Serious PAP’s Perversion of HDB and the Death of the S’pore Middle Class

Papsmearer said:

The old timers benefited because the rule was different back then. It has nothing to do with free market whatsoever. When an entity controls 80% of the land in singapore, there is no such thing as free market. The old timers bought when the HDB sold at cost. Then they also bought when the rule said you had to sell the flat back to the HDB at what you paid for it, hence, no benefit to anyone. But by changing the rules, and allowing the flat to be sold to anyone, plus the allowing of the use of CPF rapidly resulted in the price increases.

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mahjongking said:

exactly what i meant, allowing flats to be sold to anyone jacks up the prices for locals…….so whats the point of being a citizen and serve NS?

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EnBloc said:

Good argument by TS. However, as an accidental property investor who benefited from windfall from first HDB direct purchase and one private enbloc, I am delighted with government housing policies.

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JohnTan said:

HDB public housing is of pretty high quality for public housing. Try living in HK's public housing.

Most sinkies, including myself, profited handsomely from our HDB. Vast majority of sinkies made a huge paper profit once the MPO period is fulfilled. There are enough news of sinkies who sold off their BTO flats in Queenstown, Bishan or Toa Payoh, Tanjong Pagar to fetch prices above $600k, while paying far less for it when they bought 5 years ago.

Singapore is not a big country with lots of land. If you want to fulfill some itch of having a piece of paper stating that you own the land for life, go move to places like Malaysia or Australia. Just go if you think Singapore is such a pathetic place to stay in. You are not forced to stay here. Quit whining like a little girl already.

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