Exactly ... all million dollar quote here are just paper money and most of it are debt, not net worth. Liquidating a fixed asset to liquid cash is not an easy task, the successful rate are also very low. Now see new BTO prices are cheaper than old resale HDB, who are so stupid want to buy the resale HDB. Most also didn't calculate operating cost, renovation, furniture, charges, which can be high to sum up. So actually their fixed asset here is just a sinking hole to throw more of their cash in.

Then how about condo. You see now condo price is at least $1.5m. With this amount of price you need at least $5k-$10k/pm to serve your mortgage, however the monthly rental you get is only $3k-6k. How you get the profit anyway. Infact, you pay for your tenant to enjoy your condo. So in other word, you worked hard to pay off and other peoples enjoy it. So what's the point anyway having million dollar asset but you didn't enjoy it. It's pitiful anyway.