Quote:
Originally Posted by Wiseman1
You are just one of the many stupid naive idiots here who dance to the tunes of whatever the PAP says....remember.....the PAP government played a large role in driving up the property prices to the ridiculous levels we are seeing today....with their stupid asset enhancement policies starting in the 1990s....making everyone asset rich but cash poor....they have realised long ago that this policy is not sustainable but is too far down the road of no return....what they can only do now is to say things which would prop up property prices as frequently as possible in public.....a drop in property prices which would trigger margin calls by banks on the huge loans taken up by sillyporeans is unthinkable.....but for how long???
Maybe on the day that happens they would have to use the reserves to bail out the banks facing sillyporeans who can no longer service their humongous debts....the alternative is for this place to sink..... |
- home ownership encourages people to stay put in Singapore. All that one-sided reporting about how unsafe and unstable it is in US and Europe, also encourages people to stay put in Singapore
- the government is profit driven. This explains the prices of public housing, and many other policies (limited safety net for the unemployed, etc)
- while our government has certainly done a lot of good to bring Singapore to where it is compared to 50 years ago, it always cares more about Singapore as a whole rather than the individual Singaporean. Hence, encouraging young singaporeans to be programmers in the 80s, then engineers in the 90s, then go into the biotech industry around 2000. While at the same time opening floodgates to foreigners and depressing the salaries/ increasing job competition for all the programmers and engineers, and most biotech graduates can't get a career in the field (unless they get a PhD, then they are not doomed to test tube washing).
Conclusion: heed the government at your own risk. They will say and do things to influence the Singaporean to do what is best, not for the individual, but for Singapore. The country is rich, prosperous, safe, runs efficiently. But the average Singaporean, how rich, secure in his job, and happy is he, can he survive the costs of a major illness, does he have enough cash for retirement?
If you are a earning >$2600 a month, you are earning more than an average Singaporean. If you have a second property and profited from the huge increases the past few years, u are certainly not an average Singaporean.
The average guy just wants to be able to buy
HDB at a decent price.