Hot Money

Money creation.
This is a debt relationship, the poor guy owes money for the house, but that money is realised by HDB as sales, so HDB would receive it in their books.
But the real money doesnt comes in until the guy works and contributes CPF which he use to pay his mortgage.
Anyway, both CPF and HDB have reserves which they can invest in SWF, which makes me think, how solid is the SWF in terms of real money? Its not that solid.

The inflated hot money is base on the premise that HDB flats are of a certain value, 3 room flat sell for $180,000 first hand, loan by Mr A. So the real money in his CPF is $180k to HDB.
SWF if given $180k by CPF, and $180k by HDB to invest, its from 2 entities to SWF $360k.
What do you do when SWF needs more money than what is already illustrated? Inflate HDB prices, so that the flat owners fork out more of his CPF, resale 3 rm flat $500k.
Now CPF have $500k to SWF and HDB have $500k to SWF, and SWF have $1million to invest.

Kapish?
Even if economy collapse, flat prices falls to $150k, do you think they will let you off? You still owe $500k ok. You sign the contract, you pay with CPF or cash for $500k flat, that's it. Debt relationship, you sign away your life slaving for some gambling action.