An honorable member of the Coffee Shop Has Just Posted the Following:
The HDB does not deny this. Its statement acknowledges that "housing is lower than what it could have been priced, were it set aside for private housing, and released competitively through land sales programmes."
It is an admission that HDB makes money, albeit less than if the land were to be sold "competitively" -- that is, to private developers.
And yet, in a recent dialogue session with Singaporeans, National Development Minister Mr Khaw Boon Wan said that the HDB lost hundreds of millions dollars every year providing flats for the people.
This seems hard to believe. Singaporeans are spending most of their CPF savings on their HDB mortgages and the Government is making a profit selling land for public housing. Yet, Mr Khaw claims that the HDB is losing hundreds of millions of dollars each year. If this is true, then one can only conclude that the housing system is run in a highly inefficient and, worse, unsustainable manner.
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http://yoursdp.org/news/2013-06-28-5627
Click here to view the whole thread at www.sammyboy.com.
03-07-2013, 03:30 PM
Who is lying - $8 Khaw or his HDB?
