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by shuckles
1214 days ago
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The HDB system's outcomes aren't great if not paired with abundant supply. Singapore market rents are growing fast, HDBs have all sorts of unsavory (to Americans) queueing and prioritization rules, and there are plenty of rent seeking HDB owners who sublet their flats at high prices. |
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The "problem" was that population growth kept up with supply - initially through an extremely high birth rate and then, when that collapsed, through extremely high immigration rates.
Given the high population growth and low availability of land the growth in housing stock has been pretty amazing. Both the quality and the quantity certainly blows the US and Europe out of the water.