Mr Minister, a nice home with nice view now please
May 16th, 2010 | 
Author: Dear Mr Mah,
I refer to your interview by Straits Times as reported on 7 Apr 2010.
You said that from 1999 to 2001, household incomes rose while home prices fell. However, you omitted to say that immediately after that, from 2001 to 2003, household incomes fell while home prices rose. In fact, given the roller coaster prices, a person who bought in 1999 would have paid more than someone who bought just two years later in 2001. Another person who bought two years after that, in 2003 would also have paid more than the one who bought in 2001 even though it might be the same flat. Because of roller coaster prices, people have ended up paying more for nothing either by buying too early or too late. Is this state of affairs desirable? Are you encouraging couples to time their marriage according to property cycles?
You said household incomes and home prices inched up in tandem from 2001 to 2006. That’s not true, using 2001 as the starting base, from 2001 to 2006, home price indices have consistently been higher than their corresponding household income indices.
You said both indicators rose sharply from 2006 to 2008. Again that is not accurate. Using 2006 as the starting base, from 2006 to 2008, home prices have again outstripped household incomes and by quite a large margin too.
Therefore, what you say is not true. If we break up the decade as you have done so, we find that prices have not moved in tandem with income over the last 10 years. In fact, if we use 2001 as the starting base, home price indices have always been higher than their corresponding household income indices.
You concede that there is some housing demand due to PRs but you have not acknowledged the fact that the great majority of PRs who are renting units or rooms are also contributing to housing demand. You said improving economy leads to higher prices but last year was recession year and prices went up just the same. In fact, during the SARs year of 2003, home prices also went up. These are some of the examples that invalidate the factors you attribute for the huge increase in prices.
You ask whoever can do a better job to come forward. Whoever comes forward, it would be difficult for him to do any worse than you already have.
You said so many things have changed over the last four decades so you don’t want to compare with 40 years ago. You are right, 40 years ago, we had Goh Keng Swee which was why flats were cheap. 40 years later, we have you and now flats are so expensive.
You said 12,000 flats are sold every year but Ms Chua Mui Hoong of Straits Times once calculated that there is a potential 95,600 buyers of HDB flats. The large discrepancy between supply and demand is simply too glaring not to be noticed.
You said the average HDB mortgage is ‘healthy’ because it meets ‘international’ standards. But a recent study by NUS revealed that our housing price to income ratio is comparable only to some of he most expensive cities in the world like Hong Kong and London. Also, time and again, the statistics you provide show that despite meeting ‘healthy’ international standards, buyers of 3-room flats typically have nothing left over whatsoever for retirement. No wonder they are forced to sell their flats back to the government for retirement.
It is clear that you did not tell the entire truth and for some people, that is akin to lying. You do not need to fudge figures to tell lies, you just need to selectively pick figures to distort the truth.
Stop blaming Singaporeans’ rising expectations. Stop blaming Singaporeans for your own inadequacies. Start recognising that prices have indeed went out of control.
No point repeating your grandmother story about your past. The more you speak about your past, the more it contrasts with your current wealth and status, the more it portrays you as someone who has rossed the river and then burnt the bridge.
You said people of your generation started small but upgraded later. It was precisely because prices were much lower then that the burden wasn’t so great so that the realisation of a home was much easier. But with each upgrade comes higher prices with the burden of the upgrade falling upon the shoulders of the next generation. That burden keeps piling and piling onto future generations until it has become totally unbearable. This is like the ponzi scheme that cannot be sustained indefinitely.
You said it is unfortunate that buyers want their ideal flat the moment they get married. Lim Kim San never had qualms about that. He built so many flats so quickly it really puts you to shame.
You said HDB has made many hard choices over the last four decades that have been proven right. With that, you are basking in the lime light of your predecessors. Ask yourself, what have you ever done right as a minister?
You said without a home, we wouldn’t do national service, we wouldn’t fight for Singapore. But you look at the PRs with a home here. Would they do national service? Would they fight for Singapore? So having a home doesn’t necessarily mean that they would therefore serve NS and fight for Singapore.
You said the HDB looks after the whole life cycle. But it is doing a terrible job keeping prices affordable. If the price is affordable to begin with, then there will be no need to sell the flat back to the government, there will be no need for the whole life cycle.
You remind Singaporeans that we used to live in kampungs. Perhaps for some who have found HDB flats exobitantly pricey now, they might prefer to stay in kampungs if that meant much cheaper housing. You said life doesn’t hand things to us on a silver platter. But you and your HDB have been handing Singaporeans IOUs that make us pay for the rest of our lives without having to keep our homes in the end for
some.
Thank you
Ng Kok Lim
Posted in 
When a Minister of his caliber talks rubbish just ignore and make sure he is removed during Election PERIOD
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Well Done
Very Good report you have written.
Clap! Clap! Clap!
Best Regards,
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Ng Kok Lim, I wonder if you’ll ever come out and stand for election? Singapore needs more people like you to check on the arrogant, self-righteous PAP government.
I know it is not easy, but first we have to have a strong and credible opposition in the parliament to counter the incumbent PAP.
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No point telling him that. His main objective is to earn money for the government from its own citizen so that he can take home his big fat bonus. The more he earn for HDB, the bigger bonus he gets. Why would he care for us?? There will always be stupid ppl to vote for them again n again. What we can do is to get more n more ppl to vote them out.
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MBT is nothing but a TC king. But we complain so much and still vote him in to screw us more right?
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Join FB group!
Why Singaporeans are unhappy with the HDB
http://www.facebook.com/pages/Why-Singaporeans-are-unhappy-with-the-HDB/100333616678034
vote for Change, vote Mah Bow Tan out
http://www.facebook.com/pages/Why-Singaporeans-are-unhappy-with-the-HDB/100333616678034#!/group.php?gid=106364636073713&ref=ts
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PAP = Pay And Pay
PUB = Pay Until Bankrupt
HDB = High Debt Bankrupt
(bloody hell, HDB new/resale flats so bloody costly — no thanks to that bloody $2m Minister Mah)
WKS = Won’t Kena Sacked
(arising from $3m DPM Wong Kan Seng, who is answerable for the Mas Selamat Great Escape Monumental Fiasco)
MBT = Minister of Bullshit in Tampines ward
(arising from $2m Minister Mah Bow Tan’s bullshit statements in Parliament that HDB new flats are “HEAVILY subsidized with a MARKET subsidy”)
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We should know what to do at the next GE.
Vote out MBT.
If you dont, then dont complain.
He will win..no matter what we do. His government will give him a cushy chairman job somwhere after that. But at least..we would have been rid of him.
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Mah Bow Tan is a very decent person who takes a decent car when he meets the people. Of course when he meet others I won’t know what car he uses.
He cares a lot of the shop keepers and gives out lavish upgrading to town centers and the residents have no complain because whatever they want fixed it is fixed. The estate he manages has got better value comparing to others. There is always improvement in the estate he manages. The people in his constituency will surely vote for him irregardless what other people thinks. Goh Meng Seng will be walking with his tail between his legs if he contest against Mah. Surely if Goh Meng Seng wins the election, Tampines flat prices will be diving and that is what Ng Kok Lim is championing. Good luck.
Ng admitted that there are cycles in up and down pricing of HDB. When value of HDB goes up, he says it is hampering the creation of new family and when it goes down the government is depleting the nest of the elderly. People who twist and turn of course is good at playing a role as a politicians. Maybe he is trying to get the attention of PAP to make him the next MP.
Talking about IOU, isn’t it what boost economy. If nobody needs to borrow money, then how can bank survive and where does the business get injection into their companies. When time come everybody cannot pay, there will be financial meltdown, the bank is more concern than you and me. Government already has it in their pulses so don’t worry, you can still try to form the next government by winning the next election. Maybe when you form the government you can consider to stop the public from borrowing.
With all due respect, Mr. Ng who are you trying to smoke.
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Must check out how many years (not months) secretive performance bonus he has. From ministry to ministry, his performance is to increase price. From COE, now HDB price, and many other things. Replace MBT with Ng Kok Lim to be Minister for National Development. At least Mr Ng is CHEAPER, FASTER and BETTER!
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Hey guys!!! There’s a massive people movement going on now. Please join and support to fight against profiteering from Singtel and Starhub at:
http://www.facebook.com/group.php?gid=117853164912683&v=wall#!/
THE GAHMEN CAN SPEND 10 MILLION DOLLARS ON SOME STUPID INTEGRATION PROGRAM FOR FOREIGNERS AND ZERO DOLLARS FOR THE WORLD CUP FOR THE CITIZENS OF SINGAPORE!!! I SAY FUG IT YOU STOOPID WHITE SCUMS!
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I am quite disappointed with Mr Mah.
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It’s quite apparent now that the PAP has been lying all these years and is still lying. Well JBJ was right after all when he called them liars and was he sued for telling speaking the truth.
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Citizens can keep writing about the discrepancies and failures of the Ministers and the PAP but they will never listen carefully and make changes that will benefit us. They are too arrogant. If they do “give in”, you can be sure it is to win the next election. Once election is over, they will flex their iron fists again. This is the government that gives a little to sweeten the ground and then create the earthquake to swallow the earth. I have written to a few Ministers voicing my concerns around the poor elderly, the homeless, the pressure cooker education system etc but guess what, NOT ONE Ministry has ever replied. They don’t care, they don’t listen and they don’t SERVE! They take taxpayers’ money by the millions to line their own pockets but treat their paymasters like dirt! Instead, they treat their payroll department (PM, SM, MM) like gods. How can people with such misplaced loyalty be in the career of PUBLIC SERVICE?! Singaporeans must stop shitting on themselves and vote out these blind, deaf and arrogant pappies!
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Its a well known fact that the MIW made this decision perhaps 20 years ago that will ensure they kill perhaps 3 birds with one stone.
1. Make the population slave to their home
2. Generate incredible profit that they can use for anything they want without having to account for it. Simply raise the cost of HDB to whatever they want it to be and then the money does not need accountability anymore.
3. Make the population fearful of a drop in value as they can’t afford it and fearful enough to keep MIW in power.
What a brillant move. Only few Singaporeans can see this… we need to tell this to more people but this fear is so entrenched … Only people who are totally looking out for themselves would consider such a strategy to stay in power. However, the ponzi scheme will run out one day and that day is near. We need to accelerate it otherwise singapore may be ruin by MIW because they would scarifice singapore to save their miserable party.
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Well done and keep it up !
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SilenceIsGolden:
May 16, 2010 at 6:33 pm
Who are you trying to smoke their “love muscles” again?
Going by your whisper of distortion wisdom preached in TR,
- Obviously you are in denial
- and try to act blur to deflect irrefutable logic in order to smudge the whole picture
- in order to give your out of place logic some space in the front row….”…..
Haven’t you vomit enough yet?
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Scores of Singaporeans from all walks of life that streamed into the home of Dr Goh yesterday to pay their respects.
As well, ministers, members of Parliament and other prominent Singaporeans.
Does it not seem odd when all the politicians, even the President has come out to pay respects and say words about the late Dr Goh..not a single sentence has come from MM.
We know that ST has no ****..to even ask MM for an answer.
But we can visualise that anyone who messes with MM gets frozen out.
Maybe that the reason he is so quiet about paying condolence to Dr Gohs widow.
Maybe..who knows.
Strangely too..but not strangely… Dr Toh chin Chye has not been quoted too.
ST staff know they have to wait for signal from boss at ST..before they can even blink, let alone think about anything to do
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NG KOK LIM..
I salute U !!!
pls run for election in the coming GE…
I will definitely vote for u…
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To SilenceIsGolden: May 16, 2010 at 6:33 pm
Do you know how many people perished when Adolf Hitler passed down the order and systematically eliminated those people? The answer is 14 million in 6 years. How was that possible?
Of course here and now, the stage is different, the era is different, the environment is different, the situation is different, but one thing is the same. What is it? It is the characteristic of YOU and Hitler’s army of runner.
You know why? Here are some hints for you, no respect for ordinary people but only the elites, blind faith to his leader no matter if he is right or wrong, no self respect, no soul, no independent thinking mind. No …..I better stop here. Cheers………..
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黄老邪: May 16, 2010 at 2:25 pm
“I know it is not easy, but first we have to have a strong and credible opposition in the parliament to counter the incumbent PAP.”
.
.
How do you think that we can achieve “first we have to have a strong and credible opposition in the parliament” ?
If you expect Singaporeans with similar calibre as Ng Kok Lin to stand for election, surely it is imperative that Singaporeans like you will support such a person so that he can form a strong and credible opposition in the parliament ?
It is no use wishing for such a person to be in parliament but then doubt the ability of the person to be strong and credible.
After 53 years of PAP arrogance in Parliament, the worst that any Singaporeans can continue to do to harm ourselves – is to continue to doubt anyone to be able to be strong and credible.
Dr Goh Keng Swee had been quoted to have said – “The biggest mistake that one can make, is not to try and make any mistake”.
Can we ever know or learn anything if we do not try but will allow ourselves to succumb to our own fears of the unknown, or to allow others to threaten us with the unknown or imaginary challenges ahead.
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Well done, Kok Lim, keeps it up and never gives-up, we are here forever supporting you and TR team! An article very well written, indeed!
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Implemented charging HDB flats by floor levels for better views. This was after JBJ though sincerely but unwisely questioned about HDB prices being high from ground to top floor! And that was not like private condos with “lower” prices for lower floor units. Of course being the old fox he is (you know “who”), graduated prices was implemented “top down” and not “bottoms up” as raised by JBJ!
Well, Will HDB COMPENSATE HDB owners when the “VIEWS” they PAID MORE FOR diminishes and went “away” due to other HDB or PAP govt aprroved property developments? PAP only knows how to take and don’t know how to TRULY GIVE right? Except only as carrot for GEs?
Now, who is talking with “that” golden voice? An ostrich with head in the sand but still can be “heard” out “loud” above dry sand? Strange phenomena!
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@土生次等工民:- Goh Meng Seng does not have the endurance and capability to be a MP. He migrates from WP to NSP taking a step down. Frankly he is bloody lazy.
He prefers to be a keyboard warrior rather than work the ground. Talking to people outside his constituency doesn’t win him any milestone in getting the people to vote for him. People of Tampines has got to go to the food center to catch a glimpse of him while those whose mourning family with no one to come to their wake does not see an opposition coming to console.
People who can analyze come in truckload, do you think that is the quality that is going to win vote. If you don’t be there when the people need you most, how can people count on me to fight for them.
PAP has hinged their hope on well heel individual and those that attend CC activities. They will meet the MP and can even mingle with him. MBT has regular meet the people session where he helps some to solve basic problem while Goh Meng Seng is who.
Of course he can count on those protest vote but the number is dwindling because the opposition is bickering more than PAP. At the end of the day it is not just rhetoric but who has a heart for the people can be seen by the people. Low TK and Chiam ST are people who works the ground and in their building years, they will be there at funeral of mourning families whose heart is the most tender. With kind gestures like a little white packet and the chance to mingle with bereave family, they won the people heart and mind. Though it may seems that he is only mingling with few people but words went round and spread through out that this is a man that cares. This is done at the heart of the constituency where voting really counts.
Goh Meng Seng must sacrifice if he wants to serve the people. Maybe his time for his family may be compromise but that is the small price comparing to other more sacrificing people like JB Jeyarethnam.
Come on tell him to be a formidable contender. PAP doesn’t want to win hands down or face a weakling opposition. All I could see in him is a man who want to win easily without paying a price for the important job of a MP. Tell him better dont sell his HDB, hate to see him encamping at Changi.
Don’t think so much, better vote PAP to save yourself further embarrassment by vouching for a half past six candidate.
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I can’t say I completely agree with the way Minister Mah handled the ST interview, but what I disagree with even more is the way this article was crafted.
Don’t get me wrong, I’m all for diversity of opinion and open discussion of government policies– we are after all a democracy.
But what worries me is how this article by Mr Ng is fraught with unsupported assertions and, at best, poorly-conceived swipes at Mr Mah.
Sure, we have the right to voice our opinions and displeasure to the very government we have elected to do right by us, but how do we expect to be taken seriously when feedback is as irrational and non-constructive as this?
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what you expect from someone who came by the back door??
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Actually, I don’t quite agree with you. Houses are meant to kept for long term. You cannot compare just in between years. Also, all the points that you had put across, where are your source of statistics?
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Simple as that,low-cost housing for the common citizens,especially first-time buyers,should be LOW COST.
It is the duty of the MND
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This is a rehash of MBT’s nonsense. Just VOTE THE PAP OUT.
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Ng Kok Lim is a former PAP supporter. He changes side because his boss treat him badly. Dont believe in a thing he says.
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very well written article.
the old guard of the pap has done their job and did their job well. those tough time calls for very tough measures and decisions, and it worked.
but these new paps “leaders”, if you ask me what are what have they done, seriously, i dont know.
by the way, what has our current PM done to deserve his post?? can anyone be kind enough to show us his resume?
thanks; again, a change is inevitable.
cheers all.
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@SilenceIsGolden
I am aghast we are paying our MPs and Ministers by the millions so they can attend funerals and be at CC functions. I’d rather they do a good job with policies so that if a breadwinner in the family dies, the family is NOT left stranded forever. I’d rather they have good policies so the poor and sickly don’t have to avoid medical care because of high costs or sell their HDB flat to pay for medical costs (an MP actually told a sole breadwinner with 4 young children to do that so he can pay for dialysis treatment!!). I’d rather they spend time listening to people’s genuine concerns, study the current policies and plug the loopholes so that the old and feeble do not still have to collect cardboards and sleep in the streets and still not be able to make ends meet. I’d rather they work their intellect (they do claim to be the cream of the crop) and tackle the low birth-rate issue than just take the easy way out and import lowly-skilled foreginers by the hundreds of thousands for short term fix and long term social ills. I’d rather they spend time studying in detail our security system so dangerous criminals don’t escape and put the whole nation in greater future risks of terrorism. I’d rather they get into their jobs seriously so criminals are arrested before they leave the border and bereaved families can find closure for their loss. I’d rather they work hard at tackling discrimination at hiring and themselves hire older but skilled Singaporeans than worry someone else’s skills and experience will soon put them out of work. If they are truly for Singapore, they would want the BEST for Singapore. What is the best? I’d rather they spend some time reflecting and answering that honestly and then telling the electorate so we know if their values / ideals / vision are the same as the people’s so we can make informed choices at the ballot box.
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I’d rather they face up to their mistakes than spend precios and expensive time concocting excuses (they are probably the most expensive per hour worker in the whole wide world). I’d rather they stop being deaf to criticism and blind to problems. Not hearing and not seeing doesn’t mean the problems don’t exist. Shouldn’t such highly paid workers actually WORK to solve the problems?
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SilenceIsGolden:
the upgrading that PAP wards always get which non-PAP wards do not get is just another evidence where policy is based on votes, not merits. no one doubts that tampines is a very successful town. if you’re in control of the HDB, you’d make sure your own town is the best isn’t it? if another person controls the HDB, then he can do the same. nothing magical here.
i do believe that tampines is so well maintained, mah should be safe. if you want to look for constituencies that are unsafe, look for those with the largest number of resale transactions at sky high prices.
you said mr ng is championing tampines flat prices to dive. show us where in the article is that alleged?
please don’t be a liar. where in the article did mr ng say that prices going down means depleting the nest of the elderly? they are your own words so you better not lie and say mr ng said it. so it is you who are twisting and turning. but you won’t make a good politician because you twisted the wrong way until it poked yourself.
an IOU on its own doesn’t boost the economy. if you buy a book that cost $20, that is the price and also the value of the book. but if suddenly, the price of the book shoots up to $40 overnight. does it mean that the value of the book has suddenly increased to $40? no, the value of the book is still $20 even though the price is now $40. so while the IOU may now be $40, only $20 is real economy. the other $20 is money transferred from buyer to seller much like money changing hands in a casino. you don’t get more goods by paying that extra $20.
so even when we talk about borrowing money, we must ask borrow for what? if you’re borrowing $20 to buy a book, that’s fine. if you’re borrowing $40 to buy a book and to also top up the sudden increase in price of $20 which you get absolutely nothing in return for, then it’s like you’re borrowing to pay for gambling loss of $20.
bank can survive very well if $20. the extra $20 is pure blood sucking money.
govt skulls are so thick, the only pulse they feel are stupid ones fed up people like you.
with all due respect, Silence IsGOlden, why are you are liar?
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@atobe: At this point, sir, I can only say “I wished for a good, credible and strong opposition in parliament”.
What I fear is that most people who post on TR is just ‘tough- talkers’, but when election comes they will still vote for the PAP. These people post the view simply for the sake of venting their frustrations or to just ‘join in the chorus without much as a thought or purpose as to what it is all about’
Hence i said i wish, because i will never know what a person is thinking even he is cursing and swearing at the PAP. Furthermore, given the large number of walk-overs happening in every election due to the unfair GRC election system, most people who really wanted to vote for the opposition are not given a chance.
Hence i said i wished. I myself had been denied the chance to vote for 3 times, unless i moved to hougang or potong pasir will i get a chance to vote. How the PAP is going to re-draw the election boundaries is anybody’s guess.
That’s why i urge like-minded singaporeans to stand up for our own rights, our children’s better future, to vote in as many oppositions as possible.
This is like in the 1950s, when the PAP was the opposition then and they struggle against the British administration to fight for independence. Now we are struggling against the PAP which is nothing more than a bunch of over-paid, greedy policy makers.
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MBT also one big loud-mouth talker.
At a time when a new 4 room HDB flat cost $120k, he say it is affordable.
At a time when a new 4 room HDB flat cost $240k, he still say it is affordable. How can that be?
Flat price doubled but most of us’ pay did not doubled. This is the kind of minister we are paying millions of dollars for. Need I say more?
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Only one guy in TR will write such an idiotic statement despite all of the evidence before us all for the last 25yrs! And am sure you all who are NOT with him surely know who this pap nerd is:
“Come on tell him to be a formidable contender. PAP doesn’t want to win hands down or face a weakling opposition.”
PAP “doesn’t want to win hands down or face a weakling opposition”? This “nerd” of a pappy “lying” type conveniently IGNORE PAP’s OVERWHELMING AND COWARDLY “hands down” methods AGAINST the opposition:
1. GRC system!
2. Last minute redrawing of Electoral Boundaries!
3. Last minute announcement of GE dates!
4. Only 9 days for GE hustings!
5. Raising of Ministerial & MP paychecks first to prepare PAP UPFRONT financially and then at the last minute raise GE deposits!
6. “Sum-Seng” or “street-type” language of like the past 24 & 08 gangs to “FIX” the opposition and to “If they behave like gangsters we will treat them like gangsters” by both son and his apa respectively!
7. Lock up of so-called “communist” political opposition candidates who are even doctors. And for decades WITHOUT trial under ISA! – Is THIS “justice” since no proof of their “communist” linkage was ever produced! And with them locked up till old age and in ill health. Full of evidence on the Internet too!
8. PAP old fox used the “communist” social line to come into and maintain power!
9. Old fox hypothetically no doubt on CNA said “If he had to he is willing to take 200,000 younger student lives for the good of China in the 100 yrs.! And so be it”! – ISN’T THIS Communist Ideology thinking?
10. Bankrupting politically motivated law suits against opposition parties and candidates even for GE hustings comments!
11. Against low-class behaviour by calling Tan Liang Hong “A Chinese Chauvinist” in Chen San!
12. And also saying that Tan Liang Hong “intent” to evade having to pay for PAP’s ELEVEN lawsuits against him IS CLEAR by his making his $10M dollar bungalow belong to his wife and daughter! – And this was by then PM GCT when their bankrupting “intention” law suit was in the courts! Justice?
13. UGhhhhhh…. No. 13! Please add on folks for the “benefit” of that pap “lap-dog” here in TR! Thank you.
Some “nerd” here here selectively “hammer” those opinions that he can and hide from those he so obviously can’t as evident! COWARDLY and also the same type of “the means justify the end” and “so be it”! Evil thinks and do as evil does! Period!
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What I am writing may not be directly related to this topic. But in my conversion with a friend who recently moved into PINNACLE @ DUXTON, he told me that it is very cosmopolitan…..many new citizens of other races…Burmese, Caucasians etc….have been able to get flats there. This is FOOD FOR THOUGHT for those who failed to get a unit there or for that matter any new HDB flat.
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tinkerbell,
where are the so-called unsupported assertions?
show us why you think the ’swipes’ have been poorly conceived. don’t tell me you’re just asserting them but not giving any support to your assertions.
with no support to back what you say, don’t blame people for thinking that your feedback is irrational and non-constructive.
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stayingNeutral,
you ask readers here not to believe what you purport to be someone who no longer supports the PAP. so how can you even claim to be stayingneutral when your message is clearly pro-PAP?
stop kidding, you’re only kidding yourself.
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@tinkerbell perhaps you will like to point out why this article is irrational and non-constructive. It’s difficult to take your opoinion seriously when you take poorly-conceived swipes at the author without justifying your reasoning.
@SilenceIsGolden MBT can give upgrading because of the funds PAP wards get. Why is it that opposition wards get no funding even though people in PP & Hougang are also Singaporeans? Try playing fair and see what the opposition can do for their constituencies instead of resorting to such dirty tricks.
Speaking of twist & turn, MBT is the exemplar of this by distorting figures on housing affordability and then keeping mum about it when the truth is exposed.
If everybody needs to borrow $$ to stimulate the economy, aren’t we following the footsteps of America and driving Singapore into a great recession!? If banks cannot survive without giving out big housing loans, it’s obvious they’re not innovative and aggressive on courting business from overseas market. The welfare of banks and the nation should not be built on the debts of Singaporeans!
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the numbers for DBSS can be seen in today’s straits times
Yishun land is now priced at $179.80 psf
construction cost estimated by Ngee Ann Poly lecturer is between $180-220 psf for DBSS which includes DESIGN (something not so necessary for many HDB flats, because there have been so many designs used already that it is easy to just pick one existing design), BUILD (including DBSS-style more expensive flooring, furnishing etc which not everyone may want), and SELL (as if we really need to sell hdb flats – they sell themselves on their own and are oversubscribed 5 times, and this sell thing is to create jobs for people who are otherwise quite redundant and can do other things like replace foreign talent elsewhere in singapore).
Then comes the bombshell – selling price likely to be another $70-90 psf more. Instead of getting contractors to make the flat at the construction price, this brilliant scheme involves feeding businessmen another $70-90 extra for thank you very much for your good work.
We also can infer from here that plain vanilla HDB flats will definitely be less than $180psf in construction. Previous estimates put it at about $100psf ($100k-120k for a flat).
Flats that do not place a burden on your life exist. It is whether the government machinery allows them to be built or not.
$100 psf for construction
$xxx psf for the graciousness of the government to let you use their land in Yishun for 99 years, which currently stands at $179.80 when bid by fierce DBSS bidders – this number can also be reduced when the not-so-fierce plain-vanilla-HDB contractors come to bid.
We don’t need to be prisoners of debt. The solution is plain and obvious.
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in Today newspaper today:
“If we were to reveal the Reserve Price for sale sites, then it may influence or distort the developers’ independent assessment of land prices and their bids, or deter some developers from bidding,” Mr Mah said
The only Reserve Price that can deter developers from bidding is one which, in their opinion, is too high. Another term for “too high” is Crazy.
Therefore, it is only natural, that if you release land at a Crazy price, you will deter developers from bidding.
I think the greater damage comes from the fact that you show you have released prices at Crazy levels.
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http://www.channelnewsasia.com/stories/singaporelocalnews/view/1057622/1/.html
headline reads BTO in Boon Lay gets strong demand
But we know it can’t be true because every politician and their grandmother knows that 9 times oversubscription isn’t real demand if they cannot sell out all 450 units within the first 24 hours.
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I think the key is. Who gave MBT this data? Who advice him on policy? All this sub-million-aire civil servant should be taken to task as well. Not just the minister.
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I’m fed up with the sky high hdb flats prices, time to vote Mah Bow Tan out.
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August Man:
May 20, 2010 at 5:01 pm
I think the key is. Who gave MBT this data? Who advice him on policy?
The question is, does he truly believe in all those statements he issued and the skewed statistics he published, or he fully well knows the reality is something else but he cannot, for some reason, reveal the truth and take appropriate action?
Never in history has the government have to massage so many statistics, skew so many graphs and insist on statements which almost everyone on the ground know to be the opposite of reality. there must be something compelling them to do all this to change the picture and influence the action of the vast majority that is unable to sieve out fact from fiction.
What might be this compelling reason?
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My flat is facing a big longkang. Longkang stench yucks!
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