Property developers island wide must have been busy messaging each other when the prime minister announced that 800 ha of land will be freed at Paya Lebar. Real estate agents salivated with glee, at news of height restrictions removed by the relocation of the airbase, meaning existing 8 storey structures in perfectly livable and affordable conditions can be demolished to make way for building heights of up to 36 floors. Residents in the affected zone will probably discover new neighbours, speculative vultures who take up a unit or more in anticipation of the plump prospects of another Selective En bloc Redevelopment Scheme (SERS). The stakes are high, the land area could easily accommodate 60,000 to 80,000 public and private homes. This is asset enhancement at work, same land area extorting higher prices.
Some will definitely benefit from the bonanza, but most will discover the money they receive will only afford newer units of smaller living space, packed closer together than older developments. How did the HDB CEO put it? Units are smaller because Singapore families are getting smaller. The higher density fits nicely into the White Paper target, oops, planning parameter, of 6.9 million population. It wasn't referred to in the National Day Rally speech, probably because the old geezer said in his latest book, "One Man's View", it was Teo Chee Hean who's responsible for the reviled number. If there's another last minute election apology in 2016, it might go like this: "We are sorry for the oversight. Our ministers were using a template policy, and we have since tried to correct it."
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More room for mess?
ReplyDeleteYeah it works great, just like Madoff's scheme worked great up till that fateful day when he couldn't rope in any more suckers!!
MIW makes Madoff really small time with their soon to be 6.9million clients.
DeleteI hardly blame them, every garmen in developped world believes in printing and milking the real estate market to generate instant growth. Look at unca Sam, followed by UK and soon Aust, even before the banks have sold all their bad mortgages to their central banks, their old housing bubbles have been successfully been re-ignited. Monkey see, monkey do, that's what our world class education system has produced - a bunch of copy-cats and rent seekers. Donlt forget, the core of the civil service comprises 4 decades of oxbridge-trained "ecunonomists", all with harvard or stanford MBAs. The anglo saxon way is wealth thru bubbles, esepcially the housing bubbles kind. The difference is that here, the miw control land supply, that can distort market forces for a long time. But like 1998 and 2003 show, even gods cannot forestall gravity. So party on, while it last. Come what may, they have got the diamond-coated wagyu-beef bowl with their million dollar jobs and their black accounts... no worries, blow away
Deletethis phrase learning from history shroud be considered foul word and banned
DeleteThe top 3 OSC concerns are
ReplyDelete1_ Affordable housing
2- Healthcare
3- Job Security
PM has addressed the new BTOs but not resale prices that keeps going up.
We barely know the details of healthcare yet.
And they are totally mum on job security.
Singaporean-core has no place to go but down as a result of disastrous policy initiated by wonkers years ago. If the core-citizens don't understand the economic, demographic and political conditions that are giving rise to this bad situation we are in now, they may very well be going the way of the Dodo birds.
Before the outbreak of war, the mission of the F Kikan, code name of an agency responsible for espionage under the SEA command, was
ReplyDeleteto “establish contact with Chinese” in order to organize them in an anti-British movement. So agents were trying to establish contact with Chinese leaders to win them over.
Then, Captain Tarora had accompanied Teo Eng Hock, (widely known as successful business rubber merchant) in Singapore and an early Sun Yat-sen supporter, to Indochina in August 1941 to win the hearts of the leading Chinese in Saigon. Unfortunately, the anti Japanese feelings were so strong that they accomplished very little.
Teo Eng Hock is the granduncle of Teo Chee Hean.
Like George Yeo, when he retires in 2016, he can tout his impeccable PAP pedigree and take his "Population Rejuvenation Plan" to Japan as Consultant, and follow up his granduncle's work. I'm sure PM Abe might need some boost in his abenomics and he can teach them how to keep Japan "unpure" so they can continue to grow the next 5000 years; better than to worry about red dot's 50 years.
Sardines alive.
ReplyDeleteAnd Public Buses with even smaller size seats. Ever seen 4 adult commuters fit into the 4 abreast seats ?
Deleteno you must be greateful and eternally greateful
DeleteMoney.
ReplyDeleteThe electorate loves money.. although its not tangible just yet, but like you wrote... "Real estate agents salivated with glee..."
This alone will garner enough votes to oust WP.. Paya Labia is next to Hougang no?
Money... ohhhh the love of it knows no end!!!
Which would you rather have, money or power??
Both would be great!!!
And that, my dear is what the game is all about.
Does that mean SMRT should actively engineer more massive train breakdowns so as to create more income opportunities?
ReplyDeleteMore "breakdowns " = justification for hefty fare increases
DeleteDaft singaporean will understand that it's in their interest for annual fare hikes.
As far as Pap is concerned, the 6.9M is now a taboo subject. So I presume they have to disguise it as a new Paya Lebar township to act as the Trojan Horse to win back Aljunied from the opposition. All they have to do is just to allocate more chances to new citizens to occupy new housing at the brand new township.
ReplyDeleteOtherwise come to think of it, why would they want to sacrifice the sacred cow aka military airbase @ Paya Lebar, of all places. Incidentally if we don't need this one, does it mean we can also do with less spending for our constantly upgrading our latest fighter planes?
But on the other hand both the Malaysian & Taiwanese media has revealed that it is a normal practice for those involved in arms trading, a standard commission is always payable whenever a deal is closed. So is that the reason for our reckless ever increasing defence budget? The question now left is who is the lucky ones chosen to pocket such commissions?
Damn it! It becuMIng an obsession for me to wish a long life for kuan yew... see?
ReplyDeleteon a first name basis too.
LONG LIVE KUAN YEW, BE ALERT TO WITNESS HISTORY IN THE MAKING.
That is the ousting of pap in due course.
Enjoy this moment
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ReplyDeleteMe too wishes Lee Kuan Yew lives
ReplyDeletelong long.
patriot
Love you long time...darling.
DeleteDon't fall for what he says is giving out. These are just tweaks and teasers to distract you from the real issues. LOOK AT WHAT IS NOT SAID!
ReplyDeleteThere are various ways to lie - by telling it outright, or by keeping mum and not telling the truth. The Population White Paper on the 6.9 million is a HOT POTATO which they have every intention of ramming through, so why should he mention it - 77% of them voted it in, so it is non-negotiable. There are some traits which he inherited from his father, for example the stubborn and arrogant streak, but he has this sneakiness all of his own.
Look around you at the construction frenzy, costing billions, and guess what it is for. The North-South Expressway, the new MRTs, Bukit Brown, Bidadari, the expansion of Pulau Tekong military facilities, Tengah Air Base, Tanjong Pagar port area, just to mention a few, and add now the Paya Lebar Airbase. Just to keep the construction companies busy (many are foreign companies) and the real estate developers happy, and push up the GDP, and to ease current congestion and housing shortages? Bet your ass it is not.
As for the One Man, he is already on his last leg. Wish he could live long enough to see 2016 and the boob of a Jewel at Changi. Long Live the One Man.
construction has long been used in spore to prop up the economy when it's not doing too well. rather like a push-up bra for droopy breasts...
DeleteWhy not breast surgery? Afterall they have an expert hen who earned LKY's respect for his $6m boob job right? I guess surgery is painful for the elites whose familees (and famil-tans and fami-teos) all have their money parked in blocks of condos, rows of goof class bungalows and lots and lost of rent-seeking banks and trading companies (wearnes anyone??). So I guess its the only thing they know how to do: when the old knife works, milk it to the end - build and build, except building white elephants, like in China, creates wealth only for the owners, not the country.
DeleteF35s are on the way, why need runway?
ReplyDeleteOn the way to be "cut"? That would make PAPigs and the champions boot lickers at the various garmen departments look really like lau hero - buying a plane after its being canceledd :) hahaha. From wikipedia...
Delete"In July 2013, further doubt was cast on the latest (long delayed) schedule, with further software delays, and sensor, display and wing buffet problems continuing.[135] In August it was revealed that the Pentagon was weighing cancellation of the program as one possible response to the Budget sequestration in 2013,[136][137] and the United States Senate Appropriations Subcommittee on Defense voted to cut advanced procurement for the fighter.[138]"
Drones is the future. They can be used like a swarm of hornets with kamikaze effect.....cheaper to produce and your pilots can be 12 yr olds operating the remote system.
DeleteJust ask any of our F16 pilots how they feel about this.
Masses or just a bit 'messier' - to echo a term previously parroted in servitude by a worldly journalist.
ReplyDelete