The Difference Between Owning and Renting
I’ve heard horror stories of people with steady jobs not being able to afford homes in major cities. But we live in Singapore, where 9 out 10 of us are able to own homes.
A housing lease is basically a contract between us and The Housing Board.
No matter which way you see it from, rights to the land always and unequivocally goes back to the state. Freehold property may also get subjected to acquisition and taxes. No matter what, the property rights go to them.
But what goes often unmentioned is the fact that private property owners operate under the same rules too.
No matter how long a lease lasts, it’s still a lease. Saying that we don’t own houses, merely rent them is unwarranted.
Why should someone sow uncalled for information to cause panic in the general public sectors? Why waste time discussing something that doesn’t won’t make much of a difference in any way that matters?
It’s not like people were misled into signing on their respective leases. They knew about the 99-year lease just like the rest of us. These words don’t mean anything on paper. They only serve to sway public opinion and change minds about something that they’ve always known anyway.
Trying to make it seem like homeowners don’t actually belong where they belong only increases public unrest.
While it’s true that the shorter the lease, the less it’s value, it does no one any good to stir up trouble by saying that we don’t own what we own. It knocks down the citizen morale.
“ It knocks down the citizen morale.”
It’s important to be truthful, but not without tact. We can face facts without discouraging an entire population of homeowners. Let us strive to improve the situation without unwanted discord.