'Singaporeans are asset rich' Some are, and some are very rich. But for those living in 99 year leasehold, just don't be happy too early. The first batch of HDB flats should be about 40 years old by now. This means that in another 60 years they will become worthless. How's that for being asset rich? And actually the dwindling asset value will come sooner, maybe in 10 or 20 years time when the value of the asset is going one way, down, down and down and then out. And no matter how much upgrading and money put in, once the lease is nearing the end of its shelf life, it is like a man running out of time. All his properties and assets would mean nothing. Time out, game over.