23 Apr '11, 12am

"Asset rich, cash poor": A look at Mah Bow Tan's "asset enhancement" policy for HDB flats /via @acroamatic #sgelections

While busily arguing with the Workers Party, Mah slipped up and uttered a blooper. He said that he was "proud" of Singapore's asset enhancement policy. People who understand this topic will remember Mah's statement, long after the 2011 elections are over. For this statement is a very naive and foolish one. If you are too young to know what the AE policy is all about, just click here to read Tan Kin Lian's old post . His explanation is simple, short and sweet. Essentially, the AE policy makes HDB flats more expensive. According to Mah, this is a good thing because your home becomes more valuable. For most Singaporeans, this statement is largely nonsense. That's because people need homes. If you cash out by selling your flat, you still have to buy another home. If you buy a similar home, it will cost as much. So obviously, the AE policy is not making you rich. (God, this Mah...

Full article: http://mrwangsaysso.blogspot.com/2011/04/mah-bow-tan-is-p...

Tweets

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