who works for the good of himself only" ~ Matthew 25:40: "The King will reply, 'I tell you the truth, whatever you did for one of the least of these brothers of mine, you did for me.'"- (NIV). I live in Singapore where the Emperor must not be disturbed.

Tuesday, December 24, 2013

Singapore government should stop inflating HDB BTO prices just to pay themselves well.

Singapore government opts to keep property prices artificially inflated/ high???- why???!!!
To earn more revenue to pay their own salaries is it???
In the 1960-80s, Singapore was a real socialist state, confiscation farmland from the rich to sell HDB flats to all Singaporeans at costs plus prices (minimal land component costs for confiscated (cheap) land), why suddenly now talk about HDB BTO at market prices??? It's public housing for the poor/ very poor after all- just to justify PAP salaries at self determined "market pricing" is it???
At this rate, Singapore becomes just another corporate with PAP as its main / only shareholder/ owner. Citizens of Singapore are just employees or slave labour...
Singapore might have had its roots in socialism, but indeed, the path it has taken today, at least regarding public housing pricings, resembles the curse of communism...
Land supply: Let market forces prevail

Melissa Tan
The Straits Times
Saturday, Dec 21, 2013
Fears among developers that an oversupply of private housing is building up appear to have prompted the Government to reduce its supply of land sharply.
The amount of development sites it will make available for sale in the first half of next year will be able to yield only about 11,600 homes - the first time the number has fallen below 14,000 since the second half of 2010.
The supply slowdown suggests that the Government is "taking a more cautionary stance" towards the property market, said Jones Lang LaSalle research head Chua Yang Liang.
Colliers International research head Chia Siew Chuin added that the Government will probably continue reducing supply.
The upcoming home supply for the first half of 2014 is 18 per cent lower than the 14,155 units earmarked for the second half of this year, and also significantly lower than the 14,035 units planned for the first half of this year...
- See more at: Sharp cut in govt land supply for next year | AsiaOne Business
The Straits Times, Published on Dec 24, 2013
Land supply: Let market forces prevail
I AM perplexed by the Ministry of National Development's decision to greatly reduce the supply of land for next year, following developers' concerns about oversupply in private housing ("Sharp cut in govt land supply for next year"; last Thursday).
The recent rise in property prices was seen as a result of strong market demand. Similarly, if prices were to fall, should it not be accepted as natural market behaviour as well?
The ministry's decision seems to suggest that, despite the talk about letting market forces prevail, the Government will still step in to protect the interests of developers in the event of oversupply.
This creates a moral hazard whereby developers bid aggressively for land, knowing they will be protected if things go wrong.
The decision also suggests that the ministry is satisfied with current property prices, and this translates to minimum prices expected for private properties. This acts as an implicit price guarantee for private property owners.
A sharp decrease in property prices is not in the interest of all stakeholders, but we should also respect the principle of market forces.
Every market follows a cycle of ups and downs. Any decrease in property prices is temporary and, in the long run, prices will recover.
A drop in property prices does reduce the earnings of the country from land sales. Perhaps it is time to consider introducing capital gains taxes on properties, so that even when land is sold cheaply to developers, the country can claw back the gains via future transactions when property prices increase.
Teo Jin Chong
Copyright © 2013 Singapore Press Holdings. All rights reserved.
Land supply: Let market forces prevail
Singapore govt exponential rate of salary increase:
Cannot help but wonder if paying taxes or buying property in Singapore is really all about buying into a scandalous/ criminal ponzi scheme...
Singapore government should ensure that all property is affordable to Singaporean's at a reasonable multiple of the annual median salary so that the kids of these Singaporean's do not get short changed in their childhood- e.g. cut backs on education or food etc- HDB should thus be priced affordable and rental units affordable/ available to the poor.
The land belongs to the govt and even new BTOs are still "subsidised public housing" choke full of restrictions- long term rental housing only. The govt shouldn't try to manipulate market/ private land sale prices JUST SO HDB BTO CAN BE priced higher.
Please remember that Singapore has socialist roots, HDB were once cheaply sold because of the compulsory acquisition land (farm/ vacant) from rich landlords at government determined pittance prices. HDB should thus use socialist ideals to price HDB universally, not private property/ capitalist prices, just so that PAP Ministers can command MNC CEO salaries...
We have failed to properly support the poor/ very poor, the desire for communist era excess privilege for ruling elite has derailed the genuine socialist ethic of the original PAP socialist government.


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