#201 a roof over my head

I’m grateful to our Singapore’s first echelon of leaders under the leadership of the then prime minister Mr Lee Kuan Yew who concertedly provided housing for her citizens.

Not that the government provided cheap-rented housing but they were able to come up with a national scheme known as the central provident fund where we were forced to set aside a sum monthly throughout our working life and we were able to use that saving to buy a housing unit of flats (apartments) built by the Housing Development Board — these were much cheaper than the condominiums in the property market. (Of course, if one considers one’s face more important, then one should consider purchasing a condominium!)

Today about 80%-90% of Singaporeans lived in these housing estates. I recall as I was growing up, I did wonder if I could purchase one when the cost of each unit had escalated as compared to the price that our parents paid. Nonetheless, in our twilight years, we could safely say we do own a home of our own.

Many expatrates, especially those from the West were able to accumulate after a two-year contract working here to purchase a property of their own in their home country.

Sadly with the subprime crisis in the US, I feel sad and bad as I read about many new homeless resort to living in cars to tie over this critical period.

Many in the West who could afford a good spacious home had to forego and now living in smaller and more affordable homes.

Personally I would be most distraught without a roof over my head — if I retired or caught without a job in the subprime and credit crises!

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