Your HDB home value will never drop says MM Lee

[ecimbew]

AS MOST Singaporeans live in HDB flats, Minister Mentor Lee Kuan Yew strives to make home ownership the most valuable possession for Singaporeans.

"85% of Singaporeans are living in HDB flats and we intend to keep the values of these homes up. It will never go down," said MM Lee.



The MP for Tanjong Pagar said that home renewal and refurbishing programmes in Singapore ensure that the value of housing here will continue rising.


He was speaking at the launch of Tanjong Pagar GRC's 5-year Master Plan on Saturday.


For more, catch this clip on RazorTV.

http://www.straitstimes.com/Breaking...ry_647217.html

[DC33_2008]

Does it mean private property prices will not go down too?

[ecimbew]

Maybe...

Ok this is the entire speech he made on home ownership

http://www.razor.tv/site/servlet/seg...ion/60940.html

[Concours]

Inversely he is telling parents that:

Your kids will have no affordable home to make a family.

Anyway its not true. After 97, HDB home values went south and remained there for almost a decade.

This minister is forgetful, not worth the $$ paid for his service as what he claimed.....long term forecasting.

He could not even remember the recent past!

[avo7007]

Does it mean private property prices will not go down too?

I don't think he is talking about private pty. His speech must also be take into context. To paraphrase LKY he said that as Singapore prosper and as GDP goes up, the value of HDB will never go down........

[proud owner]

I don't think he is talking about private pty. His speech must also be take into context. To paraphrase LKY he said that as Singapore prosper and as GDP goes up, the value of HDB will never go down........

so will private ...

notice they all stay clear of touching private ....

but indirectly if singapore prospers , GDP up ...HDB price wont fall ... then private also wont fall ....

[phantom_opera]

Pre 1992, CPF rate = inflation rate, post 1992, CPF OA drops to 2.5%, the only way to fight inflation is park $ in property.

Take HDB resale price index, does it match M3 growth?? 2005 Jan, take 100, now take 180.

M3 grows by 100%
HDB resale price index up 80%

Fair enough.