REACH 420 - What are your views on how we can build a more resilient future together? How can we balance the needs and wants of today with future challenges such as climate change and an ageing population?
(SK)
16 Jan 2023 (10am - 7pm)
REACH
[9:51 am, 16/01/2023] +REACH: Dear contributors,
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[10:01 am, 16/01/2023] +REACH: 📢 Topic 📢
Minister for National Development Desmond Lee said policymakers have to make difficult choices between the needs and wants of today, and setting aside enough space and resources to meet the uncertain challenges of tomorrow, speaking at the St Gallen Symposium Singapore Forum 2023 on 13 Jan (Fri).
Speaking about how cities deal with current challenges while setting the path for a more resilient future, Mr Lee also set out the protection of state reserves as another critical principle which paid off when the reserves were used to tide the country over the Covid-19 pandemic.
💬 What are your views on how we can build a more resilient future together? How can we balance the needs and wants of today with future challenges such as climate change and an ageing population?
Mr Lee added that “it is a principle that we must continue to uphold, especially as we head into a future fraught with challenges such as climate change and greater geopolitical uncertainty.” On climate change, Mr Lee emphasized Singapore's national targets to achieve net-zero emissions by 2050, and investments in coastal protection, all of which would require reserves.
Providing and caring for senior citizens is another aspect of the intergenerational compact, Mr Lee noted, adding that the Government has set aside funds to support particular generations of older Singaporeans to avoid burdening future generations, and initiating new models of public housing for seniors, such as community care apartments.
On housing, Mr Lee also said the Government is watching the property market carefully and is “not afraid to take the appropriate measures”. He noted separately that while price growth in both the private and Housing Board resale markets moderated in the fourth quarter of 2022 following property cooling measures, Singapore may remain vulnerable to geopolitical tensions and economic downturns overseas.
👉 https://str.sg/wFWN
👉 https://str.sg/wFMq
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[11:01 am, 16/01/2023] ☸️ Danny 心:
SERs and VERs (Part 1 - Vision to uplift 90% of population dwelling in HDB)
12 Jan 2023
1. 90% of Singapore population mainly made up of low and middle income group live in HDB flats.
And their wealth assets are predominantly lock up in their HDB flats that they may have paid up after 20 years (with little liquid assets).
2. Hence if the Government is to set the goal of uplifting 90% of the population - low and middle income group into a higher income group - monetising the HDB flats of these groups upon HDB flats lease decay through SERs or VERs will be the only way to achieve this goal.
This will make the 90% population happy - and further solidify the governance of the incumbent Government.
Government will also spend less in setting aside welfare benefits to help the lower and middle income groups.
3. Note that about 10% of the population live in private condo, landed properties - achieve windfall benefits from en-bloc upon the lease decay - as developers bid high price for the en-bloc as Singapore lands is a premium being a little red dot and a highly successful Economy in which properties are highly sought after assets by local and foreign investors.
The HDB dwellers are currently unhappy why SERs and VERs cannot achieve the same effect of private properties en-bloc - as the Government previously touted HDB flats - as Asset Enhancement, Wealth Enhancement - especially so for low and middle income groups in which HDB assets is their only high-valued worthy possession.
4. Accumulate wealth and uplift low and middle income group through SERs and VERs must have 3 pre-requisite to be successful :-
a. HDB owners must achieve monetary benefit from SERs and VERs exercise (just like private condo or landed properties en-bloc).
b. Government must be able to finance SERs and VERs - and this can be achieve through monetary benefits from the SERs and VERs shared with HDB owners (such as return of grants and a percentage cut from the SERs and VERs per HDB units) from renewing the 99 years lease. Government still retain control of the State Lands as HDB flats lands belong to the State.
c. Young couples without assets and have just join the workforce - must be able to afford to buy new flats or resale flats to start a family through Government grants upon rebuilding via SERs or VERs - as the flats rebuild through SERs and VERs will like see a price hike.
These 3 pre-requisites look like 3 opposing states that cannot be achieve together - can be achieve if it is done creatively (similar to quantum mechanics of qbits and superposition through quantum entanglement of 4 opposing states 00, 11, 10, 01).
5. If this goal of uplifting the 90% of population through SERs and VERs is attained - a true "Wealth Transfer" to resolve "Income, Social Class Inequality" in Singapore will be achieved.
[11:01 am, 16/01/2023] ☸️ Danny 心:
SERs and VERs (Part 2 - Monetising SERs and VERs)
12 Jan 2023
1. SERs and VERs must achieve 3 objectives :-
a. Monetise HDB flats upon lease decay - with monetary benefits to HDB owners.
b. Government must be able to finance SERs and VERs - and in fact reap monetary returns to ensure healthy fiscal budget and accumulate reserves.
c. Young couples must not lose out as HDB flat price increases as a result of SERs and VERs due to high price payout to HDB owners and contribution to Government revenue.
(This will attain the overall mission of "Asset Enhancement and Wealth Transfer" to HDB dwellers that are made up low and middle income groups.)
2. To achieve all these 3 objectives, let us explore how SERs and VERs can be carried out. Specifically VERs (that are similar to private enbloc - where house owners need to vote above 75% to grant en-bloc).
a. Upon lease decay before 99 years, with successful vote to VERs, plot of land are enbloc under 2 options:-
i. Government based on market valuation by independent market valuers determine the price of the plot of land - will then pay each HDB owners according to the land price valuation.
ii. Invite private developers BTO to bid for the land price for rebuilding and successful bidders pay each HDB owners according to the successful bid price.
(Note:- Both options achieve the same effect of private enbloc - and will achieve 2 SERs and VERs objectives :-
a. HDB owners will reap the enbloc SERS and VERS monetary payout by either the Government or the BTO private developers.
b. Government will take back the government grants of these HDB owners plus take a percentage cut (eg. 5% to 10% of the monetary payout from each HDB owners)
3. a. HDB owners will then buy or lease another HDB flats (usually at a lower price) to stay for their remaining lives and save their remaining SERs and VERs payout - and achieve increase in wealth.
b. Government does not have to fork out additional money from its fiscal budget or dig into reserves to finance SERS and VERS - and in fact earn revenue through return of HDB grants as well as percentage cut payout from each HDB owners from SERS and VERS.
c. Then how to keep renew HDB flats under SERS and VERS price affordable to young couples as well as older couples who have sold their flats under SERS and VERs - as well as how to make SERS and VERS profitable for BTO developers to take up the project?
i. Most HDB flats lease coming to 99 years are 15 floor flat.
With height restriction removed (eg. Paya Lebar airport move to Tengah) - most flats can be build more than 15 floor - which in fact can be built up to 30 floor.
This means the foot fall for the same plot size of lands - can build double the amount of flat units -- and can make the higher payout of enbloc profitable for BTO developers.
ii. BTO developers can sell twice amount of flat units in the same footfall land area. When this happen, the flats can be price at affordable level - without greatly impacting young couples who are buying the new flats from SERs and VERs.
This will help to achieve the 3rd objectives of SERS and VERS - keeping the flats affordable to young couples despite doing SERS and VERS in mature estate upon lease decay. Although the price could be higher, Government can help by giving more grants to the young couples to own the flat.
4. Now the above proposal will resolve the 1st generation 1960s 99 years lease problem for at least the 1st 100 years of lease decay problem.
5. The only headache will be the next 100 years when the next wave experience the same lease decay after 99 years -- because 30 floor flats is the maximum height limit achievable.
We can't use the same idea to build a 60 floor flats to solve the problems and achieving the same 3 objectives.
Will have to wait for another Enlightened One - to come up with another Quantum ideas to resolve the next 100 year lease decay......
6. But as of now, the Government will have make all Singaporeans rich - not only the 10% private property owners from private enbloc who are from high income group but also the 90% public flat dwellers that made up of low and middle income group.
The Government will have succeeded to uplift the whole current generation of Singaporeans from low, middle and upper income group - with 1 big swop through the SERS and VERS.
（九品莲花生 - 9 realms of upper-upper, middle-upper, lower-uppler; upper-middle, middle-middle, lower-middle; upper-lower, middle-lower, lower-lower; income groups)
[11:55 am, 16/01/2023] +Shaun: 3ii) BTO developers can sell twice the amount of flat in same footfall without greatly impacting price for next buyers of the enbloc BTO...
1. Developers enbloc to earn money, they are a business. Paying the residents to cash out need to be viable as a business eg. Selling at higher after deducting their demolition, marketing and construction cost.
2. "Enblocing / SERs VERs" has costs like demolition, possibly more piling if needed to accommodate taller buildings. This will increase and make the next buyers of this "new BTO" have much higher purchase prices.
Therefore enbloc by developers would not be enticing for developers as they can use their manpower to do more profitable projects.
If developers do so then the costs would be high for the new BTO buy…
[0:12 pm, 16/01/2023] ☸️ Danny 心:
https://theindependent.sg/dropping-hdb-resale-flat-prices-contradicts-lee-kuan-yews-promise-that-the-value-of-homes-will-never-go-down/
Dropping HDB resale flat prices contradicts Lee Kuan Yew’s promise that the value of homes “will never go down!”
[0:14 pm, 16/01/2023] ☸️ Danny 心:
6. Government don't have to spend a single cents on Vers and SERs.
[0:18 pm, 16/01/2023] ☸️ Danny 心:
Not suggesting gov to bail Singaporeans like "kids" - because we have already fully paid up the whole flat.
The whole concept is about asset enhancement and monetising our housing assets
[0:19 pm, 16/01/2023] ☸️ Danny 心:
No contradiction of hardworking or meritocracy.
[0:21 pm, 16/01/2023] ☸️ Danny 心:
Most people has been working hard enough to fully pay up the house.
[0:21 pm, 16/01/2023] +Jimmy Chew: Where does all the profit of these new flats and acquisitions go?
[0:21 pm, 16/01/2023] +Jimmy Chew: How come private developers gain and HDB lost is there a missing element?
[0:22 pm, 16/01/2023] +Jimmy Chew: Maybe LKY promises were hollow. No offense to him
[0:24 pm, 16/01/2023] +Jimmy Chew: Why?
[0:24 pm, 16/01/2023] +Jimmy Chew: Maybe get Elon to look into it
[0:25 pm, 16/01/2023] +Rama: 😳😁🤷♂️
[0:25 pm, 16/01/2023] ☸️ Danny 心:
My suggestion that social inequality is not ok - but you think otherwise.
China can uplift 300 million citizens in a decade.
Likewise I think Singapore can uplift 90% of our population in monetising their HDB flats.
[0:25 pm, 16/01/2023] +Jimmy Chew: Like NASA many years over budget. Elon make space travel affordable
[0:26 pm, 16/01/2023] +Shaun: Whatever Mr LKY said was before DPM Wong said HDB value will be 0 at the end of 99
[0:26 pm, 16/01/2023] +Jimmy Chew: Yeah like they changed clauses in the insurance packages you buy haha
[0:27 pm, 16/01/2023] +Jimmy Chew: Like the Americans senators
[0:27 pm, 16/01/2023] +Shaun: uplifting is through China's hard work blood and sweat, not bailouts for agreed terms
[0:27 pm, 16/01/2023] ☸️ Danny 心:
So you suggest that HDB owners reset their asset wealth to zero is ok.
And exacerbating a wide social inequality?
[0:27 pm, 16/01/2023] +Shaun: The "clause" HDB price will appreciate is not in the contract you sign
[0:28 pm, 16/01/2023] ☸️ Danny 心:
Can read properly the whole text and see where is the bail out?
[0:28 pm, 16/01/2023] +Shaun: Done.
[0:28 pm, 16/01/2023] ☸️ Danny 心:
So you have problem understanding what is written?
[0:29 pm, 16/01/2023] +Shaun: It's not about resetting wealth. HDB 99 years is enough for you to stay when you buy eg. At 21 years you BTO... You have 99 years on completion. You can stay till you are well over 100 years old
[0:29 pm, 16/01/2023] +Jimmy Chew: So Singapore has to wake up. When they promise you, they can change
[0:30 pm, 16/01/2023] +Shaun: It's is a public housing mode to stay not to make profit. Singapore has to realise this.
[0:30 pm, 16/01/2023] ☸️ Danny 心:
I think you fail to understand the substance of the whole text .
[0:30 pm, 16/01/2023] +Jimmy Chew: Just live with it
[0:30 pm, 16/01/2023] +Jimmy Chew: This is basically say one thing and do another
[0:31 pm, 16/01/2023] +Shaun: There is the HDB contract you sign. It doesn't say you will make money. It doesn't say you will have a goverment plan to buy it back. It does say at the end of 99 years the lease ends.
[0:31 pm, 16/01/2023] +Shaun: I think you don't understand my point too😁 it's okay
[0:31 pm, 16/01/2023] +Jimmy Chew: Agree agree. I am referring to a different contract
[0:34 pm, 16/01/2023] +Jimmy Chew: On another note, Not sure if the government would like to look into employment contracts that says terms can change according to the discretion of the employer
[0:35 pm, 16/01/2023] +Rama: Law must only allow via mutual consent with consultation from unions
[0:35 pm, 16/01/2023] +Jimmy Chew: Didn't say in writing
[0:35 pm, 16/01/2023] +Jimmy Chew: It's absolute
[0:36 pm, 16/01/2023] +Rama: Should be in writing compulsory
[0:36 pm, 16/01/2023] +Jimmy Chew: There is a societal contract with the party that rules. You break it, it has repercussions
[0:36 pm, 16/01/2023] +Jimmy Chew: Don't have
[0:37 pm, 16/01/2023] +Rama: Case studies must be made public to ensure transparency
[0:38 pm, 16/01/2023] +Jimmy Chew: There are newspaper articles of benefits to own a flat. Now they're saying it's rented
[0:38 pm, 16/01/2023] +Rama: 😳🤦♂️
[0:39 pm, 16/01/2023] +Ken: Lol… that’s the true no? 99 stated from start mah…
[0:40 pm, 16/01/2023] +Jimmy Chew: Yeah agree so someone is pedalling Snake oil. like FTX
[0:40 pm, 16/01/2023] +Ken: Your prefer house price keep going up… or lower so our kids can buy? 😂
[0:41 pm, 16/01/2023] +Ken: Either way haves it’s consequence
[0:41 pm, 16/01/2023] +Ken: Errr not snail oil… already tell you just how they package it… if not who will spend a lifetime savings to buy?
[0:42 pm, 16/01/2023] +Ken: They try to help by subsiding the purchase… for those that can’t really afford
[0:42 pm, 16/01/2023] +Jimmy Chew: I am sure our cohort of leaders will come out with a new and innovative solution. Like what they did for COVID. If not why get so much in return
[0:43 pm, 16/01/2023] +Jimmy Chew: CEO who join corporation and cut cost and retrench staff are CEO in name.
[0:43 pm, 16/01/2023] +Jimmy Chew: All they care is the money 💰
[0:44 pm, 16/01/2023] +Rama: Yes
[0:44 pm, 16/01/2023] +Rama: Agree
[0:44 pm, 16/01/2023] +Jimmy Chew: Who don't know how to do it. Raise prices and cut cost
[0:45 pm, 16/01/2023] +Ken: Lol please be CEO… thank you.. raise pay and don’t rise price… hope company can survive
[0:46 pm, 16/01/2023] +Frankie Wee: Struck it give out more subsidies housing grant but ppl won’t sell they are fear of return housing grant too high and less profit or get nothing profit either to stay longer unit 99 year become zero value
[0:47 pm, 16/01/2023] +Ken: Trimming is part of MNC, way of cutting cost… it is just business.. even company that earn and never lose.. will trim to lose people that are not profitable to be competitive for overall business health.
[0:47 pm, 16/01/2023] +Ken: Some lose job or all lose job you make the call
[0:48 pm, 16/01/2023] +Ken: Happy with the pay… but not happy with how they operate then move on…
No one force you to be loyal. It is business.
[0:51 pm, 16/01/2023] +Jimmy Chew: I do that at home
[0:51 pm, 16/01/2023] +Rama: 😁
[0:51 pm, 16/01/2023] +Jimmy Chew: Haha all governments agencies are just business
[0:53 pm, 16/01/2023] ☸️ Danny 心:
1. My suggestion is trying to fulfil Mr LKY promise - HDB assets value will never go down and can be monetize.
2. Government don't have to pay a single cents for the Vers and SERs but in fact grant return and a percentage cut from the SERs and VERs.
(There is no issue of bailout by government).
3. Bto developers can build 100% more flats by doubling the floors and units sold - potentially able to make a profit with slightly higher price flats.
4. Owners reaping benefits from SERs and VERs will have no grants from government.
5. But young couples without the benefits if SERs and VERs should receive higher grants to cover the higher flat prices.
[0:53 pm, 16/01/2023] +Ken: Lol government different mah
[0:53 pm, 16/01/2023] +Jimmy Chew: Yeah HDB is private or government?
[0:54 pm, 16/01/2023] +Jimmy Chew: I am All for paying leaders top pay and they need to perform
[0:54 pm, 16/01/2023] +Rama: Do they!?
[0:55 pm, 16/01/2023] +Jimmy Chew: Haha my union does. Do what they say
[0:56 pm, 16/01/2023] +Rama: But not across the board!
[0:56 pm, 16/01/2023] +Jimmy Chew: Haha I shared I not a we
[0:58 pm, 16/01/2023] +Jimmy Chew: A man's word is his honor. If you say and don't deliver. No trust
[0:58 pm, 16/01/2023] +Jimmy Chew: No trust. No power
[0:58 pm, 16/01/2023] +Rama: Not politicians!
[0:59 pm, 16/01/2023] Jimmy Chew: Not all
[1:00 pm, 16/01/2023] +Jimmy Chew: Some are good ones. renowned one is LKY
[1:00 pm, 16/01/2023] +Jimmy Chew: Except for his housing policy
[1:00 pm, 16/01/2023] +Rama: So say LW/KBW!
[1:01 pm, 16/01/2023] ☸️ Danny 心:
HDB flat is not just a shelter - but an appreciating asset that can be monetise.
My suggestion is to fulfill Mr LKY promise.
[1:01 pm, 16/01/2023] +Rama: Concur
[1:06 pm, 16/01/2023] ☸️ Danny 心:
Assets enhancements is the government social responsibility!
A promise!
And my suggestions help the government to fulfill this Social Responsibility!
Wonder which part of my text say is a "bailout"?
In fact my suggestions has 4 gains:-
1. Fulfill Mr LKY promise
2. HDB owners monetise their HDB assets
3. Government gain return from grants and percentage cut. Government retain land as state lands.
4. BTO developers can sell at profit.
5. Young couples get more grants from government for higher price flats.
Grants can be returned upon SERs and VERs.
[1:08 pm, 16/01/2023] ☸️ Danny 心:
HDB flats values is indeed appreciating by leaps and bounds.
Now is how to monetize them through SERs and VERs and make 85% to 90% population benefits from the HDB they have worked hard with fully paid up capital by monetising them - and resolve the social inequality issue.
[1:18 pm, 16/01/2023] +Jimmy Chew: Don't have to be much but sufficient to maintain dignity and care for the seniors.
[1:18 pm, 16/01/2023] +Rama: Yes
[1:19 pm, 16/01/2023] +Jimmy Chew: If they don't SERS or VERs it's not a problem. This is because of SERS and it's commercial benefit that's why they SERS
[1:20 pm, 16/01/2023] +Jimmy Chew: Oops I forgot MacPherson estate reaching zero hahaha
[1:21 pm, 16/01/2023] +Jimmy Chew: How?
[1:21 pm, 16/01/2023] +Jimmy Chew: Hmmm. Why we pay so much to the leadership and innovative solutions?
[1:22 pm, 16/01/2023] +Jimmy Chew: Leadership means all involved not only the MPs
[1:22 pm, 16/01/2023] +Rama: 😳🤦♂️
[1:22 pm, 16/01/2023] +Jimmy Chew: Sorry. You did this twice. What does it mean?
[1:24 pm, 16/01/2023] +Jimmy Chew: Government sleeping as in the whole administration
[1:31 pm, 16/01/2023] ☸️ Danny 心:
1. Building community care apartments for elderly is a good concept by the government - as elderly can benefit from the facilities suitable for the elderly.
2. Upon SERs or Vers, elderly will reap the monetizes values.
3. Elderly can then apply for these community care apartments without government grants.
4. Rebuilding through SERs or Vers will then be free up for young couples.
5. This is how decay lease are recycled in a sustainable manner.
[1:34 pm, 16/01/2023] ☸️ Danny 心:
6. Note elderly runway are short - hence community care apartments are more suitable for the elderly.
7. Also lease decay can be appropriately recycled to be rebuilt for young couples - while monetising money for older HDB owners for decay lease.
8. 5 wins for the government and the citizens.
Win-win-win-win-win.
[1:35 pm, 16/01/2023] +Rama: As DPM LW said recently, this concept will not be possible all over the country due to competing use of limited land.
[1:36 pm, 16/01/2023] ☸️ Danny 心:
If HDB flats are properly recycled when the lease decay, there is no issue of limited lands - as 99 years flats are knocked down and rebuilt.
[1:37 pm, 16/01/2023] +KL: Frankly those live in landed should not comment on how hdb land use .
[1:37 pm, 16/01/2023] +KL: As this topic hurt a majority of Singaporean hope this all suggesting in this topic should double check before implement
[1:37 pm, 16/01/2023] ☸️ Danny 心:
Now many HDB flats are already at the half way mark - about 50 years already.
[1:38 pm, 16/01/2023] +KL: if They comment than I should comment why need freehold
[1:39 pm, 16/01/2023] +KL: should give buy back all land when price crash like how they did to Marymount Terrance and recover all freehold land
[1:40 pm, 16/01/2023] ☸️ Danny 心:
No need to stereotypes.
Doesn't means that people living in private and landed freehold don't look into the needs of the HDB dwellers or the lower income folks.
[1:41 pm, 16/01/2023] +Rama: Agree
[1:41 pm, 16/01/2023] +Rama: Yes
[1:41 pm, 16/01/2023] +KL: If not we do a sg election see if how many will vote :)) haha
[1:41 pm, 16/01/2023] ☸️ Danny 心:
It is all in a person's heart.
[1:41 pm, 16/01/2023] +KL: on recover all land in sg
[1:41 pm, 16/01/2023] +Rama: Unless they permanently switch to public housing ownership only!
[1:42 pm, 16/01/2023] +KL: I only ask not to comment ageee got big reaction
[1:42 pm, 16/01/2023] +KL: not even action
[1:43 pm, 16/01/2023] +KL: All freehold land *
[1:47 pm, 16/01/2023] +Jimmy Chew: I feel all opinions are welcome. Freehold When they grow old will need to stay in care center or HDB. Like someone says no one looks after you. So like they say in the army "Wake up your idea!"
[1:47 pm, 16/01/2023] ☸️ Danny 心:
9. As older HDB owners monetise their HDB flats through SERs or Vers, they will have a "ready cash" at hands.
10. This solve the money that the government need to set aside for elderly - solving government headache of setting aside funds for aging population.
[1:48 pm, 16/01/2023] +Jimmy Chew: Those who bought freehold cleverer than those who believe government and bought HDB
[1:48 pm, 16/01/2023] +Jimmy Chew: I enjoy the dialogue. the leadership will have to solve the issues. I don't have the brain juice to solve it
[1:52 pm, 16/01/2023] ☸️ Danny 心:
11. Hence through SERs and VERs, the government don't need to dig into reserves to:-
a. "Bailout" HDB owners when lease decay.
b. No need to set aside fund for aging population - as old HDB owners are monetising their asset through enbloc.
c. Government can then concentrate its budget and use reserves if absolutely necessary to fund the climate change project to protect the population from rising sea levels and other menace.
[1:56 pm, 16/01/2023] ☸️ Danny 心:
12. That's when people are poor - people will need government help.
13. By uplifting the 90% HDB owners through monetize SERs and VERs - government can afford to do less financial help - as people are rich enough to take care of their financial needs.
So with this wisdom, how will it contradict the issue of solving:-
a. Income and social inequality
b. Meritocracy
c. Hardworking
[1:58 pm, 16/01/2023] +RH: My problem w the planning of housing is tt oftentimes, the new housing is not spread out evenly across the island. Mostly located in the North or in the West or NW part ... is ther no land suitable / available in the East (wher I live)? Or are all the land in the East only avail for sale to pte developers to make more $$ for gov to build somewhere else? Since I hv lived in the East for most part of my life, do u expect me to move to the North or West in my twilight years? I m eyeing retirement homes like the ones mentioned but so far, they can only be found in areas like Bkt Batok ... totally unfamiliar w the environment ther & no family!
[1:59 pm, 16/01/2023] +REACH: 📢 Topic 📢
Minister for National Development Desmond Lee said policymakers have to make difficult choices between the needs and wants of today, and setting aside enough space and resources to meet the uncertain challenges of tomorrow, speaking at the St Gallen Symposium Singapore Forum 2023 on 13 Jan (Fri).
Speaking about how cities deal with current challenges while setting the path for a more resilient future, Mr Lee also set out the protection of state reserves as another critical principle which paid off when the reserves were used to tide the country over the Covid-19 pandemic.
💬 What are your views on how we can build a more resilient future together? How can we balance the needs and wants of today with future challenges such as climate change an…
[2:03 pm, 16/01/2023] ☸️ Danny 心: https://www.xinhuanet.com/english/2021-04/06/c_139862741.htm
How China has lifted nearly 800 mln people out of poverty
Source: Xinhua| 2021-04-06.
[2:03 pm, 16/01/2023] +RH: Likewise w BTO ...
So far, only 2 I know of in the East (Tampines & Pasir Ris) tt r now catching up w building completion since pandemic ...
My son has tried applying but due to overwhelming demand, has not bn successful.
Wat is the gov doing for unsuccessful BTO applicants who hv bn rejected?
Pls dun tell them to apply somewhere else !!!
I live in the East. My son is also used to living and is now working in the East.
Wat r the gov's plans on building MORE BTO's in the East region of this island?
[2:03 pm, 16/01/2023] ☸️ Danny 心:
Not uplifting 300 million people.
It is 800 million people - almost close to a billion people.
[2:07 pm, 16/01/2023] +Smiley face: 16 January, 2023
Good afternoon everyone!
"It's all because there is a foreseeable (bright or plight) future and price of all economics are determined by interest rates...?"
- - anonymous
- - in progress - -
[2:13 pm, 16/01/2023] Smiley face: Three variables:
All sorts of new tech/ inventions, new developments, breakthroughs must have these 3 key considerations in sync!
Sustainable
Reliable
Affordable
- - in progress - -
[2:14 pm, 16/01/2023] ☸️ Danny 心:
14. In fact on the contrary, monetising SERs and VERs spur young couples to work harder to fully pay up their HDB flat through 20 years of hard work in a 20 years loan.
Because thereafter, they can reap the benefits of monetizing their HDB through SERs and VERs - to finance their retirement.
Another financial scheme on top of CPF retirement Life scheme.
15. So I am scratching my heads, how does monetizing SERs and VERs - contradict hardworking, meritocracy and instead have to rely on government bailout?
Which in fact it spur young couples to work harder, reward meritocracy and contribute to government fund through return grants and percentage cut.
[2:21 pm, 16/01/2023] ☸️ Danny 心:
Definitely this is a better concept than PSP Leong proposal of selling HDB flat with no land cost - or at historical values - that will crash the whole property market - and send us back to stone age - making our wealth worth almost nothing.
[2:24 pm, 16/01/2023] +Smiley face: Reduce the repayment period to 180 months.
Why 180 months?
For all goodness, just in case things happen during this long period of time.
Two, policymakers have indepth of individuals budget aka disposable incomes to calibrate even affordable prices to fit millions of pockets.
Three, is it that simple or a highly complex social/political issue to solve, in this case public flats?
- - in progress - -
[2:26 pm, 16/01/2023] +Smiley face: Historical values. are meant for reference and benchmarking.
All things evolve, that's growth or unless digress?
- - in progress - -
[2:28 pm, 16/01/2023] +TD: Wouldn't this proposed monetization - Cash injection by the G just Exacerbate housing Prices and inflation even more out of control?
We already have 4 room flats in Ajunied asking for close to 1M in selling price.
PSP Leong's proposals might not be fully thought out, but bringing a leveling effect to the Property market should not be scoffed at.
Uncontrolled asset pumping like what you're proposing is likely to lead to HongKong level housing prices. I dont think that is something Any Singaporean would want to see.
[2:29 pm, 16/01/2023] +KL: Hi TD , u are right . I think they Need to determine what is local population first if not very hard to resolve .
[2:29 pm, 16/01/2023] ☸️ Danny 心:
Government not injecting funds.
Lease decay, rebuild.
Just like private enbloc.
Lease decay, rebuild.
[2:30 pm, 16/01/2023] +TD: Need to let the lease decay to Nothing. Else it's effectively an Injection
Not sure if you'll agree with this.
[2:30 pm, 16/01/2023] +Smiley face: Historical?
1950s, the world population was 2.5+ billions
2022, the world population was 8.0+ billions
By 2050, the world population will reach 10 billions
So how about sustainability, prices and values of all things?
Would it go up or not so much?
[2:30 pm, 16/01/2023] ☸️ Danny 心:
Land price is based on market valuation, not artificial prop up of prices.
[2:30 pm, 16/01/2023] +Smiley face: Utilisation and economic growth!
[2:31 pm, 16/01/2023] ☸️ Danny 心:
Land price cannot be zero even at 99 years.
[2:31 pm, 16/01/2023] +TD: Uncontrolled market pricing is Scary.
[2:31 pm, 16/01/2023] TD: is Zero. Same like everywhere else. You own the flat, not the land it's built on.
[2:32 pm, 16/01/2023] ☸️ Danny 心:
Flat lease decay yes.
That's why when psp Leong say land price zero, the land valuation is worth zero.
Total asset destruction.
Wrong economic principle.
[2:32 pm, 16/01/2023] +Smiley face: The ecosystem of valuation, this case is about dwellings.
Includes law and order, amenities, facilities and future potentials of a nation?
[2:32 pm, 16/01/2023] +TD: This point I agree. Got to be a better way of doing this though.
[2:33 pm, 16/01/2023] +TD: The housing prices for Resale is out of control.
[2:33 pm, 16/01/2023] +Rama: Agree
[2:34 pm, 16/01/2023] +KL: Then why my ns only 450 not accordinly to market value:)) can’t be thing benefit to you u say market value. NS is minimal paid Ah :(
[2:34 pm, 16/01/2023] +TD Reservist is Market Value =P
[2:34 pm, 16/01/2023] ☸️ Danny 心:
That's why, private condo lease 99 years expires, but when enbloc, get higher valuation because developer renew the 99 years lease.
Same concept for SERs and VERs.
That's what Mr LKY promise means.
Unless Singapore go into war, then the lands become worthless.
[2:35 pm, 16/01/2023] +KL: Why foreigner ( Malaysian Chinese get EP ) where we need serve army ?
[2:35 pm, 16/01/2023] +KL: Etc
[2:35 pm, 16/01/2023] +Smiley face: Creating values or less valuable or no value at all?
Let's do a comparative economics analysis of
the top 10
the mid 10
the bottom 10
Which one is worth living, raising a family and working in?
[2:35 pm, 16/01/2023] +Rama: Mid 10 for me
[2:36 pm, 16/01/2023] +Smiley face: Hi KL, good afternoon!
Good comparative analysis....
Any idea to LEVEL things up? This NS thingie?
Thank you!
[2:37 pm, 16/01/2023] +KL: Frankly I got but I understand once why out ppl will say brain drain cos it impact sme benefits
[2:37 pm, 16/01/2023] +Smiley face: Lao Tzu's way!
Hi Andrew and good afternoon to you too!
Thank you!
[2:37 pm, 16/01/2023] +Smiley face: Pls share and we all learn from one another... thanks
[2:38 pm, 16/01/2023] +KL: Housing not hard to resolve once define what is local population but will took 10-20 years
[2:39 pm, 16/01/2023] +Rama: Likewise
[2:45 pm, 16/01/2023] ☸️ Danny 心:
Eg. When we bought our flat 50 years ago, each flat is $160,000.
After 50 years old, my flat now worth $600,000 not $35,000 even though the lease decay for 50 years already.
Reason, the land price valuation has gone up about 6 times.
Hence, our flat values cannot be zero.
This is the right economic principle.
PSP Leong will damn our flat values to $35,000 as lease decay because the land price valuation is zero.
[2:46 pm, 16/01/2023] +TD: You dont own the land
[2:46 pm, 16/01/2023] +Smiley face: 16 January, 2023
Metaphorical story:
A highly successful mountaineer climbed and claimed global fame by conquering Everest for 8 times!
At the end of his eighth success, he looked down from the peak. Suddenly, he realized (woke up) that it will be all the "way down the hill" for him!
Why so?
Is there an even higher mountain to climb and all his life he spent on this sacred peak to challenge all the extremes and to the billions of ordinary people that's a fantastic mission impossible too!
Lessons:
Extreme yield no exit, all things evolve (changing) and never last a man's lifetime!
How can one reflects this story into one's life journey?
- - in progress - -
[2:47 pm, 16/01/2023] ☸️ Danny 心:
Agree, but we still can sell our flat at $600,000 after 50 years.
[2:47 pm, 16/01/2023] ☸️ Danny 心:
Not $35,000 after 50 years.
[2:47 pm, 16/01/2023] +Smiley face: It doesn't matter, use the land to the fullest during your occupation of this land?
Is it about utility?
[2:48 pm, 16/01/2023] +Smiley face: Value, or valuable or no more value?
Thanks!
[2:48 pm, 16/01/2023] +TD: True. Given inflation and population growth, thats normal
But after 70 years it will be 300k and 99 years it will be zero
[2:49 pm, 16/01/2023] ☸️ Danny 心:
That's why SERs and VERs need to kick in to ensure Asset enhancement - as Mr LKY promise.
[2:49 pm, 16/01/2023] +TD: You're tying asset growth via demand and speculation to land price which is not factual.
Yes, PSP Leong's proposal is.... leaky. But Controlling housing price inflation is not a bad thing
[2:49 pm, 16/01/2023] +TD: Only for Singaporeans.
[2:50 pm, 16/01/2023] ☸️ Danny 心:
I am happy that you agree with me.
[2:50 pm, 16/01/2023] +TD: And to be honest, I dont think we have the capacity to SERS/VERS everything at the same lease decay rate.
I know of at least 2 large HDB contractors who are scaling down.
[2:51 pm, 16/01/2023] ☸️ Danny 心:
Well government will have to think of creative ways to solve the issue.
[2:51 pm, 16/01/2023] +Smiley face: "If life is a long journey, then success or failure is not a stop, it is a moment of joyfulness, a blip, or a long period of sadness. Life itself is an infinite route that needs to continue and move on".
- - anonymous
"如果人生是一段漫长途行，那么成功或失败都不是一个停顿，而是一时的欢喜或一生的悲伤。人生本身就是一条无限的路线，需要继续前行”。
- - 无名
[2:51 pm, 16/01/2023] +TD: 75%. 😁 It's always the details
[2:52 pm, 16/01/2023] +TD: I get scared everytime I hear a scholar say this in a meeting....
[2:52 pm, 16/01/2023] +Smiley face: "Deficits do not in themselves produce inflation, nor does a balanced budget assure a stable price level."
- - William Spencer Vickrey (1996 Nobel Laureate)
[2:54 pm, 16/01/2023] ☸️ Danny 心:
Nothing is impossible - as long as we do rational and logical reasoning.
Use stem - science, technology, engineering and math - to derive the solutions - with cost and benefits.
If $ and cents are inserted into my proposal above, it is a workable solutions.
[2:54 pm, 16/01/2023] +Smiley face: Fearful or fearlessness?
Is it a manifestation of one's thinking good or thinking it will be bad?
[2:55 pm, 16/01/2023] +TD: More like it's an opening statement to push shite onto the contractors.
[2:55 pm, 16/01/2023] +Shaun: SERs and VERs is not enbloc, won't be done by developers as developers are looking for profit. So it is not the same.
[2:56 pm, 16/01/2023] ☸️ Danny 心:
Developers is one option.
Another option is HDB.
[2:56 pm, 16/01/2023] +TD: Actually also built by developers. Just that they're contracted by HDB instead of building out their own land bank. Sometimes even by the same team building the condos.
[2:56 pm, 16/01/2023] ☸️ Danny 心:
In the earlier days, there are no BTO developers.
Only HDB.
[2:57 pm, 16/01/2023] +Shaun: Developers won't be a good option as it is done for profit. Then this cost is passed on to next buyers aka our children.
The HDB option won't allow the existing owners to "cash out" and make a lot of profit like they want.
[2:58 pm, 16/01/2023] +TD: I don't think HDB has a construction arm anymore. Everything is contracted out to private developers?
[2:58 pm, 16/01/2023] +Shaun: Private developers meaning MCL, CDL etc.
[2:58 pm, 16/01/2023] +Rama: Yes
[2:58 pm, 16/01/2023] ☸️ Danny 心:
That's why there will be tender to contract contractors by HDB.
[2:59 pm, 16/01/2023] +TD: A lot of these multi hat. Build HDBs and Condo's. Sometimes even the same teams.
[3:00 pm, 16/01/2023] +Shaun: Yes this is usual. However in the given statement the developers are supposed buy back at high price, tear down, develop and sell cheap? Who absorbs the cost? Government?
[3:00 pm, 16/01/2023] +Shaun: Current owners?
[3:00 pm, 16/01/2023] ☸️ Danny 心:
Market valuation.
[3:00 pm, 16/01/2023] +Shaun: Later buyers of reconstructed flats?
[3:01 pm, 16/01/2023] ☸️ Danny 心:
If insert the $ cents into the proposal - you see the answer.
Same as private enbloc
[3:02 pm, 16/01/2023] ☸️ Danny 心:
150 flats increase to 300 flats same footfall.
[3:02 pm, 16/01/2023] +Shaun: So let's say BTO originally bought for 50k. Then SERs or VERs. Your suggested developer buys and compensates for market price after 40 years. Eg. 650k
Current original owner profits 600k. The developer then tears down and rebuilds.
What is the selling price to new buyers of BTO?
[3:03 pm, 16/01/2023] ☸️ Danny 心:
Now all BTO flats sell at 400k, amk 600k to 800k?
[3:03 pm, 16/01/2023] +Kenneth Lee WM: It's quite clear the quite a big cost component of new flats is the land price. It keeps going up and never comes down as it is based on market rate.
Perhaps to keep it affordable, split the land cost up, allow the flat lessor to choose how much they want to pay for the land lease, the remaining lease is "borrowed" by a Singaporean-citizens-only fund. When flat is sold, the percentage of the unused land lease at the new market rate goes back to the fund.
As the price of land lease goes up with inflation, the returns is going to be much better than CPF LIFE etc and citizens can opt to park their spare CPF into that fund.
[3:03 pm, 16/01/2023] ☸️ Danny 心:
Young couples - higher grants.
[3:04 pm, 16/01/2023] +Shaun: So what is the selling price?
[3:04 pm, 16/01/2023] +Shaun: Example
[3:04 pm, 16/01/2023] +Shaun: Don't need exact.
[3:06 pm, 16/01/2023] ☸️ Danny 心:
Depends on market valuation - not too far off from $400 to 800k per unit.
This is the bto price charge by HDB now.
[3:09 pm, 16/01/2023] +Smiley face: So what is the DREAM price for a flat?
3 rm, 4rm and 5rm ?
What is affordable and reasonable ?
Does anyone have an idea to suggest the baseline of each flat type regardless of matured or going to mature estate?
Anyone?
[3:10 pm, 16/01/2023] +Shaun: Taking midpoint of 400 to 800k is 600k ..
HDB developer buy from owner at 650k but sell at 600k taking a loss of...
50k per unit
+ Teardown cost / per unit
+ Foundation to build twice as high /per unit
+ Construction to build twice as high /per unit
Hopefully the HDB losses it takes now can cover the costs... Without increasing losses
[3:10 pm, 16/01/2023] +Smiley face: Don't need to apply to Grant for first time buyers?
The crawl back rules remain!
What's the price?
[3:11 pm, 16/01/2023] +TD: all the way from 12K with grant to 800+K. band is too wide
[3:11 pm, 16/01/2023] +Shaun: Just take an average flat for exercise sake😁
[3:12 pm, 16/01/2023] +Smiley face: 3rm @ $150k?
4rm @ $200k?
5 rm @ $250k?
Near city starts at $450k for a 3rm and incremental?
[3:12 pm, 16/01/2023] +KL: Too low foreigner will benefit if only Singaporean a affordable simple = a median 23 years old monthly pay x30 years * 0.33 %
[3:12 pm, 16/01/2023] +KL: A 3 room ard 250,000
[3:13 pm, 16/01/2023] +Smiley face: Plus second time buyers who are upgrading will pay an excess of up to 10% of the prevailing prices ?
[3:13 pm, 16/01/2023] +KL: Cos sg a lot of new citizen thus which price is not fair value must define local population
[3:13 pm, 16/01/2023] +Smiley face: Ok $250k seems a reasonable and affordable figure?
Anyone else?
[3:14 pm, 16/01/2023] +KL: reason is median not mean ( 0.33 % like our Martage loan x max hdb Loan
[3:14 pm, 16/01/2023] +KL: period sorry my English not good :(
[3:15 pm, 16/01/2023] +KL: But it won’t work if they can’t define local population
[3:15 pm, 16/01/2023] ☸️ Danny 心:
So assume:-
1. New flats are sell at $600k after SERs - developers will earn $200k as it pay $400k to old owners.
He make $200k from old owners of 150 flats and $600k for another 150 flats because it increase from 15 floor to 30 floor after deducting building cost, demolition costs.
2. Government provide $200,000 grants to young couples. So young couples pay $400k like currently instead of $600k.
3. Old owners buy a 30 years lease flat at $150,000 and pocket $250k SERs or Vers money.
[3:15 pm, 16/01/2023] +Smiley face: What's the purpose of GRANTING or aka discount?
Affordable, don't need more discount, aka grant? Isn't it logical are there more issues?
[3:17 pm, 16/01/2023] ☸️ Danny 心:
Developers is discount.
Government is grant.
[3:17 pm, 16/01/2023] +Shaun: 200k grants? The grant now is so high? And in the case of grants someone has to pay up the money.
Be it from increasing taxes or taking from other finding like education or infrastructure budget.
So this 200k is taking from somewhere...
[3:17 pm, 16/01/2023] +Smiley face: Oh I see....
[3:18 pm, 16/01/2023] +Smiley face: Crawl back rules remain intact.
[3:19 pm, 16/01/2023] +Smiley face: Developers yield profits while Public Housings yield popularity?
True or not true?
[3:19 pm, 16/01/2023] +Rama: True for me
[3:19 pm, 16/01/2023] ☸️ Danny 心:
Government already currently paying $150k grants?
Also government get return grants from SERs and VERs and then plough back only to young couples.
Also government got a percentage cut from SERs and VERs.
[3:20 pm, 16/01/2023] Smiley face: Thanks Andrew!
It's the purpose and followed by policies?
[3:20 pm, 16/01/2023] +Rama: Definitely for me
[3:22 pm, 16/01/2023] ☸️ Danny 心:
When young couples in future do Vers and SERs, $200k grants again return to government.
So where is the bailout?
[3:22 pm, 16/01/2023] +Smiley face: Are we creating more ADMINISTRATIVE work, enforcing and works for our public services, this case...
"We discount and you buy, when you are naughty, we will crawl back the Grant given to you?
Purpose?
[3:23 pm, 16/01/2023] +Shaun: Grant 200k return to government? Grants are given to our CPF . Not return to government. It is paid back to our CPF upon sale.
[3:24 pm, 16/01/2023] +KL: To make it complex so kanna eaten also don’t know
[3:25 pm, 16/01/2023] ☸️ Danny 心:
Huh is it?
I didn't get any grant pay to my cpf.
[3:26 pm, 16/01/2023] ☸️ Danny 心:
Then 150k grant pay by government currently get from where?
[3:26 pm, 16/01/2023] +Shaun: https://www.hdb.gov.sg/about-us/news-and-publications/publications/hdbspeaks/Flat-Buyers-Keep-the-Housing-Grants-Given-to-Them#:~:text=The%20first%20%2430%2C000%20(for%20singles,Retirement%20Account%20and%20Medisave%20Account.
[3:26 pm, 16/01/2023] +Smiley face: In simple Wishful thinking, perhaps HDB flats should be more affordable than an electric car and by the end of 20 years, one will have a fatter wallet and or a bigger sum in her or his CPF ordinary account?
No opposition will win and they might as well retire from it than poking and plying up issues over issues?
What's the purpose?
[3:27 pm, 16/01/2023] +KL: Some one must be losing end but from where that why must define local :))
[3:28 pm, 16/01/2023] +Smiley face: Hi KL, we can calibrate to all citizens' benefits, that's easy-pizzy.
Thank you!
[3:29 pm, 16/01/2023] ☸️ Danny 心:
ok I may not have understand the grant because I didn't get it.
But no difference to $150k grant that the government currently pay to "all" HDB owners compare to only "young couples".
SERs and VERs owners won't receive further grants from the government.
[3:30 pm, 16/01/2023] +Shaun: Not all get 150k just like you didn't get
[3:31 pm, 16/01/2023] ☸️ Danny 心:
Yes, then it equalise the government cost out.
[3:31 pm, 16/01/2023] +Shaun: SERs and VERs definitely won't receive as they are sellong not buying
[3:31 pm, 16/01/2023] +Smiley face: Buy Low, sell Hi?
Possible and drop the grant thingie?
Possible or not a popular thingie to do?
[3:32 pm, 16/01/2023] ☸️ Danny 心:
So monetizing SERs and VERs still viable?
[3:33 pm, 16/01/2023] +Shaun: Monetizing? No.
[3:33 pm, 16/01/2023] +KL: maybe can restrict 2 PR can only purchasing hdb more 25 years old . Treat it as tax and ns :)) cos China lease is 70 so we will equal to market. It will cool market / help sg old ppl.
[3:33 pm, 16/01/2023] ☸️ Danny 心:
It is more than flat as a shelter.
It is about uplifting the 90% of the population through monetizing the HDB, fulfilling Mr LKY promise and reducing government financial assistance to lower and middle income group.
[3:33 pm, 16/01/2023] +KL: Not from Ah gong pocket
[3:34 pm, 16/01/2023] ☸️ Danny 心:
My proposal is yes
[3:34 pm, 16/01/2023] +KL: But most ppl may not love me :))
[3:34 pm, 16/01/2023] +KL: If they feel shortchange our door is always open
[3:35 pm, 16/01/2023] ☸️ Danny 心:
And my example in $ and cents shows that it is a feasible suggestions.
[3:37 pm, 16/01/2023] +Smiley face: Do a projection of cash flow.
Day 1 of lease to day 12,800 (35 years).
Put in the factors of interest rates, land cost appreciation and national household incomes at least cutting across 75% of the population to derive a FUTURE value of a type fiat from 3rm to EC.
We have the expert pool and the big data at our disposal to quantify and qualify these future quires to calibrate a sustainable outcome at every 10 years period!
It is an ecosystem (a systems dynamic approach) from the micro to the macro, what's the forecast, the blips and the demographics trend?
That's a purpose!
[3:38 pm, 16/01/2023] +Smiley face: Oops, migration trends and family size too!
[3:43 pm, 16/01/2023] +Smiley face: Private - Public:
We have many talents from the ministries to the private sectors. From bankers, to brokers, architects, to data engineers, we can derive these analytics up to 95% level of confidence!
[3:44 pm, 16/01/2023] +Smiley face: Every 10 years is about half a generation of a person's lineage?
[3:47 pm, 16/01/2023] +Smiley face: Consult indepth with former Ministers from 3 ministries, MND, MSF and MTI or a few more ?
Tape into history, the challenges and the resolved?
- - in progress - -
[3:53 pm, 16/01/2023] +Smiley face: Hi KL, thanks.
Money can be utilized but use money very wisely...?"
- - Li Kashing
[3:54 pm, 16/01/2023] +Rama: Practical words from LKS
[3:55 pm, 16/01/2023] ☸️ Danny 心:
So government can ask for grants return if old flat owners monetize their flats through SERs or Vers.
This grant can then be given to young couples.
In future, young couples will do the same.
[3:56 pm, 16/01/2023] ☸️ Danny 心:
So no lost for government in SERs and VERs.
[3:57 pm, 16/01/2023] +Joseph Yap: In view of increasing spendings on climate change and an ageing population in the future as well as to have a sustainable housing markets, Singapore’s taxation avenues have to be more diversified to tax the asset rich (private property, luxury cars) more, to allow re-distribution to the less well off and on social spendings.
[4:00 pm, 16/01/2023] +Reach: 📢 Topic 📢
Minister for National Development Desmond Lee said policymakers have to make difficult choices between the needs and wants of today, and setting aside enough space and resources to meet the uncertain challenges of tomorrow, speaking at the St Gallen Symposium Singapore Forum 2023 on 13 Jan (Fri).
Speaking about how cities deal with current challenges while setting the path for a more resilient future, Mr Lee also set out the protection of state reserves as another critical principle which paid off when the reserves were used to tide the country over the Covid-19 pandemic.
💬 What are your views on how we can build a more resilient future together? How can we balance the needs and wants of today with future challenges such as climate change an…
[4:01 pm, 16/01/2023] ☸️ Danny 心:
So in my example, if the Vers and SERs, flat owners will receive $250k minus $60 of government grants pay back to govt= $190 k monetize to old HDB owners.
[4:03 pm, 16/01/2023] +Rama: Take from Peter to pay Paul
[4:10 pm, 16/01/2023] +Smiley face: 16 January, 2023
To: Our Distinguished Leaders and All Honorable
"How to Win, Winning and Continuing the Wins?"
- - anonymous
3 Hopes and Hopefuls?
Foremost, to continue taking exceptional care of our seniors.
Why so?
If our seniors are less likely to be adequately supported till their last days. Then all eyes will learn that when they age, it will be business as usual, NOTHING more and nothing much?
Second, our working adults from the age groups of 20s to 60s. These 40 years spread of lives and livelihoods will form a big group (mid).
Third, our youngest citizens are our most valuable assets aka future human capital. We need to continuously nurture them to their best abilities regardless of one becoming a technician or a technologist!
These 3 Bi…
[4:17 pm, 16/01/2023] +Smiley face: These are transactional... thank you.
[4:17 pm, 16/01/2023] +Smiley face: Transactional too... thank you.
[4:20 pm, 16/01/2023] +Smiley face: Protecting and being prudent and smartest use of the national Kitty is FIRST Key of a FIRST WORLD GOVT! Nothing lesser. Thank you!
[5:32 pm, 16/01/2023] +REACH: Dear Contributors
We’d love to hear more from you on today’s topic 😊
We hope that we can keep the discussion related to the topic robust and active!
Megan 😊
[5:35 pm, 16/01/2023] +Jeremiah Wee: From the original design, HDB was meant to fulfil an ambitious purpose of providing both quality and low-cost housing to citizens. That seems to have been fulfilled for the first generation of flats. Along the way, we allowed CPF to be used finance their flats, and inextricably linked our reserves to home ownership. To have a home, is to have a stake in Singapore. The Singapore home has to protected in this arrangement.
On zeroing land price and only charging building cost for HDB is in direct conflict with this growing of national reserves. It is right to grow our reserves so that the nation can step in when its citizens cant fend for themselves. To keep house prices growing will be to keep the reserves growing. For home owners, growing house prices is al…
[5:59 pm, 16/01/2023] +REACH: 📢 Topic 📢
Minister for National Development Desmond Lee said policymakers have to make difficult choices between the needs and wants of today, and setting aside enough space and resources to meet the uncertain challenges of tomorrow, speaking at the St Gallen Symposium Singapore Forum 2023 on 13 Jan (Fri).
Speaking about how cities deal with current challenges while setting the path for a more resilient future, Mr Lee also set out the protection of state reserves as another critical principle which paid off when the reserves were used to tide the country over the Covid-19 pandemic.
💬 What are your views on how we can build a more resilient future together? How can we balance the needs and wants of today with future challenges such as climate change an…
[6:02 pm, 16/01/2023] +Anselm: The challenge/problem is there are competing priorities when it comes to HDB.
1. The original aims of HDB to
- provide "affordable" housing
- and "provide every citizen a stake in the country"
2. Balance the government accounts.
3. Not to price too low that it crash the market.
Frankly, something has to give way. And it seems affordability is it.
[6:10 pm, 16/01/2023] +Anselm: LKY had a vision for Singapore, and he constantly communicated it. Some disagreed, some agreed, most didn't really understand but felt it was the right direction and supported the government of the day.
in the same manner, the current & future government needs a long term vision, of what it wants Singapore to be, and how it wants Singaporeans to be part of it.
whether it is 7M or 10M population, the government needs to "sell the Singapore dream" and get the Singaporeans buy in.
The government needs to be visionary leaders and not managers for the next leg of the Singapore Story.
[6:34 pm, 16/01/2023] +Rama: Here ye!
[6:40 pm, 16/01/2023] +Smiley face: SINGAPORE has a few valuable resources...
Sea port
Air port
Land port
Human capital
Competent Governance
Thank you!
[6:41 pm, 16/01/2023] +Rama: 👌🙏👍👋🤝
[6:46 pm, 16/01/2023] +Reach: Dear Contributors,
⏰ We will be closing the chat in 15 minutes ⏰
Thank you very much for being part of our WhatsApp chat and participating actively.
Goodnight!
Megan 😊
[6:49 pm, 16/01/2023] +Smiley face: Thank you, Andrew!
Is true!
[6:49 pm, 16/01/2023] +Rama: Most welcome
[6:50 pm, 16/01/2023] +Rama: Our people are the nations greatest treasure
[6:50 pm, 16/01/2023] +Smiley face: Hi Jeremiah,
A good piece of written commentary!
Cheers!
[6:51 pm, 16/01/2023] +Smiley face: Hi Anselm,
Another good comment too!
Cheers!
[6:52 pm, 16/01/2023] +Smiley face: Bingo, you are amazingly sharp!
Cheers!
[6:52 pm, 16/01/2023] +Rama: Without natural resources, we achieve the impossible!
[6:52 pm, 16/01/2023] +Smiley face: "Geography explains the policies of all the Powers."
- - Napoleon
[6:54 pm, 16/01/2023] +Smiley face: Over the decades, we have uplifted millions of our citizens through higher education and upgrading skills set !
Not an easy task!
[6:54 pm, 16/01/2023] +Rama: A stable and forward looking government is what brought the nation thus far!
[6:55 pm, 16/01/2023] +Smiley face: ANOTHER excellent comment!
Cheers!
[6:55 pm, 16/01/2023] +Rama: Onforward to our government and nation.
[6:56 pm, 16/01/2023] +Smiley face: All of us here are exceptional citizens putting hours to chat and hopefully find solutions or better ideas!
Cheers to ALL!
[6:57 pm, 16/01/2023] +Rama: Let's look forward to a great year of the rabbit
[6:57 pm, 16/01/2023] +Smiley face: Hi Uncle Law!
[6:57 pm, 16/01/2023] +Uncle Law: Hello
[6:57 pm, 16/01/2023] +Uncle Law: Busy tdy
[6:57 pm, 16/01/2023] +Uncle Law: Sry
[6:58 pm, 16/01/2023] +Smiley face: Seniors are our roots.
[6:58 pm, 16/01/2023] +Rama: Juniors our trees and branches
[6:59 pm, 16/01/2023] +Smiley face: Beautiful metaphor!
[7:00 pm, 16/01/2023] +Grace: Lovely!
[7:00 pm, 16/01/2023] +Smiley face: January 16, 2023
To: Our Distinguished Leaders and All Honorable Members
"Paying today's price for tomorrow's property..."
- - anonymous
Sustainability?
To complete the equation, there is a need to include 2 variables that are reliability and affordability.
Reliability?
It can only prove itself over time and the consensus opinions or feedbacks will yeild either reliable or unreliable. All tangibles and all intangibles.
Affordability?
Any products or services that come with a pre-planned "package" will include discount, defer payment ( buy now and pay later) or financing (for big bracket items), understanding buyers' needs and identifying buyers budget.
Today and Tomorrow?
After successful balloting, she or he or both paid an agreed price offered by…
[7:00 pm, 16/01/2023] +Smiley face: Hi Grace!
[7:00 pm, 16/01/2023] +Reach: Dear Contributors,
We will be closing the chat for today.
Thank you very much for being part of our WhatsApp chat and participating actively.
Goodnight!
Megan 😊
=======
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