Singaporeans Perplexed Over Whether HDBs Will Actually Reach $0 Value
SINGAPORE - A lively debate has broken out among Singaporeans over whether the value of HDB flats will actually drop to $0 when their 99-year leases expire.
On one side are pragmatic realists arguing that "of course it will go to zero, it's just basic math." On the other side are wide-eyed optimists insisting "the government will surely do something to help, they cannot just leave us homeless!"
The confusion stems from mixed messages delivered by leaders over the years. Back when he was Minister Mentor, Lee Kuan Yew asserted that HDB flats should be seen as "depreciating assets." Yet current leaders refuse to state clearly if leases will simply expire.
"The government is like that distracted boyfriend meme," said one netizen. "We keep waving our hands asking if our HDBs will really become worthless, but they just stare blankly, change the subject, and give vague non-answers."
Some believe PAP will use lease expiry as an election carrot, only extending leases if they win. As one netizen quipped, "Vote PAP, HDB renewed. Vote opposition, flat $0."
The debate continued, with some even suggesting "printing money" to bail out homeowners. Another resident proposed getting a divorce so spouses can each own a flat.
When contacted for comment, the HDB said they do not actually have a plan and are "just trying different things to see what sticks."
They pointed to ongoing experiments like the Lease Buyback Scheme, letting people sell back remaining leases, and the Voluntary Early Redevelopment Scheme (VERS) which rehouses people in newer flats before leases run out.
"We're taking an agile approach," an HDB spokesperson explained. "Throw spaghetti at the wall until something works. Should be fun!"
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