The article from the Straits Times Forum on 07 Oct
2006
WHEN my wife and I read about the Housing Board's first
public-housing project by a private developer, our eyes lit up with
hope - until we learnt that the same qualification rules
apply.
To the Government, my family is one of the better-off ones. With a
combined income of more than $8,000, we are deemed to be well off
and, thus, not eligible for any subsidies. The only housing options
available to us are private housing and older, yet more expensive,
HDB resale flats.
My peers and I belong to a group who are not wealthy enough to live
comfortably - despite what many think - yet not poor enough to
deserve any benefits from the Government. Should misfortune strike,
we are not eligible to downgrade our housing immediately because of
the 30-month time-bar.
My family, rather reluctantly, bought a private property because we
were making slightly more than $8,000 a month when we needed a new
home five years ago. None of us really had any cash savings then
and we ended up with a huge loan from the bank.
After five years of paying more than $30,000 in interest per annum,
we hardly have any savings. Meanwhile, our property has depreciated
by $200,000 while our loan remains slightly above $500,000.
My wife and I would like to expand our family. We did our
calculations and planned our future but still found it difficult to
move out of our Dink (Double Income, No Kids) status.
What the Government said about making it easier for couples to have
kids, the need to have kids, and the need to retain talent meant
nothing to us.
We played a role in Singapore's success, contributing to the
government coffers via income tax, but we always feel left out
where benefits are concerned.
Not so long ago, I broke out in cold sweat after hearing some
minister propose means testing.
In Singapore, it is neither the Malays nor the Chinese that are
marginalised; it is the families earning $8,000 and more.
Perhaps it is time the Government relooks income qualifying levels
to more accurately reflect today's standard of living.
Lee Wee Chong
