Sunday, March 23, 2014

HDB profiteering mechanics - layman's POV

Always start with questions.Why lessees need to pay for landlord's building upgrading works?
Why lessees are made to pay landlord's property tax? Confirm HDB profitable.

Its a question of ownership, would you a tenant pay for landlord's renovation works? Why would landlord want to upgrade? Because they still make from future resale market, if they dont renovate, the poor resale response to non-lifts estates would pull down the valuation average of the resale market. And indirectly also the BTO pricing of new flats.By making tenants pay for big ticket items like lift upgradings, yearly property tax, HDB technically save a whole chunk of operating costs of a bunch of lease public housing.  Can you believe it they tell you they make losses selling BTO flats???

|If HDB owners are owners, why are they not consulted on SC&CC charges when they are raised, as subsidiary proprietors of their property, shouldnt they hold AGM for all residents for consultaton?

And to make things easier, CPF even allowed to pay for HDB flat mortgage, now how easy a sale can that be?  But do you know by allowing CPF to be used, that create another set of problems with your retirement funds?  And when HDB flat market fluctuates out of control, it also affects your retirement funds even more?  But that is another set of problems, which you can read in my other notes.

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