I dont even know why me and Zhang would bother to respond to an idiot like you, I may sound uncivilised here but I dont need to think too much when talking to idiots. You probably have both foot stuck so deep in properties that you would go bankrupt tomorrow if the property market crashes today. And I hope you do.
On grounds of sympathy I try to enlighten you a little here:
(1) Resale prices shot up in recent years because of demand and supply imbalance; this is solely the government's fault. They let in too many new immigants within a short period of time and build too little new flats to cater to new family formations. So you have these 2 groups of people driving resale flats demand and jacking up prices. This is market driven...flat owners did not deliberately jack up resale flat prices. The fact that they make fat profits is a consequence of market forces.
(2) The solution is to build more new flats to meet demand at cheaper prices (we all know new flats today are grossly overpriced by factoring in vaguely calculated land costs). At the same time,
HDB flats should be sold back to
HDB only at cost plus inflation. It should not be sold in the open market.
HDB would sell flats directly to new PR. This would definitely tame the demand and prices for
HDB resale flats, and all the rubbish speculation now happening
(3) If you want to upgrade to condominium, then start saving up for it the old fashioned way. Dont count on flipping the
HDB flat for fat profits to upgrade
(4) Property developers would have no choice but to lower prices. There is no way
HDB upgraders can stomach the current condo selling prices if they cant flip their
HDB flats for fat profits. And this should be the way. If developers start making huge losses and go bust, so be it. They go into this game with their eyes wide open.
(5) The same thing goes for property investors. If you cant stomach falling prices, it is your own fault for being overly optimistic and bullish and not using your brains. Only a painful lesson would wake you up!