30 Aug '13, 6am

HDB has reneged on its duty of housing all citizens affordably

HDB has reneged on its duty of housing all citizens affordably August 30, 2013 by Ng E-Jay Filed under: Current Affairs and Politics Written by Ng E-Jay 30 August 2013 The Housing and Development Board (HDB) has reneged on its duty of providing affordable housing to all Singapore citizens by failing to increase supply ahead of demand in recent years, and by allowing prices to escalate so sharply that prices greatly outpaced the growth in wages. The government is now devising piece-meal measures to cool down the overheated property market. A few days ago, HDB implemented a new policy that requires that new permanent residents (PRs) wait three years from the time their residency is confirmed before they can buy a resale flat. After the 2011 general election which saw the vote share of the PAP erode to an all-time low, the HDB finally decided to get its act together, increasi...

Full article: http://www.sgpolitics.net/?p=8527

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