On Dec 14, 2009, Minister Mentor Lee said "Singaporeans can expect the prices of
HDB flats to keep on rising as long as the economy continues to grow." The
HDB Resale Price Index was 150.8.
On March 20, 2011, Minister Mentor Lee told Tanjong Pagar residents "'85% of Singaporeans are living in
HDB flats and we intend to keep the values of these homes up. It will never go down." The
HDB Resale Price Index was 174.8.
On Nov 7, 2011, Minister Mentor Lee told Holland Drive resident Mr. Lim Tow Nam "Don't sell your
HDB flat. The price will go up". The
HDB Resale Price Index stands at 187.2.
Young people would have been better off listening to Minister Mentor's hard truths rather than advice on hard landing.