Tag Archives: Affordability

It states that “Overall, new HDB flats have remained affordable, the housing board said. In 2014, first-time home buyers used less than a quarter of their monthly income on average to pay for their housing loans, below international affordability benchmarks of 30 to 35 per cent, HDB said. It added that about 80 per cent of the first-time new flat buyers also service their monthly installment using only their CPF savings, with no cash outlay required.” This logic of affordability may be flawed because if you couldn’t afford it – you wouldn’t buy it in the first place.

Please find reproduced below what I feel are the most “scary” answers in the MediShield Life 101 FAQs published on 22 April.

On Thursday, in Minister Chan Chun Sing's sharp rebuke to SDP Head Chee Soon Juan, he repeated the government's claim that families earning $1,000 per month can afford a HDB. He said: “Singaporean families earning $1,000 a month can indeed afford their own flats because of various housing grants,” Mr Chan said in a letter to the local press. “As a result, the lowest 20th percentile of households have an average net home equity of $200,000. That is an achievement no other nation in the world can boast of.”

I think Roy Ngerng Yi Ling should make an offer on the damages demanded by the PM. Taking down the offensive post and posting an apology which has been circulated worldwide are sincere acts of admitting his mistakes. I don't think the PM who aspires to build an inclusive society is seeking an astronomical amount in compensation from Roy. So, make an offer in the best of your financial ability which is affordable to you, Roy.