Sheng4Eva

So says this Singaporean. Read on and share what you think.

-------------

Oct 7, 2006
Govt should relook income qualifying levels


WHEN my wife and I read about the Housing Board's first public-housing project by a private developer, our eyes lit up with hope - until we learnt that the same qualification rules apply.

To the Government, my family is one of the better-off ones. With a combined income of more than $8,000, we are deemed to be well off and, thus, not eligible for any subsidies. The only housing options available to us are private housing and older, yet more expensive, HDB resale flats.

My peers and I belong to a group who are not wealthy enough to live comfortably - despite what many think - yet not poor enough to deserve any benefits from the Government. Should misfortune strike, we are not eligible to downgrade our housing immediately because of the 30-month time-bar.

My family, rather reluctantly, bought a private property because we were making slightly more than $8,000 a month when we needed a new home five years ago. None of us really had any cash savings then and we ended up with a huge loan from the bank.

After five years of paying more than $30,000 in interest per annum, we hardly have any savings. Meanwhile, our property has depreciated by $200,000 while our loan remains slightly above $500,000.

My wife and I would like to expand our family. We did our calculations and planned our future but still found it difficult to move out of our Dink (Double Income, No Kids) status.

What the Government said about making it easier for couples to have kids, the need to have kids, and the need to retain talent meant nothing to us.

We played a role in Singapore's success, contributing to the government coffers via income tax, but we always feel left out where benefits are concerned.

Not so long ago, I broke out in cold sweat after hearing some minister propose means testing.

In Singapore, it is neither the Malays nor the Chinese that are marginalised; it is the families earning $8,000 and more.

Perhaps it is time the Government relooks income qualifying levels to more accurately reflect today's standard of living.

To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.

FTW