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12/30/2007

Instant population! What does it mean?

We will be adding another 15,000 new citizens to our population by the time 2007 is over. And there is also another 40,000 or so PRs. This is on top of the average annual growth of about 30,000. With the 30,000 coming of age each year and the new residents, the demand for property is not going to slow down or decline. Singaporeans needing a flat or a roof, better get them fast. The demand is incessant. The locals, the real Singaporeans, may be not be able to afford the unstoppable price hike if their salaries do not experienced the 21% increment. But for the new citizens and residents, only those who are able will come. They will sustain the continuous hike in property prices by adding into the demand pressure. The price hike is not going to stop the flow. At every higher price, there will be new takers. Singaporeans, especially those that are struggling to make ends meet, just too bad. No amount of charity or handouts can keep pace with the whopping increases in property pices. If they can't, they can't, and would eventually have to squeeze as many as they can into their 2 or 3 room flats. The alternative is HDB rental flats if they can qualify. The message is shape up or lose out. There is no room for failures and laggards or irresponsibly producing as many poorly educated children as possible. They will be damned. They will be the new breed of struggling poor at the bottom of a society that is running ahead at full steam. They can never hope to catch up.

5 comments:

Anonymous said...

there is truth to your concerns. but the authorities assured us of enough supply for everyone base on their current demographic projection. i believe they spoke the truth however, supplies are limited in mature estates. and even limited supply for the rich in the central districts - which has now become the stronghold of the rich.

it is unlikely prices will come down for central districts once it firm up unless jolted by severe and long term economic doldrum.

the limited supply will dictate the value of ample or sufficient supply

if the limited supply rises, will not the value of ample supply rise too?

having said that, there are already instruments in place to contain runaway prices such as the global market place?

lastly, i suppose the government will mitigate the burden of the poorer citizens through more housing subsidies.

Onlooker said...

Well considering the fact that they do not need to serve NS.Great and reservist too :)not to mention they are here to work but do you think that for a second they are allowed to form a political party for their own interest?remember the stop at two policy.What cause this situation.Well no accountability for nobody.

redbean said...

hi onlooker,

welcome to the blog. by now you should not that certain words and phrases are uniquely singaporeans and when people uttered them, singaporeans will laugh them off as jokes. subsidies is one of them. compasssion, concern about high cost of living, reducing cost, etc etc. when you hear these words or phrases, just have a good laugh.

redbean said...

as for forming political parties they will once they become citizens. and being new their interests hopefully are for singaporeans as a whole.

the population explosion is not by accident. we can build more housing. but our roads will not take it. hear the news over the weekend on transportation and transport policies? these are arteries and lifelines. choke them and we had it.

yes can build skyways. who can afford to drive on them. build hi tech tunnels. how much to pay to travel in them.

our grogginess in pushing for rapid growth in population will eventually cause our downfall.

Matilah_Singapura said...

> The message is shape up or lose out. <

Uh, no, that is incorrect. As long as the new people are productive and contribute, and earn from the economy, it will be better for everyone.

This is because the division of labour increases, and the capital structure in the country becomes more robust and grows.

Having a vibrant market economy means that the lowest on the socio-economic scale benefit THE MOST, despite a common belief to the opposite scenario.

Ask yourself a question: where would I prefer to be a beggar, if I had to: in cities like New York, Tokyo and Singapore, or destitute and dangerous territories like Somalia and Rwanda?

The reason is simple (although admittedly overly simplistic)-- the MASSIVE capital structures in modern, first world countries provide "buffer" to things like starvation, lack of clean water and energy, lack of good communications, health care etc.

Does it always come down to economics? As far as human survival and welfare goes, yes, it does.