Developers, govt agree to disagree

[VIChris]

There are many ways to control the markets and to avoid bubbles.

The relevant authorities still refuse to lower down the land sale price and also the new HDB prices. I see it as one of the most effective solution to solve sky high prices.

However, the government think likewise. They still wanted to make lots of money from the market.... good luck to us and especially the future generations....

Bring down land sale price will cause many HDB and private properties' owners to go into negative equity.
While the government should ensure that the price will not go up continuously without increase in wages, it must also ensure that the current property owners are not too badly affected. And many of these owners are not speculators.

The key is majority of the home owners stay in their ONE and ONLY house/flat. If the prices move up, they don't really benefit from it unless they are selling and moving out of S'pore for good.

Gradually appreciation may be good, but not rapid appreciation.

Main disadvantages like (but not limited to):
1. Rental will move up due to high asset cost (government is the biggest landlord in S'pore)-> Higher business cost which will pass the cost back to consumer.

2. Higher property tax.

3. Beyond the reach of masses. Nowadays majority of the young coupes need to take 30 years of loan. What happen if either one or both become jobless? Will there be many bad loans in future if economy turn for the bad?

4. By the time you retire, your cpf might be penniless or minimize amount left. You can't take the amount out, so what the purpose of promoting cpf for retirement?

There are so many social impacts on the livelihood for the masses, which the authority might "neglect" while they are chasing after short term gains.

The truth is, the biggest winner of all is the authority and the majority is there for them to milk us.

My 2 cents