Actually, I agree fully with Wiseman's points. He makes it in, obviously, a pretty blunt manner, in a tone that may be uncalled for, but the content is sensible.

Look, its a bit of a house of cards now:
- When people are making $400k from flipping their HDB flat, you are creating an artificial housing market.
- They buy a $1mn condo, and they are only financing $600k from salary ($400k from equity gains) --> that's why all the price to income ratios in Singapore are out of whack
- This phenomena artificially inflates HDB resale prices as well.
- Then BTO HDB prices were pegged to resale prices and not to salary *slaps head*
- That's why if you ask your parents and grandparents, most paid off their HDB flats within 10-yrs last time--> Now, people hold on to their mortgage for 20-30 years
- This whole system worked very well when we were moving from 3rd world to first, when salaries were increasing very quickly, when interest rates were coming down --> even though housing prices were increasing quickly, the younger folks could afford it because of quickly increasing salaries
- Now, we are at all time low interest rates and pretty stagnant salaries, this system is a political timebomb