Other than the fact that S’poreans have realised or discovered that HDB flats are 99-yr leases not freehold (They read what they agreed to buy? Exposed: Flaws in PM’s HDB spin) the other major headache for the PAP govt in public housing is that housing (private or public) seems to be more about psychological rather than material needs.
In the US and UK
Our space expectations are conditioned not only by where we have lived before, but also by our neighbours.
Because house size is a status symbol, we feel worse off when other people get larger houses.
A recent US study found that an increase in the size of the largest 10% of “superstar” houses had a significant negative effect on their neighbours, even if those people had also moved to bigger homes.
Previous surveys have suggested people would be prepared to have less living space overall if it meant they had more than others.
Given that more than 80% of Singapore’s population live in HDB flats, no wonder the PAP govt now wants to kick the expiring lease issue into the really long grass.
Exposed: Flaws in PM’s HDB spin
Smell the smoke? From Indonesia or from the PAP & cybernuts?
Thoughts of a Cynical Investor 
PAPies are still in danger of losing parliament majority by the late-2020s when plebs realise VERS is gonna return peanuts on the dollar for their HDBs.
By then, PAPies will likely roll out VERS+ which allows 40- or 50-year old HDB precincts to be enbloc to private developers, instead of waiting for HDB to buy back 70+ yr old flats.
The fact that Larry mentioned allowing private developers to take part in VERS indicate the PAPies are concerned that govt won’t have sufficient money to even pay for all 70+ yr old flats & redevelop them. Or likely PAPies are already thinking of cashing in on older HDBs in prime locations. Which is an oxymoronic contradiction to their stated aim of recycling land for affordable housing.
The lease arent an issue so long the prices are cheap and theres no discrimination.