Yesterday was Jessica Cheam I think. Today Esther Teo added another half page article in the ST on the rising property prices and how to protect Singaporeans from the speculators. Just ask a simple question, what is the main objective of these foreign speculators? To make profit. Period. And where does the profit come from? If they make profits, who is losing their money?
This is like inviting the big and sophisticated funds to play in our stock market with their high speed computers. They are here for one simple reason, profit. And the Singaporeans are paying for their profits.
So, what is the discussion all about? Jessica was suggesting more controls, cannot buy, cannot sell, with more regulations. Esther was trying to say it is ok and it is not ok for the speculators to buy our properties.
My position in protecting Singaporeans is fairly straight forward. Keep public housing to Singaporeans and build as many as long as there are Singaporeans who need the flats. No need to have all the cumbersome and ridiculous rules and regulations. The private property sector can be less regulated, to let those who have the money to speculate to their hearts content. But the primary aim of building for every Singaporean without all the silly restrictions must be observed and practiced. Also be careful about being Singaporeans as tomorrow all the foreigners can become Singaporeans. In fact all the screwed up statistics on citizens and foreigners buying properties are deceiving in this aspect. Quite a number are new citizens, which means foreigners yesterday.
On the other hand, just sell everything as I have suggested earlier. Sell the whole island for money and divide them among the Singaporeans. Then everyone will have all the money and can decide to stay or to go somewhere else. Everything that has a price can be sold. Everything is just a gambling chip. Forget about the angst about nationhood, loyalty, citizens first craps. Commercialise everything and put everything up for sale. The best!