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Thread: Keep property curbs for a healthy economy

  1. #1
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    Default Keep property curbs for a healthy economy

    http://www.straitstimes.com/forum/le...ealthy-economy

    Keep property curbs for a healthy economy

    Sep 25, 2015


    As a young person, I am not in favour of calls to do away with real estate curbs ("'Property cooling measures to stay'"; last Friday, and "Is it time to lift property curbs?"; Wednesday).

    The middle-aged segment of the population is one group that appears to seek an endless increase in property prices. This is a selfish attitude because over time, young people, with relatively low incomes, are simply priced out of the property market.

    Young people are increasingly reliant on their families for financial support when purchasing property, whether this means not paying rent when living with their families or in terms of direct financial support.

    Ever-increasing property prices reduce social mobility by making a child's financial status far too dependent on his parents' wealth.

    Even with current curbs, prices are still largely unaffordable.

    As property prices rise, they tend to encourage more people to enter the real estate market as speculators and/or agents.

    However, this is unhealthy for the economy.

    A strong real estate market does little but increase inflation. It cannot be exported, and cannot be consumed by the majority of the population, nor does it save lives, further knowledge, improve communications, increase productivity or increase overall happiness. What it does do is concentrate wealth in fewer and fewer people's hands. It also reduces social mobility, and encourages speculative behaviour and irresponsible lending.

    Real estate companies may wish for the cooling measures to be removed because they stand to benefit from it. But from a national perspective, why should we encourage unproductive and speculative behaviour?

    Homes should first provide shelter and then, if possible, a source of passive income for retirement. They should not be a means for people to get rich easily.

    Sum Siew Kee

  2. #2
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    Stop your greedy behaviour, you middle aged fellas!
    The three laws of Kelonguni:

    Where there is kelong, there is guni.
    No kelong no guni.
    More kelong = more guni.

  3. #3
    teddybear's Avatar
    teddybear is offline Global recession is coming....
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    Is he referring to HDB BTO flats or private properties or resale HDB flats?

    As a young person, he is already guaranteed a HDB BTO flat which has been very cheap now for so many years, courtesy of the cheap land.
    Private properties nor resale HDB flat prices are really none of his concern as he is not affected.

    If he is referring to the property curb which is only targeted at the private properties (since he mentioned about real estate companies which are only involved in private properties sales), then we have to ask whether is it the government's job to ensure that the young ones are able to afford a private property and in the process distorting the private property market (and make it a non-free market)? If government should do so, might as well ask to keep a Bungalow's price at $1M forever?



    Quote Originally Posted by reporter2 View Post
    http://www.straitstimes.com/forum/le...ealthy-economy

    Keep property curbs for a healthy economy

    Sep 25, 2015


    As a young person, I am not in favour of calls to do away with real estate curbs ("'Property cooling measures to stay'"; last Friday, and "Is it time to lift property curbs?"; Wednesday).

    The middle-aged segment of the population is one group that appears to seek an endless increase in property prices. This is a selfish attitude because over time, young people, with relatively low incomes, are simply priced out of the property market.

    Young people are increasingly reliant on their families for financial support when purchasing property, whether this means not paying rent when living with their families or in terms of direct financial support.

    Ever-increasing property prices reduce social mobility by making a child's financial status far too dependent on his parents' wealth.

    Even with current curbs, prices are still largely unaffordable.

    As property prices rise, they tend to encourage more people to enter the real estate market as speculators and/or agents.

    However, this is unhealthy for the economy.

    A strong real estate market does little but increase inflation. It cannot be exported, and cannot be consumed by the majority of the population, nor does it save lives, further knowledge, improve communications, increase productivity or increase overall happiness. What it does do is concentrate wealth in fewer and fewer people's hands. It also reduces social mobility, and encourages speculative behaviour and irresponsible lending.

    Real estate companies may wish for the cooling measures to be removed because they stand to benefit from it. But from a national perspective, why should we encourage unproductive and speculative behaviour?

    Homes should first provide shelter and then, if possible, a source of passive income for retirement. They should not be a means for people to get rich easily.

    Sum Siew Kee

  4. #4
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    so funny!

  5. #5
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    You are revealing your age bro.

    Down with the middle agers!

    Hehe...

    Quote Originally Posted by teddybear View Post
    Is he referring to HDB BTO flats or private properties or resale HDB flats?

    As a young person, he is already guaranteed a HDB BTO flat which has been very cheap now for so many years, courtesy of the cheap land.
    Private properties nor resale HDB flat prices are really none of his concern as he is not affected.

    If he is referring to the property curb which is only targeted at the private properties (since he mentioned about real estate companies which are only involved in private properties sales), then we have to ask whether is it the government's job to ensure that the young ones are able to afford a private property and in the process distorting the private property market (and make it a non-free market)? If government should do so, might as well ask to keep a Bungalow's price at $1M forever?
    The three laws of Kelonguni:

    Where there is kelong, there is guni.
    No kelong no guni.
    More kelong = more guni.

  6. #6
    teddybear's Avatar
    teddybear is offline Global recession is coming....
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    Actually, you need to correct your words:

    "Stop your greedy behaviour, you YOUNG fellas!"!

    The young felllas want private properties CHEAP CHEAP say so lah, don't beat around the bush and talk until so noble like keep economy healthy..........
    Time to cap Bungalows at $1 Millions forever!!!!!!!!!!!!!!!

    Actually, there is another saying:
    Have to keep basic assets like properties expensive then the young fellas will work hard and have sense of belongings and ownership! Ha ha ha!

    Quote Originally Posted by Kelonguni View Post
    You are revealing your age bro.

    Down with the middle agers!

    Hehe...
    Quote Originally Posted by Kelonguni View Post
    Stop your greedy behaviour, you middle aged fellas!

  7. #7
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    Singapore property price did not increase, Singapore Dollar money depreciate too fast.

    To make matters worse, when the pound devalued without
    warning on 18 November 1967, Singapore lost S$157
    million or 14.4% of its reserves overnight.

    http://www.clc.gov.sg/documents/uss/...ing_a_city.pdf

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