Ideal home is not an entitlement

[[DY]]

Nice discussion we have going.

I too belong to the late-20s group and I don't own a flat/apartment yet. No car too. So I’m quite sure I belong to the not-so-lucky group. 

Actually I can't say outright which side of the discussion is right. I know of peers who are extremely self-reliant, not born rich, but hardworking. They 'invest' in themselves, in that, they work hard, improve themselves and try to make themselves valuable to the organisations they work for. Interestingly, these are the ones who don’t feel that the country owes them anything. They take it upon themselves to improve their lives, for themselves, for their families and for their future spouses. To these peers, I have utmost admiration.

Then there’s another bunch of peers who are more spendthrift. Again, interestingly, these are the ones with an attitude that inclines towards ‘entitlement’. They spend their salaries chasing branded goods and buying cars they cannot afford. And when it comes to buying an apartment, they take the stand that the government must help them get what they want. The peers in this group actually have good salaries but are savings poor because they spend too much. So naturally, they feel that it’s difficult for them to put down that hefty deposit needed for a property purchase. I’m not saying their ‘branded’ lifestyle is wrong (to each his own), but I think they cannot expect everything to fall in place nicely for them if they don’t do something about it themselves.

Unfortunately, I have more friends belonging in the latter group.

[Musicwhiz]

Nice discussion we have going.

I too belong to the late-20s group and I don't own a flat/apartment yet. No car too. So I’m quite sure I belong to the not-so-lucky group. 

Actually I can't say outright which side of the discussion is right. I know of peers who are extremely self-reliant, not born rich, but hardworking. They 'invest' in themselves, in that, they work hard, improve themselves and try to make themselves valuable to the organisations they work for. Interestingly, these are the ones who don’t feel that the country owes them anything. They take it upon themselves to improve their lives, for themselves, for their families and for their future spouses. To these peers, I have utmost admiration.

Then there’s another bunch of peers who are more spendthrift. Again, interestingly, these are the ones with an attitude that inclines towards ‘entitlement’. They spend their salaries chasing branded goods and buying cars they cannot afford. And when it comes to buying an apartment, they take the stand that the government must help them get what they want. The peers in this group actually have good salaries but are savings poor because they spend too much. So naturally, they feel that it’s difficult for them to put down that hefty deposit needed for a property purchase. I’m not saying their ‘branded’ lifestyle is wrong (to each his own), but I think they cannot expect everything to fall in place nicely for them if they don’t do something about it themselves.

Unfortunately, I have more friends belonging in the latter group.

Thanks for sharing! It's quite an eye-opener, indeed. And yes it's been a very good discussion thus far. Keep it up guys! Will chip in with my views soon.

[lonewolf]

By the way, I belong to the super unlucky group -- overage bachelor. Cannot buy when HDB flats are more affordable because I did not fulfil my national duty of marriage and procreation..

I got my first HDB flat when I was still an 'underage' bachelor direct from the HDB with concessionary loans. And I'm the sole owner of the flat. No one believes me when I told them and 100% of them insisted that it's impossible.

HDB policy allows for one to buy a flat directly from HDB if one forms a family nucleus. So while I was in the 'upgrader' queue and has to wait for a good 8 years before it was my turn to 'select', I still consider myself relatively lucky that I got my flat at a time where HDB flats were 'no longer' cheap but hardly unafforable.

Another thing I have to be thankful for was that the ratio of flats for 1st timers at the time was smaller. Given that 95% of new flats are now reserved for 1st timers, I may still be waiting for a flat now.

So I think its important to put things in prospective and not carried away with who is more lucky because they were born earlier or later. While history and nostalgia does has it place, it is perhaps more important to recognise that Spore today is not our parent's Spore and will not be the same Spore as our children's or grandchildren's Spore.

Why be miserable over things we cannot change? (that 30K 5-room HDB flat bought 35 yrs ago) Why not focus on the current reality and what we can do to ensure we can live a sustainable and comfortable live for our families and ourselves?

[Wee~]

FYI, Gladys Chung's original article.
http://blog.iproperty.com.sg/housing-vie...ng-couple/

[touzi]

FYI, Gladys Chung's original article.
http://blog.iproperty.com.sg/housing-vie...ng-couple/

Thank you for the link. I think she has been misrepresented by Mr Robin Low. She doesn't sound like she is complaining or demanding. I do not agree with everything she says, but at least she make some suggestion to improve the situation.