Several years back there was a property boom in Johore. The developers built and built, huge estates of landed properties for sale at a fraction of the price in Singapore. See also salivate. Many Singaporeans went in to buy and buy. Then the citizens complained. Singaporeans buying up everything and pushing up the cost of living.
Suddenly new regulations came out on ownership and stamp duties. The property boom collapsed as Singaporeans could not buy anymore. Property developers also went kaput.
Familiar story that is being repeated here. Why let the situation gets so bad before doing something drastic?