21 Apr '11, 12am

Our reader explains why he prefers an affordable home over asset enhancement. #SGelections

THE Government argues that by enhancing the value of HDB homes (read: increasing the prices of homes), it gives a valuable asset to Singaporeans and a stake in the country ('WP's housing proposal irresponsible, says Mah'; April 15). I find this problematic on several counts. First, for the majority, the home is an indispensable basic necessity, not a disposable asset. When prices of homes increase, the average home owner is not able to gain from it - while he is able to sell at a higher price, it also means he has to buy the new home at a higher price. Only the rich who can afford more than one home stand to gain. Second, it deepens the divide between the haves and have-nots, for those financially less well off either find homes slipping beyond their reach, or face the heavy burden of financing a huge loan. Third, the objective of asset enhancement through rising home pric...

Full article: http://www.straitstimes.com/STForum/OnlineStory/STIStory_...

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