Originally Posted by Unregistered

You have not been reading the papers recently, I believe. The Minister for National Development, Mr Khaw Boon Wan, just mentioned in Parliament as recent as 2 weeks ago, that he has no plans to rein in foreign demand for private property, as we need to be mindful of the "serious economic and social consequences".

I can even pull out the media reports for you, if you need....

The bottom line: The PAP government realizes very late that it has gone far down the wrong road of no return in the housing policy arena, and the only way forward is to continue to prop up stubbornly high private property price levels by accomodating and even encouraging foreign demand. The costs of not doing so are horrendous, as thousands of Singaporean households would find themselves in negative equities over-night, having made their dream house purchases at sky high prices.

But this also means successive generations of Singaporeans would need to pay higher and higher prices to realize their "private property' dreams.

Short of legally forbiding Singaporeans from purchasing private properties, there are really little policy tools left in its arsenal