are we grateful?

[An drew]

This remind me of the monkey and banana story.
Feed Monkey 3 in the morning
It does not matter how many percent from employer and how many percent from employee. If the govenment says the employer is to pay the entire 36% will employees be very happy like the monkeys?
As far as employers are concerned, all these are salary costs. Salaries will just be adjusted accordingly.
Anyway I think CPF is a good thing even if I never see the money again. It makes our government rich and they can use this money to buy up Citibank, Barclays bank, etc,

 

[pachero]

It is because they allow you to use your CPF for housing that housing prices can rise correspondingly. This money too you do not see unless you suddenly don't need housing. If the government allow us to use CPF for COE and the price of COE then rise to 200k is that helping us?

This money that I do not see can actually help me to generate at least a couple hundred of thousand cash if I want to now. I can sell it off, pay a high COV for the next flat, say $80k, and still have a balance in excess of $100-200k. Then finance the next flat using 100% CPF for installment and keep the cash proceed warm warm in my bank account.

If you look around the world, we are probably the only country where first-time buyers of public housing are almost guaranteed of profit when they sell their property. That's why many people here do it. But sadly, many spent the cash proceed away blindly and stupidly, then starts to blame the whole world. It's one person one chance if you ask me, and if you choose to exercise that chance wrongly, nobody is to be blamed.

The key thing which I felt needs to be changed is the ratio of housing price:salary. Right now our ratio is among the highest, if not highest, in the world. I have no worries about housing now, but the same cannot be said when my children grows up. The thought itself is pretty scary...

We all will have unhappiness, regardless of whether it's with your superior, customers, company, MP or government. I have my fair share too...but all I can say is, after having travelled pretty frequently, I will only want Singapore as my home.

 

[Yutaka Go]

Singaporean are grateful jobs are given to foreigners so that they don't have to work :bsmilie:

 

[An drew]

I have no worries about housing now, but the same cannot be said when my children grows up. The thought itself is pretty scary...

I think we better buy a house for each of our children.

 

[skeeg]

Ah yes, the problems of the First World.

 

[Rashkae]

I detest the spread of propaganda in CS ........... phui phui ..........

Which country's citizens pay the Government 20% of their monthly income .....and never to see it again .........

.... got it off my chest ..... this thread will be history .....sooner than you think ............ :devil:

Almost all countries in europe, and the other asian countries, and south america, etc, all pay HIGHER taxes and just see it go to lakefront properties and cars for their senators.

I do see where the taxes here in SG go to. If you don't, please live in Manila for a few years.

 

[yqt]

It is because they allow you to use your CPF for housing that housing prices can rise correspondingly. This money too you do not see unless you suddenly don't need housing. If the government allow us to use CPF for COE and the price of COE then rise to 200k is that helping us?

Because of CPF most of us can buy our own HDB home compaired to other countries, they could only rent and not buy, including the west where housing cost is lower than in SG.

I don't agreed with a lot of things the gov is doing ie; upgrading only for PA* ward, high minister pay, schooling stress, etc, but I'm grateful that we're very much better off than most countries

 

[Sito82]

it is just our culture to complain and complain Heng I got CPF so my gf and I can apply our 5 room flat. I feel safe here in singapore and with a stable job. Over all I am a happy Singaporean..

Bottomline: everyone seems to be complaining but no one seems to want to leave.

 

[yqt]

Almost all countries in europe, and the other asian countries, and south america, etc, all pay HIGHER taxes and just see it go to lakefront properties and cars for their senators.

I do see where the taxes here in SG go to. If you don't, please live in Manila for a few years.

No need to go so far, just take a road trip up north and you will see the diff.:bsmilie:

 

[Sito82]

Are you sure? Do you have no jobs? Nowadays Singaporean can find jobs pretty easily

because we have enough manpower due to foreigners that is why companies invest here.. You don't really see Singaporean without jobs.. in fact we got more jobs than people.. All of my friends are executives and managers .. all got degrees and doing well . I think our government spolit us too much

Singaporean are grateful jobs are given to foreigners so that they don't have to work :bsmilie:

 

[pachero]

No need to go so far, just take a road trip up north and you will see the diff.:bsmilie:

In JB there are many people who only can afford down payment for their houses after crossing 40 years old mark. Many live in rented houses. This is due to the "success" of their EPF system....nobody wants to contribute

 

[qystan]

........ I did not ... you are the one who sounds so serious ....... Anyway, is CPF your money and do you get to use it at free will before you reach 65 and beyond? Are you not able to manage your own funds at 40 or maybe 50 years of age?

Yes you can and no need to wait until 40. You can invest in properties, stocks, gold, insurance, unit trusts.

Don't tell me no money for that. If no money in CPF then how does the gov take your no money???

 

[ed9119]

I think we better buy a house for each of our children.

the reality of the matter which most people dont like to or rarely talk about is that ..... present homeowners (yes YOU and ME) AND OUR PARENTS ...will eventually die and pass on .... and with a growth replacement rate of barely 1:1 over the long run a good percentage of our children will inherit our home and if a single-child marries another single-child .... the couple ends up with 2 properties .... the sheer number of 1-child families will sort this housing problem out naturally eventually

alot of my Japanese friends of about same age as myself (50+) are already experiencing this .... owning their own apartment and an additional 1 (and eventually 2) property from their respective parents who have passed on and with 1 or no children

you do the maths and demographics .....

 

[Will03]

sometimes people always complain how tough life is like in singapore..
but are these people spending beyond their means ? thats y life is tough ?
look at how fast new camera models get snapped up ... look at the number of cars on the road..
granted.. some people might see it necessary to buy a car... but can buy a small car than a big one ?
look at how singaporeans are snapping up luxurious goods, travelling etc etc..

no doubt.. after all these spending... it will put a strain to our pockets.. but.. if
we control our spending.. maybe we would find it less stressful financially...

 

[An drew]

the reality of the matter which most people dont like to or rarely talk about is that ..... present homeowners (yes YOU and ME) AND OUR PARENTS ...will eventually die and pass on .... and with a growth replacement rate of barely 1:1 over the long run a good percentage of our children will inherit our home and if a single-child marries another single-child .... the couple ends up with 2 properties .... the sheer number of 1-child families will sort this housing problem out naturally eventually

alot of my Japanese friends of about same age as myself (50+) are already experiencing this .... owning their own apartment and an additional 1 (and eventually 2) property from their respective parents who have passed on and with 1 or no children

you do the maths and demographics .....

Unfortunately for me, both my parents' and my property are not freehold or 999 years. They will not even be sufficent to last the life-span of my kids. Perhaps HDB should change their lease to 199 years.

 

[brapodam]

Every country has its own pros and cons; this is a never ending debate. Things are comparatively cheaper and expensive everywhere.

Housing and cars are extremely expensive in SG but luxuries like DSLRs are about the same price as in other countries. So comparatively, luxuries are cheaper to purchase in SG. So Singaporeans purchase a lot of luxuries, making it seem like Singaporeans are actually very rich when in fact, they are still struggling with their HDB loan.

 

[Yutaka Go]

Are you sure? Do you have no jobs? Nowadays Singaporean can find jobs pretty easily

because we have enough manpower due to foreigners that is why companies invest here.. You don't really see Singaporean without jobs.. in fact we got more jobs than people.. All of my friends are executives and managers .. all got degrees and doing well . I think our government spolit us too much

if you only socialize with people who do well. You won't see those that hit the bottom :bsmilie:

How big is your social circle ???

 

[edutilos-]

It is because they allow you to use your CPF for housing that housing prices can rise correspondingly. This money too you do not see unless you suddenly don't need housing. If the government allow us to use CPF for COE and the price of COE then rise to 200k is that helping us?

I don't quite get your point. So if they don't have CPF, the situation would be different?

 

[diver-hloc]

the reality of the matter which most people dont like to or rarely talk about is that ..... present homeowners (yes YOU and ME) AND OUR PARENTS ...will eventually die and pass on .... and with a growth replacement rate of barely 1:1 over the long run a good percentage of our children will inherit our home and if a single-child marries another single-child .... the couple ends up with 2 properties .... the sheer number of 1-child families will sort this housing problem out naturally eventually

alot of my Japanese friends of about same age as myself (50+) are already experiencing this .... owning their own apartment and an additional 1 (and eventually 2) property from their respective parents who have passed on and with 1 or no children

you do the maths and demographics .....

Owning your parents property would be unlikely... as most aging parent would likely sell and downgrade their property after children have their own families.. and use the money for retirement. Or at least that's what I plan to do... :think:

 

[An drew]

I don't quite get your point. So if they don't have CPF, the situation would be different?

About 8 years ago I audited a HDB project and was surprised to find that it only cost HDB 20k to build each flat. The prices of things depends on many factors, one of which is how much money that the buyer can raise and also supply and demand. So if you put more money into the buyers' hands in terms of loans or CPF etc, the price will just go up. How much do you think HDB will value and sell flats if every Singaporean can borrow a few million bucks from banks or draw from their CPF?