Length of loan is not the issue: Mah Bow Tan

[mrEngineer]

It is not the length of the loan but the percentage of monthly income repayable to the housing loan that matters, said Minister for National Development Mah Bow Tan

"But if people are not happy with the 30-year loan for whatever reason, they can always take a smaller loan," said Mr Mah

But a longer loan actually helps people to pay less, he added.

This is the kind of statement similar to banks whom advertises upfront benefits like vacation, laptop etc and not about the loan that u need to repay in the end.

I am completely baffled that a minister actually thinks it this way. He sounds like a courts salesman.

Is there any proof that people can get consistent salary increment each year that can significantly offset the interest accumulation for next 30 years?

If I were a resident of tampines grc, voting is a no brainer. We need to get him out: the inventor of BTO & ERP.