Singapore’s homeownership rate is 80%. Could a housing solution there work in Hawaii?
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- čas přidán 31. 07. 2024
- Singapore is known for its sky-high cost of living. But what might come as a surprise is that some 80% of Singaporeans own their homes.
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Nope. My Singapore friends are educated, hard working, politically conservative, fiscally responsible, punish criminals to the fullest extent of the law, and do not tolerate corrupt officials. It aint the "gimmicks" , its the character of its citizens that make a place great.
Bang on.
We are tough on Corruption, Crooks, Druggie, Bullies and many no nonsense requests.
Bingo 👍🏽👍🏽
Even Singapore is not as picture perfect as u think. Maybe home ownership is high but it is because Singaporeans save a lot of their money and since Singapore is so tiny they all live with their parents before they buy a house or get married. Public housing in Singapore is selling up to a million dollars and these are ugly looking flats. In Hawaii a million dollar home can get u a landed property or a condo with swimming pool and all. To say the Singapore housing market is a success story is quite laughable. The problem is strictly a supply & demand issue. If u don't fix it then the problem will continue to exist forever. Hawaii is in a terrible position because everything has to go through the mainland first before goods are transported to Hawaii. This costs more to build a house in Hawaii and certainly the over regulations of housing doesn't help either. There must be less regulations and Hawaii must be able to import goods directly from other countries.
@@secrets.295 u r telling the whole world you are a clown.
Singapore has a wonderful metro rail system covering the whole island too.
Never will happen with Hawaii's lolo politicians and incompetent bureaucrats. Singapore had one of the great leaders and visionaries...Lee Kuan Yew.
I actually live a few blocks away from Kampong Admiralty... And its actually very good and have a nice garden.
I would say the biggest hidden reason for Singapore's success, is that although we very much enjoy good education, expose to the world and are independent beings, almost all of us will choose to prioritize the country's development, despite complaints and rants which we basically keep at `gossip level`. Take Covid19 as an example, we wore mask immediately after the rules were implemented, almost no one will question anyone, we will just do it so our country can overcome the problem fast.
I think currently percent is 80+%, if you round it up, it’s even close to 90% home ownership.
For a young couple, dual income (no need to be high paying jobs), it’s pretty much guaranteed a home (per month mortgage is less than a thousand SGD, for a 4 room apartment - meaning 3 bedrooms + 1 living room)
Sounds great, but take a look at the rail, and that is what will happen. Over budget, years in the making, and just before time to open, they need to be repaired. Need more assurances and proof that the shoddy record Hawaii has with building projects ends.
Contract it out to have Singapore Build it for us...lol
@@zoemcfadden4004That's a thought🤔
She is wrong. More than 90% own their own home. Of that 80% are in public housing.
Not gonna happen on Oahu, maybe neighbor islands. Land owners with large parcels only want Luxury condos to sell to out of state investors. Talking to you Bishop Estate and Howard Hughes. Did you see the size of the development Singapore built. Where would you build something like that?
Singapore is not perfect and it has its own share of hardships that needs working on.
But i do hope for the people of Hawaii to have a good government that works for its people and benefit them. Warm regards from SG TO poeple in Hawaii. Always wanted to visit there one day!
Singapore is not as picture perfect as people think it is. To rent a sharing room (not sharing a house, but sharing a room) at Jurong East, which is considered cheap in Singapore it will cost you around $700-800. And that sharing home is an ugly looking flat. To say Singapore solved their housing issue is quite laughable.
Better any time than living on the streets.
@@anchored555 They dont have homeless people because Singapore is an extremely tiny island. Everybody u know live less than half an hour from where u live. If they dont have money to rent a house they can just live with their parents.
There’s no way. Singapore has a totally different government system than the US and Hawaii. The legislators just wasted hard earned tax payer money in my opinion.
HDB is one of the most successful public housing scheme in the world. Started in 1970, the scheme had since went thru numerous improvements. A lot of har work and planning.
There are some important issues not discussed. For one, the home "owners" do not own the land. The government owns the land. Two, the government often takes the property with little notice for redevelopment when the property becomes valuable. They do not compensate the owners fair market value but instead gives them another apartment, always in a undesirable location. Three, there are rules that might seem just wrong for Americans. You must be married to buy from the government and there is a long waitlist. There are also rules on whether they can be rented out or sold. On top of this, the buildings are built by cheap foreign workers from 3rd world countries who are paid a few hundred dollars a month. Indeed, just like Middle Eastern countries, nearly half of Singapore's work force is exploited cheap foreign labor. What Singapore does is completely impossible for a state like Hawaii because it would violate many US laws that protect workers.
No way that type of housing development will happen here.
Yup, exactly what they will do in Lahaina! They had it destroyed so they could construct a 15 minute city. Just wait…the people will loose their land and developers will snatch it up and rebuild it like Singapore. The Governor, Mayor, Chief of Police and other County officials were all in on this.
Plus too many lazy and trouble makers in Hawaii
A country that is 283.5 squares miles in size ! God bless you and your family amen and aloha from palolo
We couldnt even get the rail completed .... you think the state could do this ....corruption is first thing, second is they will build it and it wont be affordable, we already have huge condo complexes going up in Kakakko and no one that is local that lives here can afford those places and they are mainly empty parked money for far east, come on where u building these skyscrapers on the swamp thats Waikiki........
World most expensive country to buy a car but taxi & ride hailing ride fare are way very low comparing to other major economies. Have anyone ever thought about it, driver daily overhead such as rental/lease, petrol, carpark and many more.... everything are getting expensive but fare are still pathetic.
For driver, more daily trips plus longer working hours. How to have work life balance like that?
Western tourist also wonder and ask driver how they earn with low ride fares in Singapore.
Vote for the right party.
No one in their right mind votes for the same political party election after elections but expects a different result.
Singapore doesn't have sacred areas.
Singapore is less than half the size of Oahu with over 5 million people. I am sure Hawaii has a lot more land available even if you disregard sacred land.
Stanley Chang is also the guy who wants to tax you for what you do in other states. Im talking about gambling. Actually, even if you dont gamble, just the fact of you going there, Stanley Chang wants to tax you
The Sr complex looks scary.. Not a solution infrastructure cannot handle such tall buildings!
Kanaka first! Repentance required. There’s no way around the truth of United States illegal piracy here.
its 90% home ownership. not 80%. its 80% public housing n 10% private housing
Absolutely not. Won't work in America. It's a "draconian" system in terms of America.
Setting up a Public Housing Board to build home? To compete with Private developers? Increasing supply to lower existing home prices?
Only reason it works in Singapore is cuz the Government is stronger than private interests.
Take note Its leasehold 99 years. Basically you just rent from gov as the landlord.
You are allow to sell your unit during that 99 years period or your children can inherit it as well , so it not totally consider a leasehold.
Because of scarcity of land, about 80% of land are owned by the government. The public housing are 99 leasehold. This mean they can take back the land and repurpose it . Owners get market rate compensation.
Race quota based ownership means no enclave. Thats a politically impossible in US
No other government can do this.
This means the government can plan very long term.
IfnUS wants to do that, they need to create a new area and do that on leasehold and plan an entire city.
Only lesson learn is do your SWOT & solve it pragmatically based on your situation.
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😂😂😂 looks so boring.
No talk stink 😅