28 March 2012

HDB Resale Flats - Public or Private Housing?

I think HDB has to be honest and reveal their master plan for resale HDB flat. Looking at the direction that resale flat is going, makes me wonder if one day they will decide to simply privatize resale flats. Just take away the subsidies and regulations and they can turn resale flats into condominiums. Who knows, maybe residents can setup their own management community, build swimming pools right below the block, put up fences and hire a few Ah Neh security guards to protect the block.

It's an obvious contradiction here, is resale flat supposed to be public housing or private housing? It's a public housing that can be sold like a private housing, seller can set any price they wish. Market valuation is pointless to a buyer since there is COV, actually also pointless for the seller since they can set whatever amount they wish.

If they still wish to refer to resale flat as public housing, I would expect HDB to do away with COV and strictly allow sales to proceed with ONLY valuation price. Don't valuation already consider the location, amenities, interior, special features, level and etc of a flat? Sellers who are trying to obtain a higher value for their flat, based on factors that were already covered by valuation, isn't that sheer greed? Seriously, if I am a seller, of course I would say my flat is in good location, excellent renovation and etc, and I want XXk COV, why? I want more money, who doesn't? Isn't that sheer greed? Who doesn't want to make a profit when you can, even at the expense of jacking up resale prices, causing the younger generation to have problem owning their first flat?

HDB, please, resale flat is not kway teow, please don't let people char kway teow, time to pick up the balls that dropped everywhere and step in to control, just step in, I will be first person to support, that is if HDB still consider resale flat as public housing... making homes affordable and sustainable... providing homes for Singaporeans... especially for the younger generation to start a family... and for the elderly to retire in peace...

放下屠刀 立地成佛 - Put down the chopper and become Buddha

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