Buy to profit versus buy to stay
The speculators, investors and developers are happy that property prices are up. And with limited land, the formula in investing in properties here is a sure win formula. Foreigners and swarming into our shores to swipe up whatever they can get with clean money and money to be cleaned. It is a happy story. Speculators and developers are in the property business to make money. Our citizens buy properties to stay, with a few exceptions in the speculator category. The respectable word is investors. Who do the speculators and developers made their money from? Of course from those who need to buy a roof over their heads. In the end, the people who needed a place to stay, a home here, will have to pay double, triple or quadruple for a roof over their heads. And this is good. Our residents paid through their noses for something that cost so little but to enrich the speculators and foreign investors. Who ends up the winner and who the suckers? And some jokers said don’t worry, when the demand is high, they will build more to manage the bubble. With our limited supply of land against an unlimited supply of money from abroad, who is going to call the shot? Oh, don’t worry, we can build many Towers of Babel. I don’t know whether the guy up there has anything to say about this.