tag:blogger.com,1999:blog-4405345292513335071.post2551370218007193016..comments2024-03-19T18:44:15.041+08:00Comments on Little Stories: The House of Wang And Other Little StoriesGilbert Koh aka Mr Wanghttp://www.blogger.com/profile/01027678080233274309noreply@blogger.comBlogger29125tag:blogger.com,1999:blog-4405345292513335071.post-71241301185347460452010-02-02T12:39:14.763+08:002010-02-02T12:39:14.763+08:00"Was that you who wrote that article to the F..."Was that you who wrote that article to the Forum today with regards to the foreign talents?"<br /><br />LOL, no.Gilbert Koh aka Mr Wanghttps://www.blogger.com/profile/01027678080233274309noreply@blogger.comtag:blogger.com,1999:blog-4405345292513335071.post-22034623128116608172010-02-01T22:20:04.358+08:002010-02-01T22:20:04.358+08:00Mr Wang,
Was that you who wrote that article to ...Mr Wang, <br /> Was that you who wrote that article to the Forum today with regards to the foreign talents?<br /><br /> I suppose in the comfort of your cluster house, you might have forgotten that the vast majority of Singaporeans hold jobs that are threatened by foreign talents - not because they are smarter or more capable, but because they are much cheaper.<br /><br /> Would you be singing the same tune, if the foreign talents threatened your high-paying job? I am quite certain that there are foreigners who can do your job for 1/5 of your salary. If one of them can't do it, how about two of them? It's still at most 2/5 of your pay.<br /><br /> Very few of us are able to afford a nice cluster house like you do. Try putting yourself in our shoes when you wonder why so many of us are hostile to foreigners.<br /><br /> We bear arms for the country, and one day, if that day comes, we may have to die for the country. But of course, since you won't help protect your fellow Singaporeans, then maybe when war comes, your fellow singaporeans won't stand up for Singapore too. We will just do everything by looking at the bottomline. And the bottomline says we are stupid to lay down our lives so that foreigners can take our jobs and enjoy our country. Why not get the foreigners to bear arms for us?<br /><br /> Enjoy your nice cluster house while it last - before you get replaced by a cheaper, better and faster foreign "talent".Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4405345292513335071.post-13443790324575272932010-01-30T21:42:14.290+08:002010-01-30T21:42:14.290+08:00so mr wang, u are god lah?so mr wang, u are god lah?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4405345292513335071.post-17376767419578458742010-01-29T11:03:39.052+08:002010-01-29T11:03:39.052+08:00That's called complacency.
A lot of us know d...That's called complacency.<br /><br />A lot of us know deep down inside that this Singapore cannot continue like this forever. It will end one day. But we choose not to think about it. It is a problem for the children to work out.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4405345292513335071.post-91597460141435883192010-01-29T01:23:24.781+08:002010-01-29T01:23:24.781+08:00Fully agree with the last comment.
When I first g...Fully agree with the last comment.<br /><br />When I first graduated, all I wanted to do was work in the US or Europe due to much higher starting salaries and better lifestyle for working adults.<br /><br />Now that I'm married, in my 30s and making a comfortable amount of money, why would I want to uproot myself and move from a 20% tax bracket to 40-50%? That's absolutely insane.<br /><br />Having said that, I worry all the time that Singapore is making me too soft. So much so that if the dream were to be shattered one day, there'd be nowhere else to run to.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4405345292513335071.post-53230616534876235422010-01-28T20:43:10.490+08:002010-01-28T20:43:10.490+08:00It is a lot harder for married professionals with ...It is a lot harder for married professionals with children who are successful in Singapore to move abroad for the following reasons :<br /><br />1) Comfort level in Singapore is high. Why leave for another struggle?<br /><br />2) Professional qualifications are sometimes not recognized in the same way overseas. You might have to rebuild your career from a lower start point<br /><br />3) Maids are a lot more costly overseas and years of not doing your own household chores makes one very unwilling to do them abroad.<br /><br />4) Children are settled in Singapore, doing well in school. It seems too much to risk these high achievers in Singapore schools destined for bright futures by placing them in overseas "inferior" school systems.<br /><br />5) Singapore has one of the lowest tax rates for high income earners. You get to keep a lot more of the a lot you earn than if you were to move abroad.<br /><br />It's a different story for middle class white collar workers though and rich business people.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4405345292513335071.post-79076970458007188612010-01-28T13:44:42.405+08:002010-01-28T13:44:42.405+08:00Mr Wang,
Although you just made a million dollar ...Mr Wang,<br /><br />Although you just made a million dollar commitment, I am impulsed to ask if you have any plans to leave the country in the future?<br /><br />With your qualifications, I'm sure your can command a job easily in any western country.<br /><br />poirvpoirvhttps://www.blogger.com/profile/05136708668600163290noreply@blogger.comtag:blogger.com,1999:blog-4405345292513335071.post-89955227762640101302010-01-28T13:43:17.085+08:002010-01-28T13:43:17.085+08:00This comment has been removed by the author.poirvhttps://www.blogger.com/profile/05136708668600163290noreply@blogger.comtag:blogger.com,1999:blog-4405345292513335071.post-90617359217093819702010-01-28T10:18:03.686+08:002010-01-28T10:18:03.686+08:00"Downwards", I mean, not "downloads..."Downwards", I mean, not "downloads" ...<br /><br />Brain not working today, haha.Gilbert Koh aka Mr Wanghttps://www.blogger.com/profile/01027678080233274309noreply@blogger.comtag:blogger.com,1999:blog-4405345292513335071.post-53866705907448847172010-01-28T10:17:07.585+08:002010-01-28T10:17:07.585+08:00Money that goes back into the CPF can be used to p...Money that goes back into the CPF can be used to pay the monthly mortgage on the cluster house, of course. <br /><br />And it can also be used to aggressively prepay the cluster house loan downloads, if interest rates on that loan go up.Gilbert Koh aka Mr Wanghttps://www.blogger.com/profile/01027678080233274309noreply@blogger.comtag:blogger.com,1999:blog-4405345292513335071.post-25764962624315607162010-01-27T21:46:16.120+08:002010-01-27T21:46:16.120+08:00Err Mr Wang, can you explain how selling you HDB w...Err Mr Wang, can you explain how selling you HDB will give you "lots of cash in hand"?<br /><br />Doesn't most of the money go back into CPF? Unless you didnt use your CPF to pay for the loan instalments?<br /><br />For me it made no sense to sell a positive cash flow HDB flat in a very good area. All the money would go back into my CPF account.<br /><br />I continue to use my CPF to pay the HDB flat instalments. I collect rent. The rent is used to pay for the loan instalments on my 2nd property and I still have a couple of dollars left in hand. And I now have TWO properties.<br /><br />In the case of worrying about not having tenants, you will always be able to find tenants. It is just a matter of how low your rent goes. HDB loans are also fixed rate pegged to CPF rates. I doubt CPF interest rates will ever be attractive.pikachunoreply@blogger.comtag:blogger.com,1999:blog-4405345292513335071.post-36535172517326460362010-01-27T00:49:57.156+08:002010-01-27T00:49:57.156+08:00Mr Wang, I seriously HATE my town council.
Can you...Mr Wang, I seriously HATE my town council.<br />Can you help me to post my blof<br />http://zerotc.blogspot.com/ on this website so that all can read and comment<br /><br />Leepat leehttp://zerotc.blogspot.com/noreply@blogger.comtag:blogger.com,1999:blog-4405345292513335071.post-16111108470714442642010-01-26T15:33:23.242+08:002010-01-26T15:33:23.242+08:00Congrats Mr Wang!
But I thought the initial plan ...Congrats Mr Wang!<br /><br />But I thought the initial plan of getting that cluster house is that it is near schools that your kids can study in?<br /><br />Anyway, you are right! In this current situation (in fact, in any situations), it is best to be nimble and have loads of spare cash.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4405345292513335071.post-76115318791886377852010-01-26T13:07:51.715+08:002010-01-26T13:07:51.715+08:00After u have settled ur housing in Singapore, u sh...After u have settled ur housing in Singapore, u should look at buying a property overseas. U never know when u will need it. It is an investment with a bonus - security.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4405345292513335071.post-88483832089482580372010-01-26T12:05:17.130+08:002010-01-26T12:05:17.130+08:00"I have new neighbors. They bought right abou...<i> "I have new neighbors. They bought right about the time you sold your HDB. My ex-neighbors were a property agent+insurance agent couple. Never buy a house from a property agent!" </i><br /><br />It's indeed a good rule of thumb. When a couple like a property agent + insurance agent decide to sell a property, there's a good probability that it's a good time to sell that kind of property.<br /><br />Insurance agents, not just property agents, can also have their noses on the ground, for this kind of stuff. <br /><br />That's because insurance agents sell home protection schemes. mortgage insurance etc - so they are therefore constantly talking to home buyers. That's how they get a feel for the market.Gilbert Koh aka Mr Wanghttps://www.blogger.com/profile/01027678080233274309noreply@blogger.comtag:blogger.com,1999:blog-4405345292513335071.post-89056546917615092472010-01-26T10:27:51.865+08:002010-01-26T10:27:51.865+08:00Keeping the HDB flat was also a possible approach....Keeping the HDB flat was also a possible approach. <br /><br />I dunno, I guess I like to stay nimble. As LuckySingaporean indicated, there are various "black swan" uncertainties lurking on the horizon, and one must stay nimble in order to deal with them, in case they occur.<br /><br />Staying nimble, in this case, means selling the HDB and having a lot of cash in hand. <br /><br />Otherwise I might have to deal with a situation like this. I keep the HDB, rent it out, and move into the cluster. Then:<br /><br />1. Interest rates go up<br /><br />2. HDB flat goes down in market value<br /><br />3. Private property market goes dead<br /><br />4. HDB tenant leaves after one year<br /><br />5. Economy goes bust, no new tenant can be found<br /><br />6. Mr Wang gets retrenched (who knows, it can happen)<br /><br />But if I sell the HDB now, and have a lot of cash in hand (plus my other savings), then:<br /><br />Risks 2, 4 and 5 would not exist, <br /><br />and the cash in hand is a big buffer against Risk 1 and 6<br /><br />and since I am using the cluster as my residence, Risk 3 is also of no immediate concern.Gilbert Koh aka Mr Wanghttps://www.blogger.com/profile/01027678080233274309noreply@blogger.comtag:blogger.com,1999:blog-4405345292513335071.post-1536408313699715462010-01-26T09:19:46.751+08:002010-01-26T09:19:46.751+08:00wouldn't it be better to rent out the HDB flat...wouldn't it be better to rent out the HDB flat instead of selling it away?<br /><br />with the IRs opening, the foreign workers coming into singapore will be staying in rented HDBs. it is a good source of passive income. <br /><br />though the government is rapidly releasing BTO these few months, but the effects on the supply are limited due to a long backlog demand for HDB. <br /><br />i have a friend who sold his condo the last quarter at $750k (netting $300k profit) but he regreted it now. cos it is worth $800k currently and the rental yield is $3k a month. he realised he can actually use the rental yield to pay for two of his property mortgages.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4405345292513335071.post-75542257872420891782010-01-26T07:28:53.391+08:002010-01-26T07:28:53.391+08:00I initially carried the same view as Lucky because...I initially carried the same view as Lucky because I too felt that property boom cannot continue forever.<br /><br />But having doing some more research, this is the conclusion that I came up with.<br /><br />1) Government WILL allow more foreigners in.<br /><br />2) New immigrants WILL have to stay somewhere.<br /><br />3) Many HDB dwellers may try to sell their properties to the new immigrants so as to have the cash to purchase private properties.<br /><br />4) Private prop owners who own more than 1 prop might start selling their other props to retain high liquidity.(Some might even sell their only pvt prop at a huge profit and downgrade to a HDB)<br /><br />These scenarios are already happening in Singapore and they are no doubt part of the factors that created the astronomical prices of the properties that we see today.<br /><br />Therefore, I believe that the property prices will continue to rocket upwards just as long as our population continues to increase exponentially.<br /><br />Sigh. Truly a sad situation for wannabe-homeowners.<br /><br />Chong HanAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-4405345292513335071.post-11873368406751039082010-01-25T23:15:26.669+08:002010-01-25T23:15:26.669+08:00Lucky, I think you are a little over pessimistic!
...Lucky, I think you are a little over pessimistic!<br />I think the PAP Govt still have a lot of cards to play, they might give you a pleasant surprise, afterall, they are the highest paid in the whole Universe!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4405345292513335071.post-339618319046491252010-01-25T19:36:14.277+08:002010-01-25T19:36:14.277+08:00Mr.Wang,
Hmm...reminding your readers about your ...Mr.Wang,<br /><br />Hmm...reminding your readers about your uncanny ability to time everything almost perfectly?<br /><br />I have new neighbors. They bought right about the time you sold your HDB. My ex-neighbors were a property agent+insurance agent couple. Never buy a house from a property agent!<br /><br />I woke up middle of the night yesterday - my mind sort of piece together all the ecnomic news/articles I read while I was at Borders during the day. I think this whole thing is going to fall apart soon. Its all an economic mirage - quatitative easing + stimulus. When it is all gone, this will be the recovery that never was...and on hindsight we will look back at the $100K COV for HDB as one heck of a property bubble. <br /><br />A few months ago, I took a look at the property index chart vs the STI. Unlike the stock index which gyrates wildly, once the property index turns down, it goes down for many quarters....and it takes the stock market down with it. <br /><br />I get this feeling its all going to happen soon...this great unravelling.Lucky Tanhttps://www.blogger.com/profile/04966909243143681126noreply@blogger.comtag:blogger.com,1999:blog-4405345292513335071.post-18623272896252101672010-01-25T19:28:12.581+08:002010-01-25T19:28:12.581+08:00Yes, you are right.
That is why I bought a corner...Yes, you are right.<br /><br />That is why I bought a corner cluster house (and it's the most "inside" corner of the development). <br /><br />No one will actually walk all the way there, unless they intend to come to my house. Being at the furthest corner also means that it's difficult for neighbours to look into my house. So that's why my place will be quite private.<br /><br />Also, I intend to utilise the open area just outside my house, around the back and side. Technically it's not my land, but because I'm right at the corner, I don't think anyone will care. I suspect no one will even walk that way.<br /><br />The space would be big enough for me to plant a few trees; hang the clothes; grow some vegetables. My maid (who used to be a vegetable farmer in the Philippines) is very enthusiastic about the idea.Gilbert Koh aka Mr Wanghttps://www.blogger.com/profile/01027678080233274309noreply@blogger.comtag:blogger.com,1999:blog-4405345292513335071.post-25661259589067979092010-01-25T18:31:45.353+08:002010-01-25T18:31:45.353+08:00Our neighbour's single house was turned into 8...Our neighbour's single house was turned into 8 cluster bungalows (near 2/3 foreign schools, prime rental area). These cluster houses are generally 4 different levels built very close to each other. It may be hard to locate family members on different levels but neighbours could in one glance (not intentionally of course) see bedrooms, dining room, living room-except basement-ie almost the entire house if shades are not drawn. <br />I believe approval for new cluster housing has stopped though those already approved will continued to be built.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4405345292513335071.post-14033958970287930412010-01-25T17:28:46.692+08:002010-01-25T17:28:46.692+08:00Ha, good to know that you are happy with all the t...Ha, good to know that you are happy with all the things happening:) Just to check if you think that you just happen to have all the good luck, or you have been planning all these all the while?keithyiphttp://keithyip.comnoreply@blogger.comtag:blogger.com,1999:blog-4405345292513335071.post-60956653386978223652010-01-25T17:20:04.541+08:002010-01-25T17:20:04.541+08:00If the condo is offered at a good price, i think y...If the condo is offered at a good price, i think you should get it. Location is always a major plus, since it makes getting anywhere easier. Whether to buy groceries, get the kids home from school, going to CBD etc etc.<br /><br />I used to think cluster house was the bomb, with affordable prices and a lot of space. But after a while, getting anywhere was a pain when the car is not around [taken out by wife lol] and you really need to maintain a lot around the house. Hate the algae growing on the top deck...Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4405345292513335071.post-84479749491885547282010-01-25T16:36:50.523+08:002010-01-25T16:36:50.523+08:00Cheap cheap cheap? It is all about money?
Persona...Cheap cheap cheap? It is all about money?<br /><br />Personally I would prefer to live in the cluster house and shout "where are you" instead of "get out of my face I am watching TV" all the time.<br /><br />You can afford space, and you should utilise it. I think your children and also you may appreciate this "distance" in the house.<br />You could always sell the cluster house a little while later, if you really don't like it.<br /><br />Not everything is about saving money or getting the best deal. If this is the case, then I have only sympathy for you.KAMnoreply@blogger.com