从政府的态度看宏观走向HDB 2013/2014年度报告(当年是Home Ownership for the People Scheme的50周年)提到： "Ownership meant that they are now an asset-owning class, with a stake in the nation’s prosperity" 2018年部长提到(https://www.straitstimes.com/singapore/a-99-year-leasehold-flat-is-an-owned-asset-not-a-rental-lawrence-wong) "A 99-year lease is far longer than 10 years. It is yours. It is an asset. It is owned by the homeowner" "So long as we as a people and country work together to grow our economy and share in the wealth of economic growth, then going forward, our homes will be an important and valuable asset that we can use as a retirement nest egg" Asset，就是政府对HDB的态度。 HDB是民众的资产，如果把政府比作基金经理，把人民比作投资者，政府有义务让人民的资产增值。 现在刚毕业的小年轻，轻松买个BTO, 过几年卖了赚个10几20万或更多，升级成EC或公寓，岂不美滋滋。另一种情况，假设过几年房价反而跌了，屋主的资产缩水，你看屋主骂不骂街。