TOTD: HDB Issue - Never Populist, No Longer Lone Voice Again

Thought of the Day - Never Populist, No Longer Lone Voice Again

I was having a discussion over the Asset Enhancement Scam and all the issues involving HDB in my High School Whatsapp group and one of my friends wrote that I should not harp on the truth of HDB lease ownership and by reading the comments on social media, see what they want and sing their tune to get their support.

I paused for a while and I replied, I have NEVER been populist in my approach and most of the time, I turn people living in fantasies and myths into reality.

Unlike some politicians who would be that opportunistic and even agree with a BAD policy like Asset Enhancement Scam just because popular opinion of GREED was in support of it due to short sightedness, I chose to walk the less chosen path of going against the grains of popular opinion.

I would call a spade a spade, nothing else.

Asset Enhancement Scheme is a scam and it is important to make the point that you don't own any asset when you buy HDB LONG TERM TENANCY agreement because...


1) You don't even own the HDB flat as a property nor the land, what "assets" are you talking about?

2) In all normal TENANCY agreement, it is the responsibility of Landlord to do major maintenance and upgrading, so why are Singaporeans asked to pay for upgrading?

3) It is total Bullshit to say "GOV subsidize" your upgrading but the reverse is true, Singaporeans are subsidizing the GOV in upgrading!

4) You may think you would gain great "profits" when HDB prices are pushed up but at whose cost? At the cost of the buyer of your HDB PLUS the cost of higher HDB prices for your children and grandchildren!

5) Who are the ultimate Gainers from high HDB prices? SLA via higher land sales, HDB via more interests earned from loans and as the monopoly supplier of HDB flats and banks that make mortgage loans!

That's the reality of Asset Enhancement Scam.

I was the lone voice in the past fighting against HDB policy but not anymore. Glad that many have awaken.

I am so happy to read many other Singaporeans are speaking up about the Truth of HDB “Ownership”, against the PAP’s misleading narrative which is built on a total lie.

All scams are built upon ignorance and GREED of the victims, that’s why scamming lies could become some sweet tunes to these unsuspecting people.

It is my mission to exposed the bad scam of Asset Enhancement Scheme because it would be disastrous to our future generations for it to continue.

I am not against HDB as a PUBLIC HOUSING and I am even okay with the fact that there is no REAL OWNERSHIP of assets but just a prepaid long term lease of tenancy.

But I am against PAP political sophistry to turn HDB into an evil weapon of mass destruction of Singaporeans CPF retirement financing plan just for its own political self interests.

It is a total oxymoron idea to pursue a policy that will inflat HDB prices forever when the main aim of Public Housing is affordable housing for all Singaporeans!

The reason why I was so pissed off with MBT back in GE2011 was that he kept claiming HDB is “affordable” despite the fact that majority of new generation Singaporeans were made to pay more than 25% of their salaries for 30 years mortgage and yet he still claimed it is affordable! The direct consequence is, they will have less than 11% of savings in CPF for retirement funding! Any financial planner would tell you that this is definitely not enough for middle lower income earners!

Moreover, after paying their 30 years mortgage, they will find themselves stuck with a depreciating HDB value with totally insufficient CPF for retirement!

It is a huge time bomb of massive destruction in the making, all because of PAP’s manipulative moves in hoodwinking Singaporeans into believing this Asset Enhancement scam.

It always pains me when I read ignorant young couples forking out huge amount of money up to a million to buy a HDB lease of tenancy which s less than 80 years! We have to continue fight the PAP evil propaganda of HDB flats is an asset that will appreciate forever in order to drill it down to Singaporeans, it is nothing more than a paper that let you live in that flat for a time frame.

Singaporeans should change their mindset about HDB as investment. It is just public housing. All public housing are literally OWNED BY GOVERNMENT and they should be misguided and misled by PAP that they could use it to earn huge profits. It is your home, not an investment.

And as public housing, it should priced as such, Cost Plus, instead of “market price”. Only then, we could normalize and stabilize housing cost to all Singaporeans.

I hope that more and more people will have solid grasp of these HDB issues and help to spread the words so that we could build the Right social cultural mindset towards HDB as public housing.

Goh Meng Seng