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Why 60% continue to vote for PAP until they discover only ~3% can sell their HDB flats profitably, the rest cannot due to short 99 year lease already partly used up

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  • Robert HO
    Why 60% continue to vote for PAP December 30th, 2012 | Author:
    Message 1 of 1 , Dec 30, 2012

      Why 60% continue to vote for PAP

      Now you know why 60% Sinkie dafts continue to vote PAPies.

      Basically all those who buy property within the last 20 years will vote PAPies becoz they want to see their property price keep going up. Sinkies are selfish and self-centered animals — even if they know that PAPies policies are fucked up and hurting many other people, they don’t give a shit as long as they themselves continue to benefit.

      Those who bought properties within the last 3 years lagi worse as they have bought properties at a market high. They will die-die vote PAPies in order to maintain status quo and continue driving up property prices even if PAPies gang-rape their daughters and mothers.

      Only those who bought property in the 1970s and 1980s when prices were affordable will be willing to vote for Opposition. This is one major reason why PAPies are getting more and more suspicious about the older generation, and want to sideline them by mass importing younger foreigners and trying to convert the foreigners into new citizens.

      But you know what is the funny thing?? No matter who you vote for, nobody can change the natural law of business cycles and the cycle of nature. Property prices will continue to shoot up till mid-2013. This will make everyone damn happy, especially the banksters and PAPies. The “wealth effect” from property will also flow into other sectors and industries. Many people will be getting big salary increments and bonuses. Many Sinkies will feel rich.

      But from end-2013 to mid-2015, there will be major worldwide recession. Sinkie property prices will drop by at least 25% during this 1.5 years to mid-2015. The next recession will be a bad one as all the major countries have already used up all their ammo in fighting the last financial crisis. S’pore govt will not be so generous in helping all the soon-to-be-bankrupt SMEs and jobless Sinkies. Even if it wants to be generous, it will be a “measured and calculated” amount as S’pore govt debts already over 100% of GDP.

      Hence, the next recession will see a lot of Sinkies lose their jobs. And many FTrash will also lose their jobs and go home. Many FTrash will also run road on their loans and payments, e.g. rentals, credit card payments, utility bills, phone bills, property loans, car loans, etc. Just like in Dubai during 2008/2009. All this will cause SG property market to go into cardiac arrest and drop by SUSTAINED 25% at least. During the last recession in 2008/2009, condo prices drop by only 20%-25% for barely 6 months (Oct 2008 to Mar 2009). Why? Thanks to the TRILLIONS of dollars pumped out by US, China, EU, Japan. This ability and the effect will be much weaker the next recession.

      Of course the Sinkie dafts will continue to believe that PAPies will rescue them and bring a golden age to their lives. The good news for those who are prepared or who can continue keeping large amounts of cash, is that the next long-term sustainable secular bull market (for both equities and property) will begin in 2015/2016.
      .

      Anon

      * Comment first appeared in: EC penthouse sold for record $2.05M an hour after launch


      ---------- Forwarded message ----------
      From: Robert HO <robert.ic019@...>
      Date: 31 December 2012 10:38

      Subject: Must Read: A whopping 86,730 PRs gave up their permanent residency, sold off their HDB flats for huge profits and migrated to better, safer, countries

      Growth in PRs and foreign-born citizens

       December 30th, 2012 |  Author: Contributions

      In the section on “Population Growing at a slower Pace“ of the Ministry of Finance’s second issue of the Singapore Public Sector Outcomes Review(SPOR), I cannot find any mention of the increase in the foreign population, although there is a graph showing the increase for citizens, permanent residents (PRs) and foreigners.

      It also said “The number of new citizens and permanent residents each year depends on various factors, including the number of applications and the profile and calibre of applicants. Applicants are assessed on whether they can contribute to and integrate well into our society, as well as their commitment to sinking roots in Singapore”.

      Percentage of foreign-born new citizen

      Although the number of citizens grew by 5.1% from 3.13 million in 2007 to 3.29 million in 2012, we don’t know much of this growth was due to the 92,310 new citizenships granted during this period

      Foreign population

      In contrast, the foreign population grew much more by 47.5% from 1.01 to 1.49 million, and PRs grew by 17.8% from 450.000 to 530,000.

      The graph on page 24 of the SPOR report indicates that the total number of PRs granted was 259,040. So, with 259,040 new PRs granted, why did the PRs population only grow by 80,000? Even if we assume that all the 92,310 new citizens were all PRs, which is not possible because some become new citizens without being PRs first, we are still missing 86,730 PRs.

      PRs sell HDB flats and move on?

      Could it be that more than 86,730 PRs gave up their permanent residency? And of course PRs who leave may sell their HDB flats for a profit and withdraw their CPF too.

      So, what does this tell you about “Applicants are assessed on whether they can contribute to and integrate well into our society, as well as their commitment to sinking roots in Singapore”?

      .

      Leong Sze Hian

      Leong Sze Hian is the Past President of the Society of Financial Service Professionals, an alumnus of Harvard University, Wharton Fellow, SEACeM Fellow and an author of 4 books. He is frequently quoted in the media. He has also been invited to speak more than 100 times in 25 countries on 5 continents. He has served as Honorary Consul of Jamaica, Chairman of the Institute of Administrative Management, and founding advisor to the Financial Planning Associations of Brunei and Indonesia. He has 3 Masters, 2 Bachelors degrees and 13 professional qualifications. He blogs at http://www.leongszehian.com.

      ///////////////////////

      09 February 2010

      Stupidest govt of all time

      RH:
      1. Foreigners have known for a long time that Singapore PR is the most profitable in the world. Since in almost all human affairs, what is profitable for one group is invariable at the expense of another/others, this phenomenon totally screws us local Singaporeans, as in all zero sum games.

      2. This phenomenon did not arise by chance, since EVERYTHING is controlled in Singapore. Not that what I am about to explain has been thought out by LIE KY 2A1B WKS MBT or any of the other crony Ministers. They are simply too stupid and incompetent for such elegant logic and arguments, obvious though these are once explained. Theirs has been 50 years of "big doses of incompetent govt", and then some.

      3. For example, they have been raising the prices of HDB and private housing all along, as all monopolies are wont to do. But the extremes of such deliberate, planned and controlled price increases were after the announcement of the so-called ha3 "asset enhancement scheme", which is simply deliberate huge increases in HDB flat prices year after year after year, resulting in the recent Temasek Review news reports on S$990,000 and S$999,000 asking prices for old, 5-room HDB flats [many years lived in], into their 99-year leases.

      4. This asset enhancement scheme of yearly, huge price increases led to an almost perfect predictability of housing prices, never smart for any economy nor possible since all other economies allow free competition and supply & demand forces to affect prices whereas our LIEgime totally controls every aspect of our economy, esp housing prices. Plus, they never thought to restrict speculation or discourage flipping of houses, mostly because the Ministers and the elite classes are heavily involved in these very profitable ventures. LIE KY LHL LWL and their many relatives were, for example, corruptly buying luxury condos from HPL at illegal discounts for speculation profits, since they all have many houses, so not for living in. "For investment" explains LIE KY, meaning for speculation profits. Buy low, sell high, in other words. So, without discouragement of speculation, HDB and private property became a sure way to increase wealth, on paper, at least, since the LIEgime controlled prices so well these kept rising, and very rapidly. Their main method is to restrict supply of HDB flats and sale of govt land for condos. So much so that in 2008, they built only 3,183 HDB flats while accepting 90,000 new PRs and 20,000 new citizens, not to mention our local couples who need homes to build families. Prices soared and soared to the ~S$1m for HDB 5-rooms.

      5. Most foreigners know this because a flat is THE main consideration when they come to Singapore. Once they cotton on to the fact that HDB and private property prices ALWAYS rise, as even in last year's 2009 recession, then the obvious thing is to buy a flat as quickly as possible. For most foreigners, this means applying for PR quick. So, since the LIEgime saw each PR application as a kind of endorsement of their LIEgime and is flattered, they oblige as quickly [the truth is simpler -- it's just to make a killing]. This explains why there are far more applications for PR than citizenship. You can always give up your PR and return home AND SELL YOUR FLAT FOR A HUGE PROFIT which you cannot once you give up your foreign citizenship. Some do apply for citizenship for the benefits, but like Temasek Reviewpointed out, a foreign couple always keeps 1 of the couple's original, foreign, citizenship so they enjoy the best of both worlds, and can always return home, selling their flat for a huge profit. Again, the LIEgime is flattered that some foreigners apply for citizenship and goes into a tizzy at this 'endorsement' of their govt and policies, when the truth is simply to make a killing.

      6. With the most pro-foreigner policies in the world [and by zero sum game the most anti-citizen policies in the world], the foreigner never had it this good anywhere in the world. He is given all the help, from free scholarships to study in our universities thus depriving our citizens of places -- many foreign students are actually brought in from even younger, into secondary schools; to finding jobs, to applying for PR, often granted in a few months with few questions asked, in prob the highest 'success rate' and fewest rejections, in the world.

      7. Since PR allows the purchase of HDB flats, almost all foreigners apply, which flatters the LIEgime, which considers this an endorsement of their LIEgime. But every PR or half-spouse-citizen finds that even as the lure of huge profits from flipping property make it imperative to apply for PR, they cannot realise their profit as long as they stay here, so there is a countervailing imperative to leave, and sell their flat to take profit. This explains the high rate of 'quitters' who, after tiring of this tiny islet of 700 sq km [about 230 sq miles], and all its suffocating culture and infreedoms, leave for greener pastures or even their original homelands.

      8. Thus, this story of the foreigner is one of huge profits while we citizens, who cannot easily uproot and quit, have no such profits to make since we cannot sell our flat without having to buy another, at even more ridiculous prices, now soon to breach S$1m for what's left of an old HDB 99-year lease. Worse, because the prices are constantly and rapidly rising, new couples wanting to get married and set up home have to compete with deliberate govt under-supply of flats, foreigners who are willing to pay any price knowing that in just a few years, they will not only recoup their purchase price but make a killing as well, we citizens are well and truly screwed.

      9. Can there ever be a bigger "dose of incompetent govt", a govt as stupid as ours, in the entire history of govt? I rest my case.

      Robert HO; S0197974D; 9 Feb 10.


      Footnote 13 Feb 10: RH: That the LIEgime built only 3,183 flats in 2008 is totally incomprehensible. That this 3,183 is only a tiny fraction of what is needed can be predicted as early as 1986 -- when 38,379 babies were born. They would now be ~24 years old, coupling into ~19,000 couples so needing ~19,000 flats [actual 2008 marriages = 24,596, close to what could have been predicted from the 1980s. Not that 1986 was special -- other than my son's birth -- the ~40,000 babies is a longtime constant so doesnt take a Great Forecaster to see]. Add in the insane 90,000 new PRs in 2008 and another 20,000 new citizens and you have the STUPIDEST GOVT OF ALL TIME!!! Note: I have not factored in deaths because deaths do not add much to the supply of flats every year. Nor have I factored in private housing since they are so expensive 82% are forced to live in tiny HDB flats built by the govt monopoly.

      [Added 31 Oct 2011]:
      RH:
      1. On Sat 19 Mar 2011, just before the General Election on 7 May 2011, LIE KY made the mind-bogglingly 'stupid and incompetent' promise that "85% [actually 82%] of Singaporeans are living in HDB [public housing] flats and we intend to keep the values of these homes up. IT WILL NEVER GO DOWN."

      2. That this is impossible is obvious upon a few seconds' thinking. For example, since all HDB flats are leasehold for 99 years, obviously if your flat has only, say, 10 years, or 20 years, or 30 years of lease left, you can never sell it for a higher price than you bought it. Obviously. In fact, the general experience and understanding is that HDB flats over 30 years are unsellable, let alone fetch a price higher than the owner paid for it.

      3. Yet LIE KY was not just being his typical 'stupid and incompetent' self. He was merely proclaiming a fundamental policy that is:

      a. the centrepiece and key to all his economic policies

      b. key to his amassing huge 'reserves', which are actually just a loan-transfer from the CPF, which itself is merely a temporary repository of the CPF members' compulsory [about 36% of every paycheque] savings, allowed for paying HDB mortgages, hence most people are yet to begin fighting against this expropriation of their paycheques, nor do they realise it IS expropriation

      c. this huge 'reserves' other half being made up of ever-increasing [and ridiculously overpriced, BY MANY MULTIPLES] prices of HDB public housing flats sold to citizens and PRs at unbelievably humongous, profiteering and rapacious profits

      4. Thus, to repeat this important para 3, LIE KY central economic policy is huge reserves made up of borrowing the entire CPF treasure chest for him to use as he wants [mostly to buy a huge red-carpet welcome from other countries and foreign companies greedy for his 'investments'] + further building up huge reserves by charging ridiculous prices for his tiny public housing HDB flats. With this much monies, he also uses it to choose winners and losers in luring sexy 'industries' [usually just a half dozen factories] that he thinks make him Look Good, such as 'high techs', etc. He also spends some money on other Look Goods, such as a clean and modern city. Thus, overpriced public housing is central to ALL his economic policies. Understand this and you understand how Singapore economy works and once you understand this, you also understand how Singapore politics works and from this, how every branch of Singapore Govt works, from education to labour to the huge influx of foreign workers. LEEism is exceeding simple and utterly Stupid and Incompetent.

      5. Thus, so central is Overpriced and Ever-Rising HDB public housing prices that it is the Most Important Single Policy in LEEism. This explains LIE KY promise on 19 Mar 2011. Although Minister for National Development [HDB] MAH Bow Tan was sacked after the election, he was just the scapegoat, as is usual. His policy of deliberate and massive undersupply of HDB flats was not his alone. It is the longtime and continuing LEEism from LIE KY himself and implemented [the entire Cabinet and govt down are all just Implementors without a single Originator or Thinker, which honour and right is reserved for LIE KY alone]. LIE KY is responsible for EVERYTHING, including the massive undersupply of HDB public housing flats.

      6. Like every economic policy, a single major policy can distort the entire economy, like in this case of deliberate overpricing of HDB public housing flats. Housing is always a major component of every economy and exaggeratedly so in a tiny city and tiny economy like Singapore. Given that the almighty, omnipresent and omniscient govt can control every single behaviour and policy in this tiny, over-governed city, and the Major Policy is to keep increasing HDB public housing prices, this necessitates deliberate undersupply of HDB flats, and simultaneously also ramping up demand with an influx of foreigners, while maintaining an absolute monopoly in housing 82% of the entire population, all in order to keep prices ever higher and higher and higher. Leading to the unbelievably ridiculous [see my Footnote of 13 Feb 2010 above].

      7. With LIE KY leading the charge, and abetted by his crony Ministers, the Singapore Govt also expertly [as always] 'managed perceptions' of the people, through heavy papaganda by all his controlled medias as well as every organ of influence. Thus, Singaporeans, who in the best of times, are the most stupid people on earth, bred and made that way for easier control and management, discouraged from criticising the govt and therefore all critical thinking, believed in certain fallacies:

      a. that HDB flats prices can and will keep rising as promised by LIE KY and his entire govt for decades, promoted by all the state medias who also absent any information that may contradict such beliefs

      b. that this is actual fact, that HDB prices keep rising, never mind that released selling prices represent ONLY SUCCESSFUL SALES while the vast majority of flats are either unsellable, cannot fetch high prices, or that owners cannot sell because they would have to pay even higher prices for their new replacement flat. For example, in 2010, only 32, 257 HDB flats were sold as Resale Flats while there were 1,007,229 HDB flats built altogether by 2010, giving 3.2%. Even if this ~3% successful HDB Resales fetched humongous profits over and above their original prices, it is stupid and incompetent of the govt and people to believe that this experience of the 3% represents a Reality for all 100% of HDB dwellers. But, thanks to relentless papaganda, the absence of critical thinking and even information, this is the prevailing reality. Singapore and the LIEgime are Myths and Illusions, cleverly and relentlessly papagated and usually believed

      c. a further distortion is the necessity to deliberately keep supply of HDB flats vastly below demand [see example in my above Footnote 13 Feb 2010]. This started off as simply monopoly greed, then became an economic mainstay and imperative because hugely profitable, then ballooned into a critical election decider and barometer of the peoples' fury, that went unrecognised and censored, silenced as only a tyrant LIEgime can effect, with the result that General Election May 2011 saw the LIEgime vote drop 6% to 60.14%, the lowest since independence. However, the LIEgime has repeatedly cheated in elections and no figures or results should be believed as genuine. Everything is 'managed' and manipulated

      d. thus, LIE KY promise to "never" let HDB flats prices "go down" is simply a political and economic imperative. As long as HDB prices of new flats keep rising inexorably and the 3% of Resale HDB flats prices seem high and 'profitable', buyers are content enough to keep paying ever-higher prices. After all, firstly, prices keep rising so nothing can be done about it except book a flat as soon as the couple becomes eligible. Secondly, as long as the 3% can keep selling at very high prices Resale, there is the hope that maybe, one day, if you do get to sell, you may make a handsome profit. In the meantime, there is the comforting belief that you own an appreciating asset, that is worth much more than you paid, if you ever need to sell. This, then, is the Psychology of HDB Owners. Like all irrational beliefs, it cannot stand up to a moment's logic but logic is never strong among sheep or "sheeple" as termed online. Keeping people stupid is key to stability and stability is good for the LIEgime because with stability, nothing changes and if nothing changes, then the LIE Dynasty rules forever. Hence Stability is the key virtue for dynasties.

      8. I have spent time and thought on HDB. It is important because it is THE central plank of LIE KY economic and therefore also, political strategy. Understand HDB and you understand much of LIE KY stupidity and incompetence and why Singapore is all just Bubbles and like all bubbles, will burst and collapse.


      -- 
      RH: ME ON VIDEO DESCRIBING lky lhl wks NUMEROUS ELECTION RIGGINGS:
      http://i-came-i-saw-i-solved-it.blogspot.com/search/label/Video%20RH%20on%20LKY%20LHL%20WKS%20cheating%20elections

      MY ACQUAINTANCE, MR DAVID DUCLOS, A FORMER POLICE INSPECTOR, AND HIS LAWYER FRIEND, EYEWITNESSED LEE KUAN YEW RIGGING THE 1997 CHENG SAN GRC ELECTION. READ MORE AT MY BLOG ENTITLED "I CAME, I SAW, I SOLVED IT" :
      http://i-came-i-saw-i-solved-it.blogspot.com/

      MY ONLINE POLICE REPORT ON LKY LHL WKS CHEATING ELECTIONS:
      http://i-came-i-saw-i-solved-it.blogspot.com/2009/06/police-report-lee-ky-lhl-wks-cheating_02.html

      THE MOST COMPLETE RUBBISHING OF LEEconomics EVER:
      http://i-came-i-saw-i-wrote-it.blogspot.com/2009/06/most-complete-rubbishing-of-leeconomics.html

      [ALSO AT THE ABOVE BLOG, LIE KUAN YEW's LIES, CORRUPTION, WRONGFUL JAILING, TORTURE AND BEATING TO DEATH OF INNOCENT POLITICAL PRISONERS LIKE MR CHAN HOCK HUA]

      READ ALSO MARTYN SEE's INTERVIEW WITH ME AT:
      http://singaporerebel.blogspot.com/

      ALSO AT:
      http://i-came-i-saw-i-wrote-it.blogspot.com/2007/03/filmmaker-martyn-see-interviews-robert.html

      FOR QUICK, IRREVERENT REASONS WHY LIE KY DESERVES A NOBEL:
      http://i-came-i-saw-i-solved-it.blogspot.com/search/label/Not%20nominated%20for%20a%20Nobel%20so%20LIE%20KY%20gives%20himself%20many%20others

      MY ARCHIVE OF WORKS AT:
      http://i-came-i-saw-i-wrote-it.blogspot.com/

      PHOTOS OF LIE KY SCRATCHING MY WIFE's NEW CAR:
      http://i-came-i-saw-i-solved-it.blogspot.com/search/label/LIE%20KY%20scratched%20my%20car%20S%242800%20to%20repair

      NOT GUILTY BUT TORTURED, DEGRADED 15 YEARS FOR PUBLICITY, FUN
      http://i-came-i-saw-i-solved-it.blogspot.com/2009/05/not-guilty-but-tortured-degraded-15.html

      WHY SINGAPORE HAS NO ECONOMY
      http://i-came-i-saw-i-solved-it.blogspot.com/2009/10/why-singapore-has-no-economy.html
      .
      --
      >>>>>>>>>>  TO HELP ME, COMPLETE THESE STATEMENTS, THANKS:  http://roberthorequestforstatements.blogspot.com/

      My wife, an accountant, then a manager in an MNC drawing a 5-figure salary before she retired, can confirm that I write the Truth in all these.  <<<<<<<<<<

      RH:   LKY LHL WKS ELECTION RIGGINGS EMAILED TO ALMOST ENTIRE GOVT:
      http://i-came-i-saw-i-solved-it.blogspot.com/2010/06/lky-lhl-wks-election-riggings-emailed.html

      ME ON VIDEO DESCRIBING lky lhl wks NUMEROUS ELECTION RIGGINGS + PoBoB and CCTV Ideas:
      http://i-came-i-saw-i-solved-it.blogspot.com/search/label/%22A%20Video%20RH%20on%20LKY%20LHL%20WKS%20cheating%20elections%20%2B%20PoBoB%20and%20CCTV%20Ideas%22

      http://www.youtube.com/watch?v=jQCab3QZbBk

      MY ACQUAINTANCE, MR DAVID DUCLOS, A FORMER POLICE INSPECTOR, AND HIS LAWYER FRIEND, EYEWITNESSED LEE KUAN YEW RIGGING THE 1997 CHENG SAN GRC ELECTION.  READ MORE AT MY BLOG ENTITLED "I CAME, I SAW, I SOLVED IT" : 

      b.  SWORN EXHIBIT IN SUPPORT OF AFFIDAVIT:

      c.  SOME LEGAL PRINCIPLES ON WHICH I GROUND MY CASE:

      d.  THE PATTERN OF CRIMINAL WRONGDOINGS THAT PROVES MY CASE;

      e.  3rd EMAIL TO UK PM FOR OBSTRUCTING, PERVERTING JUSTICE:

      LEE Kuan Yew, LEE Hsien Loong, Tony TAN, HO Ching corruptions and theft of billions:

      "THE PRIMAL FEAR OF A SUPERIOR MIND"



      --
      >>>>>>>>>>  TO HELP ME, COMPLETE THESE STATEMENTS, THANKS:  http://roberthorequestforstatements.blogspot.com/

      My wife, an accountant, then a manager in an MNC drawing a 5-figure salary before she retired, can confirm that I write the Truth in all these.  <<<<<<<<<<

      RH:   LKY LHL WKS ELECTION RIGGINGS EMAILED TO ALMOST ENTIRE GOVT:
      http://i-came-i-saw-i-solved-it.blogspot.com/2010/06/lky-lhl-wks-election-riggings-emailed.html

      ME ON VIDEO DESCRIBING lky lhl wks NUMEROUS ELECTION RIGGINGS + PoBoB and CCTV Ideas:
      http://i-came-i-saw-i-solved-it.blogspot.com/search/label/%22A%20Video%20RH%20on%20LKY%20LHL%20WKS%20cheating%20elections%20%2B%20PoBoB%20and%20CCTV%20Ideas%22

      http://www.youtube.com/watch?v=jQCab3QZbBk

      MY ACQUAINTANCE, MR DAVID DUCLOS, A FORMER POLICE INSPECTOR, AND HIS LAWYER FRIEND, EYEWITNESSED LEE KUAN YEW RIGGING THE 1997 CHENG SAN GRC ELECTION.  READ MORE AT MY BLOG ENTITLED "I CAME, I SAW, I SOLVED IT" : 

      b.  SWORN EXHIBIT IN SUPPORT OF AFFIDAVIT:

      c.  SOME LEGAL PRINCIPLES ON WHICH I GROUND MY CASE:

      d.  THE PATTERN OF CRIMINAL WRONGDOINGS THAT PROVES MY CASE;

      e.  3rd EMAIL TO UK PM FOR OBSTRUCTING, PERVERTING JUSTICE:

      LEE Kuan Yew, LEE Hsien Loong, Tony TAN, HO Ching corruptions and theft of billions:

      "THE PRIMAL FEAR OF A SUPERIOR MIND"
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