Mah Bow Tan still insists HDB is affordable
It only takes 30 years, 2 incomes and 30% of the 2 incomes to pay for the HDB flat. This is affordable! How many of you agree that this affordable formula is fair? This formula means that for the first 30 years of one’s working life, there could be very little saving for retirement. Most could only start to save after repaying their 30 year loan. So don’t ask why you don’t have enough savings for retirement. The other point which this formula dictates is that both husband and wife must be working to be able to afford the HDB flat. One income, forget it. And there are families that have to live on one income, by choice or by circumstances beyond their control, or by tragedies. The people must denounce this formula as unaffordable. 30% of one income for 30 years is already too much. It was 20% of one income for 20 years for a 5 rm flat for a fresh graduate. But the goal posts have been shifted during the last decade that people have come to accept 2 incomes and 30 years as the norm. It is not, and it should not be the case. Anyway, many daft Singaporeans will disagree with my position. Good luck to you and your high incomes to pay for the little first class flat. Go ahead and vote for this affordable housing policy. Oh sorry, if your incomes are high enough, you are forced to buy private to make the private developers richer. You can’ t buy HDB under the current $8k/$10k ceiling.