The Lack Of Inter Generational Wealth In Singapore For Commoners

Singaporean who work hard in their entire lives don’t get anywhere as compared to citizens in other countries. Home ownership is 99 years and a Car is valid for only 10 Years.Are singaporeans buying into an asset system or a rental system? Both are definitely
different and carry different prices.

In many countries people aqquired much more wealth and assets than singaporeans, their future generation do not need to struggle in their lifetime. In their first generation family lifetime they already earned generational wealth that stays put.

An example : Someone bought something like property for a few thousands in in 1980s ..when their offspring or children lifetime few decades later its worth many times more.The children of the persons have a lifetime insurance.Therefore their children are sitting on a appreciating generational wealth and assets , unlike Singapore’s leasehold condos and HDB flats which the value depreciates every year as it runs down to 99 years.

No sane investor pays half a million for a depreciating lease. About 70,000 flats (of the 1-million HDB flats) are more than 40 years old, and almost 10 percent of flats will face lease expiry in 50 years. The Minister’s announcement essentially means that such flats will have zero value once it reaches 99 years and owners will have to vacate their homes.

Profiteering by the elite capitlaists is evident in singapore and fools get trapped in a debt system they can never escape from including their children. Singaporeans need to rethink the debt system and analyse if it really helps them or their families.

Additional material:
http://www.tremeritus.com/2018/04/17/hdb-asset-enhancement-was-a-pap-scam-to-win-votes/

 

 

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13 Responses to “The Lack Of Inter Generational Wealth In Singapore For Commoners”

  • LIONS:

    Here only the rich has generational wealth.
    For the peasants,you work till drop dead n leave with nothing left behind for your kids

    How RICH is THE FAMILEE really?
    Not amongst SG 50 RICHEST?
    Worse off than Hotel 81 owner or Popiah King?

    Well…

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  • Monopoly NTUC:

    70% deserves it……….

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  • Sun Tze:

    Talk is cheap. Let call a by election and see whichh Minister has the guts to stand in these GRCs and face these people.

    You dont even have the iron in you to call a by election on this issue.

    Phui!

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  • HDB Asset Value:

    The present HDB Asset system is a hollow dream for many.
    They are left with nothing at the end of the lease..zero value.
    Only fair to returned 50% of the purchased price at the end of the lease as the land will be returned to the Government.
    Alternative is to extend the lease by another 99 years…

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  • congrats to Najib:

    You fools.
    Your asset is nothing but a coe. It expires over time. Depreciates to zero.

    You own nothing.

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  • congrats to Najib:

    LIONS:
    Here only the rich has generational wealth.
    For the peasants,you work till drop dead n leave with nothing left behind for your kids

    How RICH is THE FAMILEE really?
    Not amongst SG 50 RICHEST?
    Worse off than Hotel 81 owner or Popiah King?

    Well…

    Most of the richest in Singapore derive their wealth from properties. But property value is a Bubble.

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  • Rabble-rouser:

    Wealth is in the head, not in your material assets. The worst thing parents often do for their children is through avoiding imposing a hardship phase & challenges in life for their kids; instead they leave a tonne of assets & loads of money for them to spend. In the process, it’s where the GENERATION STRAWBERRY or GENERATION SNOWFLAKE TERMINOLOGY comes to describe each passing generation.
    The term Generation strawberry implies that this generation are like strawberries which bruises easily & must be handled with care. Snowflake generation are a degatory term used to characterize the young adults of the 2010s as being more prone to taking offense and less resilient than previous generations, or as being too emotionally vulnerable to cope with views that challenge their own.
    The late LKY & the PAP loved to use the phrase, “NO ONE OWES YOU A LIVING” but apparently, they have forgotten the phrase when they gave themselves high salaries & unaccountability (for performance).
    Let’s not talk about S’poreans but our country Singapore instead. The PAP 4Gs are the worst lot of politicians I’ve seen. Pampered, pompous & totally unconnected with economic reality. Apparently, S’pore is going downhill fast. The previous day’s shock announcement of Barisan National’s demise at the ballot box was a game changer of sorts. I chuckled that it was the same day when the PAP govt announced the Jurong MRT extension.
    Mahathir was never a friend of S’pore nor did he particularly like the PAP. Remembered during 1998 ACC, he closed CLOB & destroyed the wealth of many S’porean investors of M’sian shares. The question is will he honour the High Speed Rail (HSR) signed under his predecessor Najib or will he have his own agenda. This wily old fox will be a difficult guy for PAP’s 4G leaders to handle.
    The current day PAP govt had wasted the financial resources built over the last 4 decades of careful husbanding & collection of govt revenues & their parsimonious spending on the people. Now they are going full tilt with debt financing to go through a series of megaprojects. Yet I detect all these spending will not improve the well-being of S’pore & for the people. You see, the PAP is trapped in the GDP growth mode oblivious to the climatic change that is taking place around the world. The obvious factor is the huge carrot dangling in front of them eg. ministerial bonuses for exceeding GDP growth. But the US (with Trump pursuing USA-first policies), China (XJP & OBOR shifting trade routes) & now Mathatir, we’re witnessing the shifting sands before our very eyes. At the end, No one owes you a living comes to bite the PAP.

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  • Things in themselves:

    HDB never should have departed from its original mission of providing “affordable public housing” to ordinary Singaporeans. When the only leased roof over your head is transmuted into a preoccupation to “enhance this asset” then you have subscribed yourself to a perpetual delusory enterprise uniquely LKY in character.

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  • oxygen:

    THE TRUTH IS THAT THE PAPpys ASSET ENHANCEMENT POLITIC SCAM in nexus with CPF entrapment deception ripped off all the savings accumulated in the Baby Boomer generation.

    The retirees can’t monetize their DEAD CAT housing. The CPF savings bundled in price-inflated leased public housing scam vaporizes to nothing as their lease progressively expires.

    Whatever not sucked into housing, PEASANTS can’t withdraw them at 55 to fund their healthcare and survival leaving them to be dependent on their cash-strapped children instead of providing the seed capital for them to grow the accumulated wealth via inheritance.

    PAPpys gold-digging sucked up all the wealth created leaving the peasants impoverished made even worst by its failed POPULATION RECYCLING ECONOMICS favoring foreigners.

    Our children lives are reduced to a struggling existence, some graduates living on hand-to-mouth and other millennials still dependent on financial support from their Baby Boomers parents.

    A VERY SORRY STATE OF AFFAIRS exist in LEE-jiapore WHICH PAPpys pretend they are blind to reality. A usual reliable informed source told me that he saw a PAPpy MP on walkabout near a busy shopping complex simply walked past an old auntie selling tissue paper – the entire troupe of white termites just simply pretend this beggarly peasant didn’t exists, talking among themselves and quickly walking past this “eye-sore” of irritating distraction/inconvenience and goes on smiling, and “love-making” sweet-talking with the other crowds of shoppers (obviously with an eye for their votes instead of one deserted irrelevant beggar).

    The PAPpys should have stopped and each of them buy a tissue from this elderly struggling beggarly street tissue paper vendor – THEY DID NOT! And didn’t even take an eye glance of her. HOW DISGUSTING of “for you, with your and for LEE-jiapore” of their party war cry manifesto!! Not surprising one bit to me – PAPpys have got deeply entrenched ANTI-WELFARE mentality EXCEPT FOR THEMSELVES living on own-self-cheque-ownself pay packet bludging on state welfare purse coming in via the backdoor GRC route.

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  • self-confessed masturbator:

    I am a true blue Singaporean.
    Do you know what is my response to my flat depreciating to kosong starting from age 35-40?

    I would invoke BOH BIAN .

    What can you do?

    I smlj also say Boh Bian.

    Everything I Surrender.

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  • Is it hard to understand?:

    Is it hard to understand when the msg from pap dated back to when GCT succumbe to be seat warmer to complete le nepotism or dyansty is consistently if you don’t like it, vote me out but b4 you can do that hthey have the policy to import foreigners to kick the bloody butts of Singaporeans and to drown off Singaporeans. Local no matter however capable you are have to give way to the nfi nepotists just like the Manchu dynasty in which all Manchu race receive support from the dynasty and wgen the third emperor Yongzen wanted to integrate the hun with the Manchu and decreed the manchu to work for their own living, the race resisted and demand it os their right to be fed by the huns. Lee dynasty has the same notion not of yongzen but his predecessors that the nepotists and their harem of plps have the right to be fed and to hell with the populace. They would rather have the foreigners than the Singaporeans. This has prompted the nfi well fed nepotist shits to exhort Singaporeans that if they want the jobs they have to be greedier, hungrier and more ruthless and aggressive to STEAL them from his foreign trash which they embrace as talents who are grateful to their filth dished out to them and if they show any dissatifaction they can be deported unlike the daft Singaporeans. This is why they would rather not only give the jobs to the foreign trash but also spend billions to educate the foreigners either by importing hundreds of thoisand to take over the places in all education institution with scholarship sufficient for them to remit to their family in their homelands and/or playing shares while increasing unceasingly fees for all Singaporeans. This literally means instead of supporting the citizenry they would rather buy gratitudes by using the state funds to support foreign citizens both they bring in and those in their own country. Of course opacity is necessary with open wayanging which Sinkies were made to believe to be truth for saying otherwise will face disasters brought about by the compliant plps as the nepotic siblings openly told the citizenry and which was not challenged in open court but self declared as innocent in Parliament filled by his harem of plps. The arrogant extreme shit of the 4th cesspool has threatened in a continual thread that he has no problem to bring in foreign pmets to replace the Singaporeans.
    With such mentality and mission, Singaporeans are just incidental except at each GE where as LKY said Singaporeans r daft. Daft to believe all GEvpromises which they break repeatedly after each GE. So he has the right and power to openly insult Singaporeans as daft or so damn stupid never to see thru their wayang. Perhaps only those who were replaced by the nepotist (main, sub, sub sub down the chain of Buteaucracy) and those (cont

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  • Is it hard to understand? 2:

    cont
    retrenched and replaced by greedy, hungry, aggressive foreign import will feel the pain and shocked to awareness that they have been stupified real bad. Singaporeans have been so compelled to leave like the frightened sibling and his family. Though in a racial and nationals biased environment most of these Singaporeans were able to prove their worth to succeed in such environment as in HKU which has one of our international Constitution law academic nepotically displaced just as the exempted NS son while being MODm Harvard U, Oxford and many other well ranked foreign institution. Those who left with arrogance in their fake ability usually cannot faced to the challenge, get their pr or whatever and returned as treasured foreigners and were made to replaced the capable but unwilling to succumb to plp. These returned shits struct arrogantly like their lp which they become dogs wagging their heads to be petted. The nepotists and their harem of plps down the ranks have shown that they have the power and thus no problem to import greedy, hungry and aggressive foteign trash as expressedly and arrogantly said by the supposedly top of the 4th generation of cesspool in the very word that he has NO PROBLEM to import foreign Pmets to replace Singaporeans. Yest Singaporeans think that all these are for their benefits and interests. It is no wonder the prime arrogance openly insulted Singaporeans daft or stupid to the world. Yes Singaporeans are so stupid to believe again and again the promises at every GE and saw them broken after the GE and in fact aggravating further. Yes just on this count, the late nepotist was speaking the truth of what he has been thinking all along till he went to see those he has exterminated.
    The wave of awakening to people power to demand those they voted to work in their interest and benefits and not to suppress their freedom to dissent and criticise, NOT for them to freely self gratified with their greed and power financially and replacing Singaporeans with their nepotic digits, plps or foreigner in that order, to humiliate their decling standard of living and their intellect, to con and operate in opacity and to exclude their children from univrersity by lying that uni degree is not essential and NOT again so stupud to fall for the falsehood and peanuts when they should have more.Manchu dynasty during Kangxi dynasty has seen the state being emptied by the court officials by the chain of plps and royal family.
    Will the wave scorch Singaporeans as it has done to Malaysians, pinoys, Brits and yankees or are they really that stupid to continue swollowing up the garbages they have been wayanging thru the nepotism regime?

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  • Australia Citizen:

    the article writer is right… The wealth in singapore is also an illusion as it belongs to the state.U leave nothing for yr future geenrations and yr entire lifetime of wealth accumulation is not passed on to yr future generations. Unlike australia where we actually now seeing one of the largest intergenerational wealth transfers in history. In Singapore we are seeing one of the largest welah depreciation. 15 years in australia now i am glad i migrated out of singapore .

    http://www.afr.com/news/special-reports/portfolio-diversification/largest-intergenerational-wealth-transfer-to-come-20171205-gzz6cg

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