29.8C indoors :-(

It was a no fun 29.8C indoors last night and I am amazed it took us so long to turn on the aircon!

Not surprised that we are inundated by rain this morning. That familiar pattern.

iPhone 5 vs Galaxy S3

Punch your way to the verdict which CNet gave the iPhone 5 a tiny edge over the Galaxy S3. Now if you add the price and availability these phones, the winner has to be the Galaxy S3 right? And I haven't even mention that with an ageing population, i.e., poorer eyesight, the larger display is more practical and desirable.

I have gone S3. We will pick up two more in the next few weeks.

on seng poh road

Found this free kindle book, "on seng poh road" yesterday. I just checked to make the link and found that it has gone from zero cents to 99 cents now.

I am only interested in this book because that was my first stop after KK hospital. Stephen Black told the story of my parents' time. It is fascinating to read the author's description of the place and on occasions imagine your parents telling you stories of the place in Teochew as you were growing up.

I was early again, i.e, 4am and finished this very short book within the hour after I checked my emails.

School Fees from 2013

Received this from the school via my daughter this evening.

International students will from 2013 pay between $450 to $650 a month. PR will need to pay $120. Citizenship has its privileges: $5

This simply reminded me of the time we were in NUS. They made us picked up the cheque from the government and then visit the Bursar's office to pay our school fees. Just in case we do not know how much we have been subsidized.

Do I remember how much $$$ the government paid for my university education? No. I remember my father paid about six hundred dollars and proudly said it was well worth it.

I bet my daughter do not know how much more PRs and international students are paying. That's what this blog is for isn't it? To remember. Meanwhile most people wouldn't remember, and the government communication objective is not achieved.

Update: 12:15pm.

Oops! Got picked up by Singapore Daily. On and off I see my posts featured in their high traffic site. They and a few others regularly bring a lot of traffic.

Although blogging for myself and family I accept that if it connects or resonates with others and they find them useful, so be it.

Property: A developing problem for tomorrow

I completely agree with this post in response to End of Valuation + COV formula in the Forum pages. Niall Ferguson in his "The Ascent of Money" dedicated a chapter on the dangers of mixing up property as an asset with housing in "safe as property", i.e., not as safe as you think.

On hindsight it showed the government child like belief in economic theory. There is nothing wrong with those theories provided you are very familiar with the circumstances which they apply. Also please use your common sense first then the theories can be a good servant.

Now we are stuck. No government has the courage to unwind this. One day the problem would become a really hot potato. It will not be pretty and definitely there will be painful consequences.

I can't speak for the broader society, but the smart investor must cash out early. Property prices have plenty of flexibility in a global city situated in a large country. Remember we are just a tiny city state.

I hate the politics of fear and hostage. It never ends well.

• 

  Christine Sng Mechtler Suresh, while it is true that "market forces determine property prices in Singapore", Lim Kim San never let that stop him from "under-pricing" HDB flats when he embarked on the HDB's mission. Otherwise, you think he could have housed the peasant population in those early years? It was Goh Chok Tong who first enunciated the philosophy of private sector economics in pricing public services - not only housing but also healthcare. That was when HDB started pegging prices of their flats to "market forces" in the form of land sale prices, hence, private property market. He gained acceptance for this upward spiral by selling Singaporeans the notion of "asset enhancement". But every investor knows that a home is a home and not an "investment vehicle". We should be buying cheap homes-to save rent and to have the security of a roof for our dependants-but saving our hard-earned money for real investments such as a second (investment) property or other investments. How can a home be used as an investment vehicle when the only way to realise the gains are to become homeless, or return the investment gains to HDB or another developer (since you need to buy a new home)?? When do you see real money from selling your "investment", that you can put to other uses-which is the real purpose of investment? In Europe and the US, outside of the major cities, such craziness does not exist. A home can cost £/$/€ 80,000 for decades because people don't use it to speculate for capital gains. And that should be the way HDB should be. Which is also why DBSS and private developers have NO role in public housing-it should not be a market segment for profit-seeking developers. And all who feel public housing is too basic and not good enough for them should look to private housing-ECs, massionettes, and all fancy developments should not be the purview of public housing. And all interested in "investing" in the property market should do so in the private housing, commercial & industrial property space.

  4 hours ago via mobile · Unlike · 4

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  Christine Sng Mechtler And pricing of any public good or service is a matter of political philosophy, more than anything else. Why was it okay for Lim Kim San to price HDB flats at cost+ but nowadays we are told we are "robbing the reserves" if we don't pay market rates? Is anyone accusing Lim Kim San of robbing the reserves?

  3 hours ago via mobile · Like

Wifey's Flat Clarks

Wifey's new Clarks ($138). Came to me via WhatsApp.

I hope this pair works. It would take a while for her foot to heal. Who would have imagined how badly it has turned out walking into furniture; and it wasn't even rosewood.

She is lucky. My friend fractured her foot also walking into furniture at home.

Rare Kindle Reading Pleasure

Had the rare pleasure of reading with my Kindle for about half and hour at the beach park this morning. The weather was just splendid with the cooler temps and an absent sun.

I discovered that the bicycle rental shop next t Burger King no longer offer one hour rental, one hour free during weekends.