Rental unit fee draws ire at City Hall
Most heavy borrowers in Singapore have above average income levels, which means they are less likely to default on their loans, Channel Newsasia reported Mr Wong as having said. And just last week, the Sunday Times reported that those who have been defaulting on their Housing Board (HDB) home loans has halved from five years ago. So, the question is obvious: If HDB flats are affordable to anyone with as low a salary as S$1,000 a month, if our household debt-to-income ratio are not more stretched than they were in the last decade, and if fewer people are defaulting on their housing loans, why are we seeing an increased demand for cheaper rental flats, and especially in the past five years or so? The reversal from Mr Mahs vow in 2006 to not provide large numbers of rental flats, even if low-income families are clamouring for them, to Mr Khaws urgent promise in 2011 that actually we need to build by tens of thousands, and the earlier the better, it seems that there is an underlying problem with the affordability of our public housing flats for the lower-income, contrary to what the government may claim. If more have to turn to rental flats which is a housing option of last resort, as Mr Mah put it then perhaps we should take a deeper look and get to the root cause of this. Will building more such flats, which is a welcome move, solve the problem of more Singaporeans having to depend on such housing?
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1 Marie Szaniszlo A large, sometimes raucous turnout by landlords at a City Hall hearing yesterday turned up the heat on Boston lawmakers to repeal an ordinance that requires rental property owners to register and pay a $25 fee for each apartment they own and submit to an inspection every five years. I believed it would benefit tenants, City Councilor Charles C. Yancey, who is running for mayor, told the crowd of more than 100 people who filled the council chambers. But he said, This may well be viewed more as a revenue generator than an ordinance to deal with problem properties. As of last week, 95,000 of the citys 140,000 rental units had been registered under the new law, which is designed to prevent tragedies like the death last spring of a Boston University student in an overcrowded apartment that hadnt been inspected in years, said Brian R. Swett, chief of environmental and energy services. Skip Schloming, executive director of the Small Property Owners Association, said the ordinance is destined to be ineffective because problem property owners will not register with the city.
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Unconventional Play on Rental Properties
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