02 Jul '11, 4pm

HDB and Ministry of National Development need to go back to the first principles

HDB and Ministry of National Development need to go back to the first principles

The median resale price should already include the COV. Resale price is COV plus valuation. I can generally agree with your measure of affordability as four times the annual household income or 20 years of mortgage payment using 20% of household income. However, in your table of estimating housing affordability, the household income should not be correlated directly with floor area. There are many large families with low household income and many small families with high household income. Do you suggest HDB to put a cap on the floor area for which certain household with certain income can buy? To make the measure of affordability more equitable, i believe, the size of the family should also be considered when measuring affordability. However, since the household income fluctuates over time, such measure of affordability is far from ideal. I suggest HDB to revamp the whole ...

Full article: http://yawningbread.wordpress.com/2011/07/02/4927/

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