Singles' Policy

[zirhk3355 1]

Interestingly, there is a very high chance that a grad will get more than $3k after 5 years and pretty likely for combined income to exceed $8k in the same period. What does this mean? I guess the policy 'encourages' people to get married early to enjoy the 'benefits' of the policy. With the current trend of later marriages and the economy picking up, quite a few people will be affected (close to 10% assuming household with >$10k don't need HDB).

Then we are back to the same argument again; should young people be encouraged to get married in order to benefit financially?

Like you mentioned about the trend of people getting married older, say at ages of 30-something, at the same time its very likely that a good number of these couples who 'finally' got together will be earning just over-$8k/mth and not eligible for HDB loans. But frankly, with our escalating daily expenses, do you really think a couple can be comfortable paying bank's high interests with a combined income of just over-$8k/mth? Next implication: Do you think they will want to have a child??

Unfortunately, public policies will not be able to keep everyone happy. Further analysis is left as an exercise for the reader

Very true, but at least they must 'try' to make most people happy, right? I mean, if they come up with a policy and only like 10% are adversely affected, then maybe its good. But if like more than half of the population are adversely affected by the new policy and all scrambling to see the MP for help, then something must be wrong!

[raincole 0]

For those that fall out of the income ceiling, please think about those whom didn't. The income gap is widening, thus if HDB does increase the income ceiling, it will means that those who needs help will be over-looked.

[pencil 1]

For those that fall out of the income ceiling, please think about those whom didn't. The income gap is widening, thus if HDB does increase the income ceiling, it will means that those who needs help will be over-looked.

Just trying to offer an alternative view here and not trying to suggest that the income ceiling should be modified. With rising private housing prices, combined income of $8k/m will not be sufficient without over-extending.

So you've a group of people who are too 'rich' to be eligible for HDB loans and new HDB flats but are too 'poor' to buy condos or landed property. So in a way, they will be some who are worse off than those who earns $7999.

This just means that there is a gap somewhere in the overall policy which isn't easy to fix. Afterall, rich or poor, Singaporeans are citizens and your tax money should be used to improve everyone's life including your own.

[raincole 0]

Try living within your means. They are still entitle to buy resale HDB not necessary buying condo or landed property, just not new HDB.

[Phantom 1]

Just trying to offer an alternative view here and not trying to suggest that the income ceiling should be modified. With rising private housing prices, combined income of $8k/m will not be sufficient without over-extending.

So you've a group of people who are too 'rich' to be eligible for HDB loans and new HDB flats but are too 'poor' to buy condos or landed property. So in a way, they will be some who are worse off than those who earns $7999.

This just means that there is a gap somewhere in the overall policy which isn't easy to fix. Afterall, rich or poor, Singaporeans are citizens and your tax money should be used to improve everyone's life including your own.

Actually if you are borderline around 10% above, that should still be easily fixed with an appeal should the application get rejected, have friends making more than 8k combined income but they argued on grounds of flexi-benefits/bonuses which are variable.

[ARCHer 0]

For those that fall out of the income ceiling, please think about those whom didn't. The income gap is widening, thus if HDB does increase the income ceiling, it will means that those who needs help will be over-looked.

Urrmmm..... raising the income ceiling just means that people with a higher income will be eligible to buy HDB. It does not necessarily mean that less help will be available for lower income people/family (particularly when there are unsold stock of HDB flats).

[raincole 0]

Even with the raising of the income ceiling, there are still unsold stock of HDB flats, on the lower floors. And how high should the ceiling change, there are always someone on the border and wanted to be in.

Even with the current limits, getting a HDB flat is already difficult. For 300 units, there can be over 3000 people balloting for it. Less help? No, less chance yes.

[ARCHer 0]

Even with the current limits, getting a HDB flat is already difficult. For 300 units, there can be over 3000 people balloting for it. Less help? No, less chance yes.

It's all a matter of demand and supply. If there is a genuine desire to help, then supply should not set at a level that will reduce the balloting chance, but at reducing the queue of potential buyers.

[waileong 0]

$8k limit only if you want to buy direct. Resale there are no restrictions if you take bank loan instead of HDB loan.

[homez 0]

FYI, HDB do allow Singles below 35 to buy resale flat only if you are an orphan with no other siblings for the joint application, no grants tho. That's the category I fall under. I must say I am thankful for this concession, otherwise the sole option left is get a pte apt. I just placed a deposit for a flat in Simei last night, better buy before HDB change their prevailing policy.

I did purchase my flat under this scheme <35 years ago as well but with one question; for single grant minimum age is >35 years ago, are we eligible for this when we reach >35 years old.

[Maid 0]

MY CASE : My 'ex-husband' and me separated for 4yrs (actually can file divorce anytime after 3yrs separation). We have been waited for my house to get matured for selling (Jan'07 due 5yrs).

Even now, we are stilling waiting...As my 'ex-husband' is kind enuff to wait for another year cos I'm 34yr old now and 1 more yr to go before I can buy a 3rm flat.

Me, a 34yrs 'so-call divorcee' with no kid, no house, no partner, not enuff $$ to buy pte apt, but got CPF to buy 3 rm only but canot buy now... Sigh..Wait Wait Wait...