Quote:
Originally Posted by Unregistered
Why not? If you sell your first BTO flat for $500k (which you bought for $200k), you will earn a profit of $300k. And since you bought your second BTO flat for $200k, you can use your profit of $300k to pay in full both your second BTO flat and a brand new $100k car. So, by flipping your first BTO flat, you get a new flat and a new car for FREE!! Isn't this smart? Huat Ah!!
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The median HH income is 8270. The ceiling for BTO is 10k which is probably the 60th percentile. For people to flip BTO, They must a) form a family nucleus b) earn below 10k (household) c) stay in the first BTO a for 5 years.
If a couple get married at 32 y.o and apply for their first BTO, the earliest they can sell is at 37y.o. You are basically giving a couple at 37 y.o earning less than 10k to own a car...
You are advising a 60th percentile family (pls try the salary.sg income tool) to buy a car in the country with the world's most expensive cars????
Where is your conscience?