HDB raises income ceiling to $10,000

[Musicwhiz]

If HDB flats are truly meant to be affordable for the masses, then new flat prices should be pegged to the median income, since that's the target group of buyers. Annual revisions will enable the flats to always be affordable at X times the annual household income etc.

I always found it strange that the statistics had been available for the longest time for median salary range(s) in Singapore, yet somehow MND had steadfastly refused to peg the housing prices to this measure! All the endless arguments about affordability and loan tenure could simply be solved by pegging the housing price to the median income level, to ensure a couple has a decent chance of paying off the loan in say 15-20 years.

With the HDB becoming more "proft-oriented" (despite what the Ministers say), it now seems that the Government is sponging off its citizens and PRs!