"How do you, as leaders, convince Singaporeans of that when they are already living in good-quality public and private housing?"
That question is not a problem for Singapore. Nor is it a problem for Singaporeans.
It is merely a politician's problem. Politicians always have to convince people of this or that. Are their claims actually true? That is a separate issue. The convincing is what the politician needs to achieve, irrespective of the truth of the matter. As I had said in my earlier post, PR and marketing are all part of the game of politics.
But should SM Goh have been so indiscreet? Should he have stated publicly, and in such an explicit manner, his agenda to convince the masses? Well, SM Goh does have his other reasons.
There's a property bubble out there right now, remember. SM Goh is trying to help suck a little air out of the bubble. In other words, he wants to send the message that "Hey, maybe you can stay put right where you are. Maybe you don't really need to move."
But of course, people will always aspire to live in better homes. It's human nature. And of course, there is "good-quality" housing in Singapore. There is even "great-quality" and "superb-quality" housing in Singapore. Whether you live in such housing is another question.
That takes us back to the theme of the personalised question. Most importantly, the individual has to make smart decisions about where to live and what to buy.
And when to buy it.
Incidentally, folks, in deciding whether you can afford a particular property, bear this in mind. The fact that a bank will not grant you a loan is a good indicator that you can't afford it. But the fact that a bank will grant you a loan is not a good indicator that you can afford it.
Remember - in doing its credit appraisal, the bank focuses on the risk that you will default (or be unable to meet your repayments). If the bank is happy to take that risk, then you get your loan. But the bank is not really interested in how hard you might have to save and scrimp and cut down on your other expenses, so that you can make your mortgage repayments.
In other words, the bank doesn't care about how much you might have to compromise your lifestyle, in order to afford your home. That's an assessment you'll have to make for yourself.