An honorable member of the Coffee Shop Has Just Posted the Following:
HDB spent $1.5 billion on ramping up housing supply
The Housing and Development Board (HDB) chalked up a net deficit of $797 million in the last financial year (FY2012/2013), which saw an 80% increase from $443 million the year before. This was calculated before a $1.04 billion government grant and taxation were factored in in the same financial year.
In its annual report released on 16 Oct 2013, HDB said the higher deficit stemmed from a larger deficit for its Home Ownership segment. The category encompasses the development and sale of flats to eligible buyers under the various home ownership schemes for public housing.
=> When it comes to propaganda, Sinkees are told they 'own' their 99-year pigeonholes. When it comes their rights over them, they are told they are only 'lessees'. Only the 60% dumbos will accept such B.S.
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11-01-2014, 12:10 AM
HDB "Lost" $800M in 2013 Woh!
