After the mention of this fact at parliament by our DPM, it has caused quite the uproar from Singaporean netizens. Some interesting comments I came across include:

– “If so, I should be owning 5 properties already. How come I have difficulty having even one!”
– “I have a friend who earns $1,200 and his housing loan is not approved.”

In general, most are in disbelief over this statement. However, this reflects how poorly informed people are of the various housing schemes and loan approval criterias.

My personal opinion is that the statement is not false but people’s perception that is the issue here. And their view is not entirely wrong as well.

First let us put the truth to rest. The housing minister has also produced evidence that it is indeed a fact. It is indisputable, a $1k income can purchase a hdb flat. However, and it …