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Old 03-11-2012, 10:08 PM
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Quote:
Originally Posted by Wiseman1 View Post
What is the problem with making house buyers pay 100% cash for their 2nd or 3rd properties?? In other countries, it is unheard of for people to be holding so multiple mortgages all at the same time. It is basically courting the financial grave.

In fact, that is the only way to tame the current irrational demand for properties which contributed to the ever spiralling prices. If you cant afford to pay cash for investment properties, then you should not be buying in the first place. Dont pretend to be rich when you are not!!
Not point shouting.

I agree that this is prudent policy. All I'm saying is that this will NEVER happen because it will crash the market, and the govt does not want to do that - they want a soft landing not a crash.

You crash the market and your banks get in trouble and your citizens are not happy. You basically create the very problem which you are trying to avoid (a crash).

... and who's claiming to be rich ? I live in a 4 rm hdb, still paying my mortgage.

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