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Apr 29, 2011
What WP should have advocated for housing
I REFER to Mr Ng Kok Lim's response ("Asset enhancement affects future generations too"; Wednesday) to my letter ("WP's plan leaves home owners vulnerable"; April 21).
I had argued that the Workers' Party's proposed single-tier housing policy to peg new HDB flat prices to median incomes across the board is unwarranted.
My concern is that the WP has forgotten that new HDB flat buyers will include second-time buyers (upgraders and downgraders) too.
Wouldn't it make more sense for WP to put forward a two-tier pricing proposal instead?
A more balanced and prudent proposal would be to sell new HDB flats to second-time buyers at the current pricing model (that is, tied to resale prices and then discounted), but for new HDB flats to be sold to first-time buyers at prices pegged to median incomes.
This two-tier pricing proposal would avoid the probable adverse impact on prices of resale units and at the same time help to ensure continued affordability of public housing to our successive generations of first-time buyers.
Shirley Chng (Madam)
http://www.straitstimes.com/STForum/OnlineStory/STIStory_662431.html
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