The housing predicament - What we do not know
One thing for sure, we do not know that we have limited land, that land is scarce. We do not know that we should not be selling our landed properties to foreigners, like selling Alaska, gone forever. We do not know that property speculation is bad, as a home is a must have essential asset, a roof over our heads. We do not know that prudence is good, or at least until yesterday. We also do not know that the laws of demand and supply can wreak havoc to our property market. We do not know that allowing private property owners to buy public housing will inflate property prices, and that is bad. We do not know that allowing more foreigners into the island will result in high demand for property prices and high speculation. And we also do not know who is the main cause of high property price. Maybe now we know, or do we?