In the wake of the Falkland Campaign that waged between Argentina and the United Kingdom 38 years ago, Margaret Thatcher said this.
“There is no prouder word in our history than ‘freeholder’”.
And that is a notion that has rung through the ages, with those in power knowing full well that the key to making people feel a sense of belonging is through home ownership.
It’s something that has to be earned through hard work – which gives people a sense of security when they have achieved it.
Furthermore, it gives people a stake in the country, which in turn improves family ties and bonding.
Unsurprisingly, this was a key point in Singapore’s history, where the PAP believed too that home ownership would drive national stability.
But as of recent years, people are starting to question this aspect of real estate.
More specifically, the future of a leasehold property...