most singaporeans are asset rich but cash poor. why? our cpfs which are meant to fend for retirement and twiligiht years were craftily zapped up by ridiculously high priced hdb pigeonholes. talking about gov subsidised flats....what a big joke and a big con job!
why does gov clueless to bring down prices? they can if they want and they don't if they want too. let's talk about the don'ts.
hdb prices are like a pandora box. once opened, it's very difficult to close and hdb prices go haywire to absolute craze and frenziness. those who ve bought greed for it to go higher; those who haven't pray for it to drop or at least stablise and halt at the last price.
so there u have it: the gov is CLUELESS to resolve the problem which it didn't nip in the beginning. if they stop the prices from rising, new owners of exorbitant pigeonholes shall definitely be unhappy and they shall make lots of noise. conversely, leaving the prices to run wild (or is it the gov behind fanning the madness?), those who haven't owned a pigeonhole - the new generation planning for a new family of their own - are put into a dilemma.
then what happen to all our cpfs? are the life savings still there when twilight years are reached? NO! absolutely not!! what's there is an overpriced "subsidised" gov pigeonhole which price is getting higher but size is getting smaller.
million dollars paid minister seems clueless. well, perhaps my suggestion may come in handy.
step 1. STOP THE SPECULATION.
once a family bought a flat and after staying some years decide to
sell, the only buyer would be buying back is the gov. then the gov resells it adding a nominal processing and legal fees. no obscene profits involved, hence no more speculation and easy money made. of course, such would only be restricted to purely singaporeans. no PRs'entitlements to such non-profitable transaction.
HOW TO RETRIEVE OUR CPF
most of our cpf money would still be tied down by the pigeonhole. here's a simple solution.
gov should build smaller and cheaper flats for home owners to consider when they age. example: if mr A now at 36yo sets up family with 2 kids and 20 or 30 yrs later, his kids would ve grown, married and resettled in newly hdbs or remain single or most probably mr A would be left living with his wife. if he is living in a 5 or 4 rooms flats, by then, the flat would be too excessive to him. he could consider an exchange program with hdb. he sells his flats to hdb, get back the money he used from cpfs and buy a smaller "senior-folk-flats" from hdb. SFF unit would be smaller and much cheaper with shorter lease of say, 30yrs. hdb deducts the amount from the sale price, refund mr A who would then be financially independent with the cpf money to live on.
in the event of both couple passed on, the SFF should be resold to HDB to be recycled to the next qualified senior folks. the money derived from SFF should then be refund to the children of the demised mr A.
this could probably also solve the greying problem of singapore and put a full stop to crazy hdb flats speculation. of course, the finer details, the minister would ve to work it out. he's the one getting the million $ pay, not me. and yes, if it's a good workable plan, he should reward me with some honararium. :)
this principle of the plan is 4 folds:
1. stop speculation
2. free up oversize flat that later is irrelevant to the number of occupants especially aged owners who children would ve by then left the roost.
3.provide a suitable sized hdb flats with shorter lease to the aged owners and free up the money tied by his original bigger flats. he now has a roof over him and money to see him through his twilight years.
4. refund what money accrued from Senior-folks-flats (SFF) back to demised owner's family or children.
with that hdb would have successfully done its part instead of turning subsidised gov flats into a greed instrument causing so much undue stress and anxiety to all singaoreans.