Comments on: Drawbacks of HDB using STIR benchmark of 30 per cent to assess public housing affordability http://www.temasekreview.com/2009/09/03/drawbacks-of-using-stir-by-hdb-to-assess-public-housing-affordability/ The Voice of Singapore from Singaporeans for Singaporeans Tue, 16 Mar 2010 18:21:02 +0800 http://wordpress.org/?v=2.8.5 hourly 1 By: How much is HDB profiting from the sale of new flats? : The Temasek Review http://www.temasekreview.com/2009/09/03/drawbacks-of-using-stir-by-hdb-to-assess-public-housing-affordability/comment-page-1/#comment-28428 How much is HDB profiting from the sale of new flats? : The Temasek Review Tue, 22 Sep 2009 06:15:58 +0000 http://temasekreview.com/?p=12832#comment-28428 [...] >> Drawbacks of using STIR as a bench mark to assess housing affordability [...] [...] >> Drawbacks of using STIR as a bench mark to assess housing affordability [...]

]]> By: The macro factors behind the Housing Crisis in Singapore : The Temasek Review http://www.temasekreview.com/2009/09/03/drawbacks-of-using-stir-by-hdb-to-assess-public-housing-affordability/comment-page-1/#comment-25710 The macro factors behind the Housing Crisis in Singapore : The Temasek Review Mon, 07 Sep 2009 01:10:20 +0000 http://temasekreview.com/?p=12832#comment-25710 [...] >> Drawbacks of using STIR as a bench mark to assess housing affordability [...] [...] >> Drawbacks of using STIR as a bench mark to assess housing affordability [...]

]]> By: Developers raise price of DBSS flats to ride on property boom : The Temasek Review http://www.temasekreview.com/2009/09/03/drawbacks-of-using-stir-by-hdb-to-assess-public-housing-affordability/comment-page-1/#comment-25411 Developers raise price of DBSS flats to ride on property boom : The Temasek Review Sat, 05 Sep 2009 01:52:39 +0000 http://temasekreview.com/?p=12832#comment-25411 [...] >> Drawbacks of using STIR as a bench mark to assess housing affordability [...] [...] >> Drawbacks of using STIR as a bench mark to assess housing affordability [...]

]]> By: Concerned Singaporeans start online petition to government to lower HDB valuations : The Temasek Review http://www.temasekreview.com/2009/09/03/drawbacks-of-using-stir-by-hdb-to-assess-public-housing-affordability/comment-page-1/#comment-25405 Concerned Singaporeans start online petition to government to lower HDB valuations : The Temasek Review Sat, 05 Sep 2009 00:40:28 +0000 http://temasekreview.com/?p=12832#comment-25405 [...] >> Drawbacks of using STIR as a bench mark to assess housing affordability [...] [...] >> Drawbacks of using STIR as a bench mark to assess housing affordability [...]

]]> By: FPC http://www.temasekreview.com/2009/09/03/drawbacks-of-using-stir-by-hdb-to-assess-public-housing-affordability/comment-page-1/#comment-25345 FPC Fri, 04 Sep 2009 13:03:19 +0000 http://temasekreview.com/?p=12832#comment-25345 //Sianz The trick of the govt is this: 1. it may be true that we are only using 20++% to pay for the mortage for the new loans. (i.e. for the young couples), however, the monies that effectively went to govt is more than 20++% because some parts went to fund the medical and special account. 2. then when these couple grow old, they suddenly realise that they have to put cash into the system because the rules, they have made regarding the allocation rates to the other accounts such as special and medical. the number looks normal for a young couple, but there is a time bomb implanted in the contract. Such is the evilness of our govt. They are damn good at making things look good when it is actually poison that they are handling us. Does a really rich country needs to do that? //Sianz

The trick of the govt is this:

1. it may be true that we are only using 20++% to pay for the mortage for the new loans. (i.e. for the young couples), however, the monies that effectively went to govt is more than 20++% because some parts went to fund the medical and special account.

2. then when these couple grow old, they suddenly realise that they have to put cash into the system because the rules, they have made regarding the allocation rates to the other accounts such as special and medical.

the number looks normal for a young couple, but there is a time bomb implanted in the contract.

Such is the evilness of our govt.

They are damn good at making things look good when it is actually poison that they are handling us.

Does a really rich country needs to do that?

]]> By: The Singapore Daily » Blog Archive » Daily SG: 4 Sep 2009 http://www.temasekreview.com/2009/09/03/drawbacks-of-using-stir-by-hdb-to-assess-public-housing-affordability/comment-page-1/#comment-25214 The Singapore Daily » Blog Archive » Daily SG: 4 Sep 2009 Fri, 04 Sep 2009 03:32:19 +0000 http://temasekreview.com/?p=12832#comment-25214 [...] - The Temasek Review: Drawbacks of HDB using STIR benchmark of 30 per cent to assess public housing affordability - Ian On The Red Dot: Stop Complaining - HDB Is Cheap and Affordable - Singapore Watch: Let Singles [...] [...] – The Temasek Review: Drawbacks of HDB using STIR benchmark of 30 per cent to assess public housing affordability – Ian On The Red Dot: Stop Complaining – HDB Is Cheap and Affordable – Singapore Watch: Let Singles [...]

]]> By: Sianz http://www.temasekreview.com/2009/09/03/drawbacks-of-using-stir-by-hdb-to-assess-public-housing-affordability/comment-page-1/#comment-25192 Sianz Fri, 04 Sep 2009 02:19:32 +0000 http://temasekreview.com/?p=12832#comment-25192 Hi Eugene, The HDB guy was saying that based on STIR, Singaporeans were paying 21-25% of their monthly income as compared to international benchmark of 30%. He never really elaborate more. Could this disparity be due to the number of repayment years? Generally speaking, HDB flats generally needs a 30 yrs repayment period to finance the loan. What about the international benchmark? What if the number of repayment years is entirely different? The end results will be totally different! Hi Eugene,

The HDB guy was saying that based on STIR, Singaporeans were paying 21-25% of their monthly income as compared to international benchmark of 30%. He never really elaborate more.
Could this disparity be due to the number of repayment years? Generally speaking, HDB flats generally needs a 30 yrs repayment period to finance the loan. What about the international benchmark? What if the number of repayment years is entirely different? The end results will be totally different!

]]> By: lasersharp http://www.temasekreview.com/2009/09/03/drawbacks-of-using-stir-by-hdb-to-assess-public-housing-affordability/comment-page-1/#comment-25147 lasersharp Thu, 03 Sep 2009 16:12:37 +0000 http://temasekreview.com/?p=12832#comment-25147 The good minister says market is getting hot.. DEFINITE POSSIBILITY that mode lands will be released. Tell me what does that mean by a Definite Possibility? Is it definite or is it possible? What cork is this? The good minister says market is getting hot.. DEFINITE POSSIBILITY that mode lands will be released. Tell me what does that mean by a Definite Possibility? Is it definite or is it possible? What cork is this?

]]> By: cy http://www.temasekreview.com/2009/09/03/drawbacks-of-using-stir-by-hdb-to-assess-public-housing-affordability/comment-page-1/#comment-25099 cy Thu, 03 Sep 2009 11:32:32 +0000 http://temasekreview.com/?p=12832#comment-25099 long term inflation should be around 1-3%, last year was an anomaly and should not be used to justify a 4-6 % inflation rate. inflation with also vary from person to person depending on lifestyle but generally 1-3% is a good long term estimate, unless sing dollar depreciates severely. as for wage increase, it varies from person to person, some may have wage increase outpacing inflation thus have no problem financing loan, others will see inflation outpacing wage thus face problems. long term inflation should be around 1-3%, last year was an anomaly and should not be used to justify a 4-6 % inflation rate. inflation with also vary from person to person depending on lifestyle but generally 1-3% is a good long term estimate, unless sing dollar depreciates severely.

as for wage increase, it varies from person to person, some may have wage increase outpacing inflation thus have no problem financing loan, others will see inflation outpacing wage thus face problems.

]]> By: anyhowlah http://www.temasekreview.com/2009/09/03/drawbacks-of-using-stir-by-hdb-to-assess-public-housing-affordability/comment-page-1/#comment-25071 anyhowlah Thu, 03 Sep 2009 08:50:06 +0000 http://temasekreview.com/?p=12832#comment-25071 I bet HDB has already used all of the benchmarks and decided that STIR calculations will benefit them most. Typical of singapore inc style. I bet HDB has already used all of the benchmarks and decided that STIR calculations will benefit them most. Typical of singapore inc style.

]]>