Public housing is affordable

HDB has reiterated its position that HDB flats are heavily subsidised and affordable. Let me for once agree that HDB flats are indeed affordable. The heavily subsidised part I will leave it to everyone to make their own conclusions. Now, did I say that HDB flats are affordable? I did not say it without reasons. HDB flats are indeed affordable to everyone. You just buy one according to your own financial position. But that is not all. As long as you have money you can buy a HDB flat. The only difference, don't quibble, not nitpick, is that the money you have will buy you a smaller flat as days go by. Still affordable, definitely, only getting less for what you pay for. And paying longer and longer. Actually the people buying public housing should be very contented to have a roof over their heads. Be grateful. That is what public housing is all about, affordable and cheap. If you want good and big, go and buy The Sail or something like that. Those buyers are not complaining and are happily paying for what they get, good value for money.


Wally Buffet said...

You buy high you also sell high mah.

Don't just look at an issue from one angle lah uncle.

redbean said...

that's true. buy a $300k rm flat today and 10 or 20 years down the road, sell it for double.

find the $300k first.

Anonymous said...


it will be wonderful to pay $300K today and be able to get double the Amount ten to twenty years down the road.

But, it could be fat hope or pure hallucination. The downside is more probable.


Wally Buffet said...

You forgot about inflation.

Wally Buffet said...

When your dollar is halved in real buying power in the next twenty years, the $300K flat will have to double in value.

Simple economics.

Wally Buffet said...

If you leave the 300K in the CPF, in 20 years time, your real buying power for that money is halved to 150k. If you use it to buy a HDB, your 300K investiment will keep up with inflation and by that time you can sell it for 600K.

Also you don't need to carry your sack of money to the HdB to buy. Pay as you earn mah.

TSk, tsk.

redbean said...

wally, you forgot that if you pay $300k in 20 years, your interest will add up and you actually pay $600k by then. then if you sell it at $600k, you are getting back what you put in and the value of the $600 is probably $300k.

none the wiser, none the richer.

Wally Buffet said...

hello, the roof over your head for 20 years don't count meh?

redbean said...

ya it counts. but the formula of doubling and tripling must crumble up to a point like building a pyramid scheme or any economic growth formula.