Strong purchasing power needed for home ownership

I was in Singapore over the weekend and observed that Singaporeans are still mourning the recent loss of their founding father. No doubt the late Lee Kuan Yew was a great man but to erect a new monument in his honour is totally unnecessary. Every Housing Development Board (HDB) apartment in the city state can easily be his lingering and towering shadow. The imprint is so strong on the republic.

Having turned the third world country to a first world economy, his leadership has captured the admiration of the world, particularly at a time when Singapore was facing a severe housing shortage as a result of a low rate of construction and the massive damage it suffered due to World War II. The rate of homelessness was severe with a high average person per building density. Being an advocate of public housing, the late Lee acknowledged the urgency to house the nation and initiated the HDB .