Home ownership is largely widespread in Singapore, and most solutions to a change in living needs tend to start from there. We’ve consistently maintained one of the world’s highest home ownership rates at around 90% - the idea of buying a home is part of our social culture, and among many Singaporeans there’s an assumption that renting is money down the drain. It’s a last ditch move for young singles who need to be away from home, or a temporary arrangement while the new home is done up. But this mentality carries a real risk of unnecessary commitment. Just this week, for instance, I came across a homeowner who had barely lived in his unit for four years. But he was already looking to sell it and buy a new place. I presumed this was a typical short-term flip, but no - in fact doing so would likely result in negative gains, after accounting for his renovation (he’d spent over $50,000 doing up...