Let me qualify. It is good for some but bad for others. For those who have bought a 5 rm flat for $27,500 and now worth half a million, great, but not so great. The half a million is worth much less today. Half a million could buy 10 freehold semi Ds then. It can only buy a 5 rm flat on 99 year lease. And it is good only for those with no children. For those with one child, ok, if they can pass down to him/her. But maybe not as they will need to liquidate the property for their retirements.

Then those with 2 kids, 4 kids, 6 kids, die, sure die. These poor buggers would have to pay through their noses to buy even a 2 or 3 rm flat. A $3k combined income could just afford that. And a forum writer today appealed to the HDB to let other occupants to help to pay for the highly price flats from their CPF. This stupid bugger even thanked the HDB and would be very grateful if more people can be allowed to pay for the miserable flat. It used to be one income and 15 years to pay up. Now 2 incomes and 30 years still not enough. Needs more heads to pay.

Oh, high HDB prices also good for the private property owners. They can upgrade and pay for the more expensive private properties and help to keep the prices high.

So, is high HDB prices daft? Depends on while side of the blade you are cut.