I REFER to reports that fewer homes are worth less than their outstanding housing loans as home prices rise.

Four years ago, about 13.7 per cent of owners with home loans were in negative equity but that has now fallen to 2.5 per cent, according to the Monetary Authority of Singapore.

In addition to negative equity statistics, I would like to suggest that statistics on foreclosures and loan delinquencies be published regularly too.

For example, according to the last published statistics, the Housing and Development Board provided financial assistance to more than 28,000 HDB households (2005 HDB Annual Report), 7 per cent of HDB bank loans were in arrears over three months (March 2007 Parliamentary Report), and about 2.04 per cent of private property loans were in delinquency over one month (Consumer Credit Bureau report, June 2007).

With negative equity at an all-time low as well as rising home prices and rentals, it may be a boost to our morale and
confidence if statistics can show us that there are now fewer homes with problems paying for housing loans than the estimated 40,000 (over 28,000 HDB loans, over 6,000 HDB bank loans, and 5,448 private property loans).

Mr Leong Sze Hian