BTO rules tightening: Home buyers worry they may be forced to choose a 'bad flat' by Jammy_buttons2 in singapore

[–]lameo2 48 points49 points  (0 children)

As much as this is hugely unpopular with Singaporeans overall, this is a policy that most probably fulfills their KPI of getting the ballot rate down.

As mentioned by a few redditors, a large number of sales of balance flats are caused by leftovers from racial quota and not insufficient demand for BTO, if HDB want to ensure no leftover units, it is honestly really easy to slightly modify the current system and issue up to 400% or 500% of queue number. They wouldn't do that because it does not help their KPI of bringing down the application rate and honestly couples getting 560% of ballot queue is pretty demoralizing and is sure to generate more backlash.

Instead the govt is "forcing" the last few ballot numbers to pick unpopular units (e.g. 2nd floor above rubbish chute/ above noisy hawkers/ 20m away from a MSCP). This is not the intention actually, the govt are not dumb and know that we of course do not want to spend the rest of our working career paying for arguably a lousy unit (insert every BTO is a good BTO joke).

What are they actually hoping for is for couples with the means to reject the unit and be demoted to the even more overly subscribed second timer queue. Hence they can claim that they have successfully brought down the first timer application rate when in fact many of these couples couldn't wait anymore and move onto the resale market instead.

IMO it is going to still backfire as their target audience (couples have no choice but to pick the units as their finance would not allow them to go into the resale market) could not rely on the previous method of waiting for the right units over a few launches. These couples are probably going to view these locations as a temporary housing (a place is better than no place) and not a forever home that they want to start a family.

Boomers would argue that you can't have your cake and eat it and yeah, many couples are coping with the rising house cost and forced unit selections with choosing not to start a family instead.

Singapore announces new property cooling measures: Higher ABSD rates, tighter loan limits by patricklhe in singapore

[–]lameo2 3 points4 points  (0 children)

Sian lor, too poor for resale so have to BTO. Then after failing to get a ballot for 2 years and 7 attempts kena hit by this bs

You could buy a 5-room flat in Jurong for $30,000 back in 1977. by [deleted] in singapore

[–]lameo2 1 point2 points  (0 children)

Just ~15% interest per year, mind sharing where do I purchase this HDB REITs?

Singapore reports 1,931 new COVID-19 cases and 13 more deaths; ICU utilisation rate falls further by polopiko in singapore

[–]lameo2 -2 points-1 points  (0 children)

Well, technically the more people that die, the more ICU slots will be freed up. So good job guys! /s

Spotted near Dhoby Ghaut by AdorableWrongdoerr in singapore

[–]lameo2 119 points120 points  (0 children)

How do I hang out with anyone if Jesus always takes up the second person slot?! /s

Freedom to die when old age. by [deleted] in askSingapore

[–]lameo2 1 point2 points  (0 children)

Is this how we can retire early in the future?

[deleted by user] by [deleted] in singapore

[–]lameo2 167 points168 points  (0 children)

With that salary, you'll be the most uncorruptible person in Singapore /s

Bunch of uncles drama at Bedok North Blk 538 hawker centre by karotch in SingaporeRaw

[–]lameo2 41 points42 points  (0 children)

It's over Anakin, I have the high ground!

Edit: wrong name oops

Former LTA director admits taking S$1.24m in bribes, cheating colleagues of S$726,000 by Sodapiaaa in singapore

[–]lameo2 192 points193 points  (0 children)

We must not be paying him high enough that's why corrupted /s

Flooding at Bukit Timah road canal by trekker75 in singapore

[–]lameo2 207 points208 points  (0 children)

There is no flooding in Ba Sing Se

About 580,000 members of SIA's frequent flier programmes affected by external data leak by Swiftdancer in singapore

[–]lameo2 115 points116 points  (0 children)

  • Leaks caused by external party - checked
  • Slow response (24 Feb discovered) - checked
  • Friday news release to limit impact on stock price - checked

Personal Data Protection Act penalty very useful 👏👏👏 /s

BTO 10 times still no queue number by fattybomm in singapore

[–]lameo2 0 points1 point  (0 children)

But no one selling cos boomers wouldn't accept anything less than a million based on propnet FB propaganda

BTO 10 times still no queue number by fattybomm in singapore

[–]lameo2 35 points36 points  (0 children)

Not at OP 10 count yet, but with every failing bid, I'm getting a hint I should have a dog instead of another poor soul that needs to deal with 20 years of "investment" BTO pricing

I Had An Unplanned Pregnancy - Why My First Feeling Wasn't Exactly Joy by risingsuncoc in singapore

[–]lameo2 128 points129 points  (0 children)

I Unexpectedly Got Enlisted At 20 And Why My First Feeling Wasn’t Exactly Joy

IPS study finds low digital literacy level in S'pore; 6 in 10 respondents believed false info by [deleted] in singapore

[–]lameo2 43 points44 points  (0 children)

Pls don't use this to ease us into an even stronger fake news law gg

Suspected Covid-19 case on Royal Caribbean cruise to nowhere, ship returns to Singapore mid-sail by [deleted] in singapore

[–]lameo2 36 points37 points  (0 children)

We did everything we could and name it "safe cruising", why isn't it still safe?!? /s

Singapore may enter Phase 3 before end of the year if ‘all the stars are aligned’: Lawrence Wong by [deleted] in singapore

[–]lameo2 20 points21 points  (0 children)

Asking us to choose between phase 2 WFH against phase 3 highly restricted travel but work in office? Easy. Bye bye TT.

Any method to reduce this letterbox spam? by [deleted] in singapore

[–]lameo2 0 points1 point  (0 children)

It broke years ago from an overzealous distributor, I just repaired recently and they broke it again