atans1

HK, S’pore compared

In Hong Kong on 03/05/2017 at 4:27 am

Despite what a S’porean Oppo politician living in HK says, life here is surely better (The quotes about HK and Hongkies come from http://www.bbc.com/news/world-asia-china-38623439)

Hong Kongers enjoy free speech and a free press, but don’t have the right to democratic elections – meaning they can readily discuss what makes them unhappy, but have limited political means to change things.

We happier because we don’t enjoy free speech and a free press and so not frus (sans cybernuts like Oxygen) that our free but unfair elections can never change things. So why does Mad Dog Chee keep on banging his head against the wall? He doesn’t read his own analysis of S’pore isit? And what weed is he giving to smart people like Dr Paul to follow him? Police must investigate.

Hong Kong often ranks as having the least affordable housing in the world – and this “affects young people’s family planning, and their choice of future careers,” Dr Wong says.

Our public housing is affordable We got PAP looking after us from cradle to grave via the HDB system. More on this one of these days. Even TOC (writer Chris Kuan contributing) says “The reply by Housing Development Board (HDB) on resale prices and Lease Buyback Scheme (LBS) sums don’t seem to add up to resale buyers overpaying.” https://www.theonlinecitizen.com/2017/04/28/hdb-reply-on-resale-prices-and-hdb-lbs-example-show-resale-buyer-are-not-overpaying/

The LBS is value fot money, is what Chris K wrote. Err wondering if Terry knew what he was publishing: a pro PAP piece?

Jennifer grew up in a public estate with her parents and brother – but says after her brother got married, the small two-bedroom flat became extremely cramped.

“For almost a year, I had to sleep on a sofa in the living room.”

Not having a room meant she struggled to sleep properly after a long day at work, especially after her brother and his wife had their first baby.

We got more room for sex.

According to one study, Hong Kong’s young people are the unhappiest they have been in a decade – and the least likely, of all age groups, to agree with the statement “life is really worth living”.

Other surveys find that 60% of those aged 18-29 want to emigrate, and 80% are unhappy with the political situation.

If Hong Kong’s youth appear particularly unhappy, it might be because of the territory’s unusual situation. It’s technically one of the richest territories in Asia, but also has one of the worst wealth gaps.

We not that bad.

As my FB avatar pointed out to Chris Kuan when I read his LBS piece,

Glad to see u realise that the faith of the 70% in PAP is not misplaced. LOL. Seriously, bet u a lot of the cybernuts following u on FB will stop following u …

Btw, anyone knows what happened to that Oppo politician living in HK who used to tell us that everything in HK is a lot better than in S’pore. He gone AWOL? Or MIA? Or in detention in China?

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  1. Getting HDB direct thru BTO is a no-brainer for those who qualify — it’s hands-down the best value for property in S’pore. The question is whether HDB can hold value for the very long term, and in what manner, shape of lease decay, different stages of accelerating price declines etc??

    With regard to whether HDB holds value over the very long term — I would have to reserve judgment coz Chris K’s article doesn’t provide the complete picture. Or more accurately the info provided by HDB is either apples-to-oranges or incomplete.

    Let me explain.
    With regards to the HDB’s reply on the resale flat, it is “only” 37 yrs old. Based on comparison with lease decay in other big cities, the resale price offered by HDB is actually quite on the money. The problem is what about flats that are 60, 70, 80 years old?? We and HDB don’t have large enough or even any single actual cases.

    With regards to the LBS being good value, it is merely based on a hypothetical example from a HDB webpage that is flogging the scheme to old fogies >65+. Whether it is that good in real life is another question. The given example clearly over-estimates the value of the tail-end of leasehold when compared to actual experience in other big cities. I suspect what is happening is that HDB actually values & “buys” the front portion of the remaining lease, and NOT the tail-end. But whether HDB will continue to apply this unspoken interpretation of LBS is all up in the air, and also depends on whether more & more will take up LBS and whether S’pore continues to have large budget surpluses to pay for all this. Currently it is a good arbitrage play for old folks to take advantage of.

    LBS suffers from the same problem as CPF Life — opaque internal workings & computations and subject to unannounced changes in computations & internal assumptions. E.g. CPF Life internal annuity calculations have changed a couple of times since it launched — the monthly payouts as calculated by the CPF Life calculator has changed even with same parameters in just a few short years. Previously, the Basic CPF Life option was the better no-brainer choice. Now the default Standard CPF Life is arguably better with a significantly higher quantum in monthly payouts. Imagine those old folks that took up the Basic plan earlier…

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