I am in that reflective mood again. This time it is based on the horror stories that I read about London’s housing prices, post-general election thoughts on certain policies. Please indulge me while I reflect upon this.
There is a sort of goodness in our subsidized housing system, the HDB. It used to be a system to give us a roof over our heads. Nowadays, its purpose is still to do that, but many look at it as a way to build wealth through capital appreciation, monetizing to purchase future private homes.
As it is a subsidized housing system, the people are always critical about its affordability. Back before 2011, the problem have been that the supply have been so low to keep up with the rising demand.
Prices of resale and private properties climbed and people’s income could not keep up.
Sometimes I wonder whether that is the truth......