Outdated ideas on home ownership and land shortage are crippling us

Buyers of HDB flats must accept that these flats are sold on leases that decay to zero at 99 years

With the recent cooling measures introduced for the private residential market, discussions around the decaying value of Housing Board (HDB) flats aged over 40 years have quietened down for a while.

While the Government has said this is an issue it will study, as resolving it requires serious trade-offs, my concern is whether we may be tempted to kick the proverbial can down the road for future generations to inherit the consequences. As a society, we may be too wedded to outmoded ideas to tackle the issue realistically.

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A version of this article appeared in the print edition of The Straits Times on August 14, 2018, with the headline 'Outdated ideas on home ownership and land shortage are crippling us'. Subscribe