Do you believe that you own your house? Or even your car? Do you believe that your house is an asset? Netter Benjamin weighs in on the matter:
"'When you buy a car, how long can you use a car for? Is it a rental car, or your car? A 99-year lease is far longer than 10 years. It is yours. It is an asset. It is owned by the homeowner.' This is what National Development Minister Lawrence Wong said when asked if the 99-year lease on HDBs is actually a form of long-term rental.
We are forced to sell the cars we "own" after ten years, as compared to other countries where they own the cars for as long as they are alive/until the car is sold off. Even if we really believe we are owners of the cars, the lease agreement confirms that HDB is the lessor and the buyers are lessees.
Is Lawrence Wong blatantly lying to us? Does he think that the citizens of Singapore are stupid enough to take his word as it is?"
Credits to Benjamin for his thoughts on the matter.
