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2/14/2011

What did Mah Bow Tan say in Parliament?

Singapore Minister: Will Take Further Measures On Property If Necessary SINGAPORE -(Dow Jones)- Singapore Minister for National Development Mah Bow Tan Monday said the government is closely monitoring the property market and will take further steps to keep property prices at sustainable levels if needed…. "It is not the intention of the latest measures to crash the (property) market... but rather to cool the market," Mah said in response to a question in Parliament…. The above is quoted from Dow Jones. What is Mah Bow Tan trying to say? The current property prices are reasonable and sustainable. It also means that the prices can still go up and he is quite comfortable with it. There is no intent to bring the prices down and there is still no bubble yet. When there is a bubble, when the prices are unsustainable, more measures will be introduced. When or at what kind of prices will be enough to bring in new measures? What is not said is that for a $400k property, if the price goes up by 10% or $40k, the young people waiting to buy will effectively receive a pay cut of $40k. How many young people can tahan such a pay cut when their pay rise is normally $200 to $400 or $3k to $5k annually? And if the current prices are sustainable and no cause for alarm or stopping it to climb further, the young couples are as good as chasing a rainbow that only gets further away by the days. Salary increases, $4k pa, housing price up by $40k pa. Sure die one.

4 comments:

Anonymous said...

'To cool the market for election' would be a more appropriate answer. Then turn on the heat and expand the bubble again after the election is over.

I never for a moment believe that there is a ceiling to define affordability or reasonableness in their minds. More likely they are thinking of how much they can squeeze out from Singaporeans in order not to suffocate them to death, and in the process forced them to work to as old an age as possible.

When people work they do not have time to bother the Government financially, and provide employers with manpower to sustain economic growth. It is really killing two birds with one stone.

That is a direction that will never change. Not ever, as long as they are in power.

Anonymous said...

What did MBT said?

AFFORDABLE AFFORDABLE AFFORDABLE AFFORDABLE AFFORDABLE AFFORDABLE
AFFORDABLE AFFORDABLE AFFORDABLE
AFFORDABLE AFFORDABLE AFFORDABLE
AFFORDABLE AFFORDABLE AFFORDABLE

ME BUAY TAHAN

Anonymous said...

Latest information.
Minister Mah Bow Tan will stand for election in Tampines for the coming election.
Witness for yourself how he will overwhelm his opponents.

Chua Chin Leng aka redbean said...

I think he will overwhelm his opponents. 80% or all HDB flat owners would support him as he is the only one who could keep their HDB prices high.

Voting an opposition will see property prices crashing down.

He sure win one.