Singapore's public housing, envy of the world, hits rough patch

(Oct 26): Singapore’s long romance with public housing is going through a rocky patch, threatening to undermine one of the most popular government policies.

For decades, the no-frills, affordable apartments have been integral to the city-state’s way of life, helping young couples achieve their dreams of home ownership and housing the bulk of the population -- while providing a stepping stone for getting on the private-property ladder.

But now, with about 80% of Singaporeans invested in Housing & Development Board dwellings, these properties are losing value, widening the price discount to private condos. That’s a jolt to home owners and a political headache for a government that likes to boast its public housing is unmatched around the world.

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