Is HDB The World's Biggest And Most Lucrative Get Rich Scheme, With A Legitimate Ponzi Touch?
Just for discussion. I give my view, you give yours. No need to get angry. Have some fun.
I have been thinking, how come my 3R HDB flat can be worth so much today. This year, one unit in my block was sold for about $380K. I dun know its original price, 40+ years ago. Probably less than 10K.
Those who bought their HDB flats in the past can sell at higher prices now. Those who bought early or earliest has the most % gain. Those who bought later, or bought resale units, pay more but if they have holding power, and kept their units until today, all would be able to sell at a higher price. Many readers here have relatives that bought their HDB flats a long time ago. Today their HDB flats is worth many times their purchase price. Owning a HDB flat is a very lucrative investment.
Many, including myself have made money from owning a HDB flat. I am richer now because I participated in this HDB housing scheme. I don't know if there are any other legitimate scheme in the world that would make so many people rich, if they qualify and a decides to participate, early.
I ask myself, how come buyers are willing to pay so much these days to lease space from the Singapore government. I believed HDB resale prices can only go up if more Citizens and PRs wants to buy and less owners want to sell. Why is this the case now, where buyers are willing to pay record prices for HDB flats. Could it be due to strong demand from immigrants, cheap money and the belief that owning a HDB flat is a good investment?
Can prices continue to go higher? Will those who buy now, get richer in the future? Many readers here would say yes. I am a little skeptical, as some other person has to be willing to pay more to participate in order for those who participated earlier to get rich. This is like a ponzi scheme, isn't it? Late comers pay more so that early birds can make money.
Will this legitimate HDB get rich scheme last indefinitely? Surely there is a limit to how much the younger generations can or are willing to pay for the older citizens and PRs to be wealthy.
I know the risks but I am going to continue being a part of this scheme. How can I get out? I need a roof under my head!