28-05-2025, 10:35 PM
The affordability of public housing and a strong supply of new BTO flats are priorities, says new National Development Minister Chee Hong Tat.
https://str.sg/KEpp
https://str.sg/KEpp
![](https://i.imgur.com/CLvY2jA.png")
The affordability of public housing and a strong supply of new BTO flats are
28-05-2025, 10:38 PM
Here is a list of bullshit statements or misleading implications from the article titled “The affordability of public housing and a strong supply of new BTO flats are priorities, says new National Development Minister Chee Hong Tat” (Straits Times, May 2025), and why they are bullshit:
---
🧻 Bullshit #1: “Public housing remains affordable for Singaporeans.”
Why it’s bullshit:
Definition of "affordable" is manipulated. The government often defines affordability by comparing the cost of a BTO flat to household incomes after grants. This masks the absolute price escalation and ignores the strain on the middle class who don’t qualify for significant subsidies.
Median prices of BTO and resale flats have increased far faster than wage growth since the 1990s. HDB resale prices have risen nearly 7x, while median household income rose only 4x in the same period. That’s real erosion of affordability.
---
🧻 Bullshit #2: “We have been increasing the supply of new flats to meet demand.”
Why it’s bullshit:
Delayed reaction to housing crunch. The ramp-up only came after years of underbuilding (2013–2019), which caused the resale market to overheat and BTO application rates to spike.
Increasing supply now doesn't help those already priced out or forced into long waiting times.
It also ignores the location mismatch—flats may be in less desirable or inaccessible areas that don’t align with actual demand (e.g., mature estates).
---
🧻 Bullshit #3: “New classification system (Standard, Plus, Prime) will keep flats affordable and fair.”
Why it’s bullshit:
The new categories come with longer Minimum Occupation Periods (MOPs) and resale restrictions, which may trap lower-income owners who need flexibility to move.
It creates a tiered system where desirable locations are only accessible under heavy state controls, turning homeownership into a form of leasehold dependency rather than upward mobility.
---
🧻 Bullshit #4: “We price new BTO flats below market, with generous subsidies.”
Why it’s bullshit:
“Below market price” is a circular argument, because HDB itself defines the market via past BTO and resale prices. They’re not pegged to construction cost, which would be a more objective measure.
The supposed “generosity” in grants is only relevant to first-time buyers and excludes a growing number of middle-class Singaporeans.
---
🧻 Bullshit #5: “We will ensure affordability for future generations.”
Why it’s bullshit:
That’s just a vague political promise. Without capping land costs or revising the land sale model (where HDB pays SLA at market rate), prices will always trend upward.
Future generations are locked into higher starting prices unless structural reforms are made—which aren’t even on the table.
---
🧻 Bullshit #6: “The government will never allow housing to be unaffordable.”
Why it’s bullshit:
The current system allows for resale market inflation, speculative buying, and huge windfalls in mature estates—all signs of a profit-driven housing market dressed up as public service.
If the government really believed this, they would peg prices to median income multiples or cost-plus pricing models, but they don’t.
---
Summary:
The article is full of surface-level assurances that ignore structural causes of unaffordability: rising land prices, profit motives embedded in public housing, and inadequate supply in past years. The language used is politically safe, but it evades accountability for long-term policy failures.
---
🧻 Bullshit #1: “Public housing remains affordable for Singaporeans.”
Why it’s bullshit:
Definition of "affordable" is manipulated. The government often defines affordability by comparing the cost of a BTO flat to household incomes after grants. This masks the absolute price escalation and ignores the strain on the middle class who don’t qualify for significant subsidies.
Median prices of BTO and resale flats have increased far faster than wage growth since the 1990s. HDB resale prices have risen nearly 7x, while median household income rose only 4x in the same period. That’s real erosion of affordability.
---
🧻 Bullshit #2: “We have been increasing the supply of new flats to meet demand.”
Why it’s bullshit:
Delayed reaction to housing crunch. The ramp-up only came after years of underbuilding (2013–2019), which caused the resale market to overheat and BTO application rates to spike.
Increasing supply now doesn't help those already priced out or forced into long waiting times.
It also ignores the location mismatch—flats may be in less desirable or inaccessible areas that don’t align with actual demand (e.g., mature estates).
---
🧻 Bullshit #3: “New classification system (Standard, Plus, Prime) will keep flats affordable and fair.”
Why it’s bullshit:
The new categories come with longer Minimum Occupation Periods (MOPs) and resale restrictions, which may trap lower-income owners who need flexibility to move.
It creates a tiered system where desirable locations are only accessible under heavy state controls, turning homeownership into a form of leasehold dependency rather than upward mobility.
---
🧻 Bullshit #4: “We price new BTO flats below market, with generous subsidies.”
Why it’s bullshit:
“Below market price” is a circular argument, because HDB itself defines the market via past BTO and resale prices. They’re not pegged to construction cost, which would be a more objective measure.
The supposed “generosity” in grants is only relevant to first-time buyers and excludes a growing number of middle-class Singaporeans.
---
🧻 Bullshit #5: “We will ensure affordability for future generations.”
Why it’s bullshit:
That’s just a vague political promise. Without capping land costs or revising the land sale model (where HDB pays SLA at market rate), prices will always trend upward.
Future generations are locked into higher starting prices unless structural reforms are made—which aren’t even on the table.
---
🧻 Bullshit #6: “The government will never allow housing to be unaffordable.”
Why it’s bullshit:
The current system allows for resale market inflation, speculative buying, and huge windfalls in mature estates—all signs of a profit-driven housing market dressed up as public service.
If the government really believed this, they would peg prices to median income multiples or cost-plus pricing models, but they don’t.
---
Summary:
The article is full of surface-level assurances that ignore structural causes of unaffordability: rising land prices, profit motives embedded in public housing, and inadequate supply in past years. The language used is politically safe, but it evades accountability for long-term policy failures.
28-05-2025, 11:17 PM
this word “affordable” had been used for the past 20 years in whatever product and service they try to sell, and is still begin used now to pacify the people over the ever rapid rising cost here.
how on earth are we to believe that this minister can resolve it in the next 4 years
how on earth are we to believe that this minister can resolve it in the next 4 years
.
28-05-2025, 11:33 PM
(28-05-2025, 10:35 PM)Bigiron Wrote: The affordability of public housing and a strong supply of new BTO flats are priorities, says new National Development Minister Chee Hong Tat.
https://str.sg/KEpp
In general correct for BTO but as PSP mentioned
straitstimes.com › singapore › housing › over-50k-flats-to-be-launched-from-2025-to-2027-spore-will-exceed-5-year-hdb-flat-launch-target
Over 50000 flats to be launched from 2025 to 2027 - The Straits Times
17 Jan 2025 ... In February, HDB will launch 5,000 BTO flats and another 5,500 ... HDB housing loans from 80 per cent to 75 per cent in August 2024. At ...
straitstimes.com › singapore › fewer-marriages-in-2023-in-s-pore-after-surge-in-2022
Fewer marriages in 2023 in S'pore after surge in 2022
15 Jul 2024 ... A total of 28,310 couples registered their marriages in 2023, a 3.7 per cent fall from the record high of 29,389 marriages in 2022. The data was ...
marriage per year is more than yearly BTO
so significant number have to buy from Resale at mature estate
Resale price is at epic price based on GCT, LKY standard.
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