Property Market Sentiments

[CY09]

its evident that HDB BTO flats were serving less and less of its function as home for nation building, instead citizens were getting flats to flip for a large profit (aka like winning Toto) or using it as a dividend machine generating 6% rental yield and on leverage.

This was pushing housing prices up such that future generations who are not eligible for a flat were being priced out. To make matters worse, a growing segment of the citizenery called the Singles and couples who formed their union at a later age were excluded from this BTO lottery due to policies and stages of life cycle. Singapore was turning into an unfair and inequal society where in the Kantian ethics, there was no fairness under the veil of ignorance.

This is why during the NDR, the words "lottery effect" and "fair" were frequently mentioned. What the government had to do was make housing policy what it was - a HDB home is for nation building, it has to be fair and allows social integeration. HDB was failing on all three principles. Hopefully in 15 years time, we get back to the respectable times we had in the past