BTO is the best system
Ho Geok Choo asked Mah Bow Tan whether HDB should return to the old system for flat application. Mah Bow Tan said negative. The BTO is the best system and it even reduced the waiting time from 7 or 8 years to the current 3 to 4 years. How can anyone argue against such logic? In the past the queue was 150,000 long and ended up with 31,000 surplus flats that needed 5 years to clear. Today we still have many times oversubcribed flats on launching but still not all flats are sold? How come? I think I can try to explain about the old system, the 150,000 queue and 31,000 surplus flats built. It was badly managed in the first place. There was genuine demand in the early stages when the baby boomers were starting to grow up and having families. And there was acute housing shortage. Of course some idiots allowed the flats to be overbuilt to the extend of 31,000 flats. If we have the talents like we have today, no such thing will happen. And the facts speak for itself. No more surpluses and more more 150,000 queue today. So Ho Geok Choo must have been satisfied that her question was answered. No more question. I ponder again on why there was no queue when a new launch was often oversubscribed many times over? Phantom buyers I think. And all the kpkb about young people not getting their flats are just false noises. What about those who could not afford to buy the affordable flats and thus never even make it to the application stage? Would they be considered as not applicable to the demand equation? What about those that were ruled out of the HDB scheme by virtue of their income, those exceeding $8k or $10k, or those who may meet the money criteria but because of their family commitments, could not afford to buy the flats they wanted to? These are not demands since they did not apply to HDB. And all the singles and those that cannot get together a family unit but still needing a place to stay, not part of the demand too? The BTO scheme is indeed very neat and clean. Those who for whatever reason, needing flats, but ruled out or cannot afford to, and never apply are not part of the demand and no need to bother or look at. So, since there are no application, so no demand and no need to build. Where got housing problem?