Well property counters are off, HDB prices softening. Forget abt market finding their own level. It’s all abt govmin policies.
So waz this talk of market forces?
As Siew Kum Hong blogged a moon ago: By mixing up the public policy goals of providing affordable accommodation and helping citizens plan for their retirement, the Government has ended up achieving neither, with public housing becoming increasing unaffordable and many retirees being asset-rich and cash-poor.
The point that I ultimately want to make, is that the “leave it to the market” message is deceptive when the bearer of the message is able to manipulate the market. Markets do not exist in vacuums, but are instead influenced by government regulations and policies. So when the Government declines to intervene or to change the underlying rules, it is really a conscious political decision to maintain the status quo.
His totful rant in full http://siewkumhong.blogspot.com/2010/04/market-as-deus-ex-machina-or-scapegoat.html
“Forget abt market finding their own level. It’s all abt govmin policies”.
Exactly the reason why I don’t touch Singapore. Or China. Or Hong Kong.