LAWRENCE WONG

Minister Lawrence Wong Promotes Lease Buyback Scheme, Singaporeans Unhappy

Minister Lawrence Wong Promotes Lease Buyback Scheme, Singaporeans Unhappy

The promoting of the Lease Buyback Scheme (LBS) by National Development Board on social media has drawn intense backlash from Singaporeans from all walks of life. Minister Lawrence Wong also earlier said that all HDB flats would be returned to the government once their 99 year lease has run out, with no compensation paid to "home-owners".

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MINISTERS GO ALL OUT TO DEFEND BIG BROTHER LOONG

And as expected, while the whip was conveniently lifted for PAP MPs to question their boss in Parliament on the Oxley Road saga, no one from PAP did that so far. In fact, DPM Teo followed up PM Lee's statement with his own statement, followed by Minister for National Development Lawrence Wong also addressing Parliament. Instead of questioning PM Lee on this issue, they went all guns blazing defending the Saga in PM Lee's favour.

In fact, they cast further questions on the integrity of Lee Hsien Yang and Dr Lee Wei Ling. In fact, they painted the picture that the allegations made by the siblings are all baseless, that all of the Ministers have acted in accordance to what is accepted, and they had kept the siblings in the loop on all the matter that they have decided on the matter.

So, what is this Parliamentary sitting about? To elaborate more on the issue at hand about Oxley Road, or to defend PM Lee, sings his merits, and paint his siblings as the villains? The way the Ministers are defending their boss, it would seem so.

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HDB 99 YEAR LEASE TIME BOMB COULD CAUSE PROPERTY MARKET COLLAPSE

At least TWO PAP Ministers (Khaw Boon Wan & Lawrence Wong) have confirmed my point about the HDB 99 Year Lease being ZERO in value when the lease expired. This is an important critical fact that most Singaporeans have ignored for decades and despite of such reality, Singaporeans are still pumping huge amount of money willingly into HDB resale market which in turn, pushes up the new BTO HDB flats!

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SDP: SELLING HDB FOR RETIREMENT FORCE RETIREES TO ENDURE STRESS & SACRIFICE

Partially renting out ones' flat comes with risks and problems of ending up with an unreliable or untrustworthy housemate. The other option of downgrading means having to relocate and breaking friendships and community bonds forged through the years. One of life's goals is to work hard in our younger years so that we can live in relative comfort in our twilight years. What is the point if we cannot make such progress in life?

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PAP MINISTER LAWRENCE WONG TRIES TO CONVINCE S'POREANS HDB SHOULD BE SOLD FOR RETIREMENT NEEDS

My last blog on choosing a HDB resale flat generated some discussion and debate. Let me share some additional perspectives. HDB flats, like many private properties, are sold on a 99-year lease. They provide a good store of asset value, so long as you plan ahead, and make prudent housing decisions. The general point is that your HDB leasehold flat is not only a good home, but also a nest-egg for future retirement needs.

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