Tharman : 1K income can buy HDB??
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If somebody is nice enuff to work out the sums for this, pls share…
i am really curious numerically how this all works + the day to day expenses of the family.
Know someone (unmarried) who earns just a shave off $1k (and staying with parents’ hse) and that person is already struggling with day to day needs…
I could probably share with him the new policy… -
Funz:
For him to quote this \"1K can buy HDB\" example to imply that all HDB is affordable... Is like u quote this $30 bill but omit the pension thingy...
Why be so quick to call everything that the govt is trying to roll out a joke, or lame or a smoke screen?
We all know better right?
Not smoke then I dunno what it is...
:siam:
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raysusan:
Yah lor - things in SG sooooo cheap....last year some one said $8 can do a bypass surgery
this year $1k can buy HDB
:faint: .......
Then dunno why when they were talking abt Ministerial paycut - there was so much fuss...
Cheap to live in SG mah rite? :evil: :evil: -
Daddy
err... called 'half truth' or 'white lies'?
For him to quote this \"1K can buy HDB\" example to imply that all HDB is affordable... Is like u quote this $30 bill but omit the pension thingy...Funz:
Why be so quick to call everything that the govt is trying to roll out a joke, or lame or a smoke screen?
We all know better right?
Not smoke then I dunno what it is...
:siam:
:siam: -
vicki:
Pay them so much and they come up with such crap. I'd rather put in some monkeys and feed them peanuts. At least they dun suka suka send warning letters and threaten to sue :evil: :evil:
Yah lor - things in SG sooooo cheap....raysusan:
last year some one said $8 can do a bypass surgery
this year $1k can buy HDB
:faint: .......
Then dunno why when they were talking abt Ministerial paycut - there was so much fuss...
Cheap to live in SG mah rite? :evil: :evil: -
http://sg.news.yahoo.com/blogs/singaporescene/1-000-month-salary-really-afford-buy-hdb-065834523.html
He said \"enhanced housing grants for lower income family are such that a family with a monthly income of as low as $1,000 can now purchase a small flat.\"
You read is as implying HDB flats are affordable for all.
I read it as there are now more aids available for the needy to set them on the path of having a roof over their heads.
I am not saying that everything the govt has done or will be rolling out covers everyone and everything perfectly. There are gaps, especially for those whose income fall a wee bit outside the ceiling they have set.
But lets just be a little less skeptical and a bit more hopeful ok. And in another 4 odd years time, we get to choose our govt again. -
What Minister Khaw didn’t say when clarifying Tharman’s “buying HDB flat on $1K pay”
http://www.tremeritus.com/2012/03/03/what-minister-khaw-didnt-say-when-clarifying-tharmans-buying-hdb-flat-on-1k-pay/
[quote]The mortgage payment, said Mr Khaw, can be fully paid through the applicant’s CPF, without incurring any additional monthly cash payments. Based on recent BTO launches, Mr Khaw noted that the median income for this group is about $1,400.
There are, of course, other conditions imposed by HDB for buying a two-room BTO flat. For example:
• You or your spouse must be in continuous employment for one year before the flat application
• You can only apply for this once
• You can only buy a 2 room flat direct from the HDB and your flat must be situated in a non-mature estate.
In the case of temporary workers, it may be hard to show to HDB that they have continuous employment for one year since they may be hopping from odd job to odd job in a one year period.
However, even if they have a permanent job paying $1,000 a month and, like what Mr Khaw said, their mortgage payment can be fully paid through CPF, without the need tor additional cash payments, what Mr Khaw didn’t say is the person must ensure continuous employment for the next 30 years. The monthly mortgage payment of about $150-200, which is covered entirely by CPF, necessitates that the HDB applicant takes a 30-year mortgage loan.
Should they be retrenched or should something untoward happen and they lose their jobs because of health reasons for example, these people will be particularly vulnerable and will find keeping up with payments difficult. And these group of people are indeed more vulnerable because they have a harder time competing with cheaper foreign workers at the lower end job market.[/quote] -
SINGAPORE: As for Deputy Prime Minister Tharman Shanmugaratnam’s comment that Singaporeans earning S$1,000 could also own a home, Minister of State Josephine Teo said she was not surprised at the mixed reactions from netizens.
"They don’t necessarily know that there are grants available from the HDB that will make the actual size of the loan for purchasing these houses not very big.
"With the grants, the loan amount is about S$40,000 and if you stretch it out over 20 or 30 years, the monthly instalment is in the range of S$100 to S$200," she said.
"On the one hand, people can’t imagine that even a person earning S$1,000 can earn a home. On the other hand, the facts do show that with grant support and with regular jobs and CPF contributions, over time that goal can be reached even for those on the lower end of our income spectrum.
"So that’s a strength of our society and we should make an effort to reach out to these individuals so that they too know they can fulfill their dreams of owning (a home), it is not out of their reach," she said.
- CNA/cc/ck -
Emelyn:
Are you refering to those under CSC Medical Scheme ? Or was it called MSO ?
Nope, not insurance.Funz:
[quote=\"limlim\"]
Just buy a $500/mth premium insurance scheme with hospitalisation plan..
The surgery can even be FOC..
Can peasants afford or willing to pay for that kind of premium hospitalisation plans? If you're not sick or require medical treatment, the money is down the drain.
If no insurance related plan.. the $8 is a joke.. really..
And there are more people I know who have that kind of benefits.
If yes, my dad has it. And his medical bills are covered by govt. He used to be a civil servant. I believe there is no longer such a medical scheme. Maybe only for \"selected\" groups of people. :evil:
If you are in private sector, there is no such benefit.[/quote]Why talk about it if it only applies to selected few people instead of the general population?
Might as well say bungalow is affordable bcoz there are pple who can afford it.. -
Daddy
Those pension scheme civil servants... Dun compare lah... Elite minority...
The 2-rm hdb... How many eligible and benefitted from the subsidies? Also not majority...
The rest who dun qualify one... Must catch up?
:?
The grant of up to $40k is for any first time buyer of HDB flat qualifies. Not only 2rm , my niece who bought a 3rm new flat had grant of $35K also.
Additional CPF Housing Grant (AHG) Scheme is an additional subsidy over and above the prevailing CPF Housing Grant for Family.
The AHG is meant to provide help for the lower income Singapore citizen families with extra help who:
Have a steady household income, and
Need help to buy their first subsidised HDB flat
Eligible first-timers can use the AHG amount (up to $40,000) to offset the price of a resale or new HDB flat, thereby reducing the loan a flat buyer needs.
Amount of Additional CPF Housing Grant (AHG)
The amount of AHG you will be eligible for is graded based on your average gross monthly household income as follows:
Average Monthly Gross Household Income up to $5000* eligible for AHG with effect from 6 Feb 2009**
Household income (AHG)
$1,500 or less ($40,000)
$1,501 - $2,000 ($35,000 )
$2,001 - $2,500 ($30,000)
$2,501 - $3,000 ($25,000)
$3,001 - $3,500 ($20,000)
$3,501 - $4,000 ($15,000)
$4,001 - $4,500 - ($10,000)
$4,501 - $5,000 - ($ 5,000)
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