It's termed as budget for 2008, thus every announcement during the budget report would start implementing starting January 2008 unless broadcast otherwise.

Sorry, got to disagree with you.
EPF is retirement money for those who don't know how to plan.
That should be the correct term.

Again, if you are to plan properly; wouldn't you saving equivalent to your retirement?

House are priced high because the demand is there.
When there's no demand, nothing can be priced high.

The problem here is not about withdrawing EPF for paying housing installment.
EPF generally like I said is for those who doesn't know how to save for retirement.
We're not totally talking about investing in property only if you are to know what we actually meant. i.e. me, pai and dreamer101 (if I mistook you 2, than sorry).
Again back to the actual scenario.
You have already bought a property, and like you mentioned...the interest fluctuated like nobody's business over the years; so isn't it better to settle the mortgage first? Provided that you do not only rely on EPF as your "retirement fund". If you do, than sorry, I would classify you as those who do not plan for retirement.
Ok, back to the property you bought, you have to know for what purpose is that for. Your own stay or investment. You have to remember that you've already bought the property and servicing the loan repayment. Thus your long ramblings on cheated by developers and debts and overpriced and all is void as you have already committed yourself to the property.
For own stay, I would recommend faster settle the loan whenever you can; i.e withdrawing from EPF is a good choice.
But purely for investment; I would recommend leveraging and try not to use too much of own money. So EPF withdrawal for this case; no need.

Try to get into our head that EPF is not the only way to retirement which the Government tried to brainwash us.
One day when EPF got mis-managed, we're basically left with nothing. So why not do something on your own and rely on your own effort rather than rely on somebody else? Basic saving for retirement is a must besides EPF contribution!

This post has been edited by b00n: Sep 16 2007, 10:24 AM