I have always believed that HDB flats should be for Singaporeans who need them. HDB flats are subsidised public housing, after all. If we do not need subsidised public housing to stay in, don’t be a dog in a manger. What do I mean by this?

Well, I have heard quite a few accounts of how some people buy HDB flats only to rent them out without ever staying in them. The rental yield can be as high as 10% per annum! Really, I am not kidding. This is an amazing yield. Imagine that in 10 years, that flat is virtually free. Then, imagine a high yielding asset for passive income for the next 89 years. From subsidised public housing?Something sounds very wrong, doesn’t it?

So, do I think that HDB should compulsorily acquire such flats from errant owners? Yes. Obviously, they do not need the flats. Why shouldn’t they be evicted?…