Good news, property prices up
There must be a lot of cheering and happiness going around for all the property owners, including HDB flat owners. Then there are cries from analysts and property trading firms that the red light is on. It is alarming that the price is running to the pre crisis level of 1996. They are calling for the govt to take appropriate measures to curb the exuberance. When the crisis hit in the late 1990s, harsh measures were taken to curb property speculations. So far nothing much was done except some cautionary words. Maybe we need the bubble to burst before something harsh will be introduced. In the meantime all the rich property owners are laughing to the bank. Their money and assets growing in leaps and bounds. For those who are genuinely looking for a home, sorry mate, your money value has just gone down by 7.9% if you are looking at the private property market and 2.9% in HDB resale market. Yes, your money is getting smaller. Not forgetting that practically everything is going up. Are the people really benefitting from all these price hikes and property boom? Some obviously are. The en bloc owners will be very happy too. Who is the last to laugh?