Singapore is forcing its citizens to purchase homes. I think it’s a good policy.
Maybe we can have a similar policy. We can start at Google, forcing all the emloyees who make than 100k to buy a home within 1 year of joining the company. Non-homeowners will be forced out of the company after a 6 month warning.
This will make Google emloyees financially stable and they may stay with the company for long time since it’s harder to sell the house and go work for Uber.
Don’t think so. There is a public housing scheme, HDB, that sell heavily subsidized 99-year leasehold apartments to singles over 35, newly weds and upgraders (allow to buy subsidized houses twice).
82-89% of the Singaporeans live in these HDB public housing. It’s essentially a mandatory homeownership program.
We need less govnernment regulation not more. Home prices would get truly insane.
A less restrictive policy will be to force all new employees to take a personal finance and home ownership class. It’s a mandatory education, not a mandate home purchase.
Google could add a homeownership class to its Bootcamp and that could become the best benefit.
Only about 80% stay in HDB. Reason why Singaporeans are clamoring for HDB is because it is a 100% sure way to make a few hundred thousands dollars in five years… sell the first one and upgrade to another one. Then stay in the subsidized HDB (not only house is cheap, utilities rates are cheap too, everything in HDB estate is cheap) and buy private condos for rental. Easy money.
Singapore has the highest density of millionaires 
. One of the reason is almost anyone can make a few hundred thousands from selling HDB after five years, and reinvest the proceeds in other investments or a private condo.