Why? Simply because HDB is the mother provider of incomplete data.
A couple of days ago, Yahoo! News carried a report by PropertyGuru stating very plainly that “HDBs are more unaffordable than private homes”.
Basically, this PropertyGuru article said that HDB resale flats are ‘severely unaffordable’.
This result, which was attained after performing some sorcery and mathematics by analysts, is described as “arguably shocking”.
In defence and as a response, HDB issued a rebuttal stating, “PropertyGuru report is based on incomplete data: HDB”.
And you would have thought that with this rebuttal, HDB has come out openly with scores of data and a lot harrumphing to prove that they can provide the fuller picture with nothing but the truth, right?
And then you see this chart provided by HDB in the rebuttal:
Firstly, when on Earth did a chart with 6 rows and 9 columns become complete date? If HDB wants to debunk PropertyGuru with the “incomplete data” argument, shouldn’t HDB provide more complete data rather than having two play the same game?
Secondly, if you look at the arrow pointing to item 1, you’d giggle.
Because in your mind, this is what you’d think about HDB’s very own incomplete data:
Thirdly, look at the price circled and arrowed no. 2: $384,000 for a 5-room HDB flat.
Here’s what you should know.
Just this past week, on March 21, The Straits Times – who are the purveyors of A-star reporting and who embody the gold standard in journalism – ran a report about prominent labour economist and associate professor, Hui Weng Tat, who teaches at the Lee Kuan Yew School of Public Policy.
The report was about him cautioning in his study that those with diplomas or university degrees who enter the workforce in 2010 and estimated to earn approximately $2,500 monthly income and who go on to buy a five-room flat at $560,000, will end up piss poor and broke ass by the time they retire at age 65.
As you can see, by injecting a bit of realism into the proceedings, you have a labour economist, who is part of the establishment, who believes in his outlook that a five-room flat actually and realistically costs $560,000.
But that’s not the point.
All you have to remember from this episode is that the irony is completely lost on HDB.
By accusing others of basing their argument on “incomplete data”, they have done worse. Much worse.
They are, have been, and always will be the mother provider of incomplete data.
Therefore, HDB, you are a: