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10/16/2012

Home sales soar! See it coming?



When I read the papers today about the climbing sales of properties, private and public, and the rising prices, I thought of asking whether the govt has seen it coming? I can’t blame Boon Wan as he is still new on the job. The pent up demand is not just due to the Ghosts in the seventh moon. The demand has been brewing and kept under pressurized lid to prevent it from exploding for too long. All the ramping up of building public housing would still be not enough.

Then I read another headline, ‘Govt ready to stabilize market if needed: Khaw’. Read this carefully, between the lines, it would appear that the govt is pretty comfortable with what is happening, with the situation as it is now. Apparently there is no need to stabilize the market now and not needed. So things will just go on as it is.

Boon Wan also said that the market should be stabilizing. This means that once the market stabilized, the people should expect that this is the normal state of affair, the high prices are normal though demand could be lowered if not because of this new doctrine that the govt has to build homes for the singles as well.

So that’s it. The govt saw it coming and this is what it is to be, acceptable, bearable, sustainable....and definitely affordable!

15 comments:

Anonymous said...

rb
You mean to tell us you still don't know that the business of the PAP govt is the management of the property market?

Didn't limpeh tell us not to sell our HDB flats?

Anonymous said...

Mr Chua, you are still saying Khaw is new to this business and has no part to blame???

See his last statement on the affordability of property. Read it another way and it says that as long as demand is there, properties are affordable?

Lewd logic

patriot said...

Beware of sweet talks
and
be more beware of double
speak by pious folks.

patriot

tkw said...


RB....in your last sentence, you omitted the word...Affordable.

Anonymous said...

You see, each time when the National Development Minister comes out to say that he has measures ready to cool the market should it be unstable, people see it as another cue that prices are going up further and they buy.

Indirectly, the Minister is pushing up prices with his hints, which in effect means that no action will be taken and prices will continue to rise.

With all the half measures, he might be better to STFU instead of opening his big gap and escalate the problem.

Anonymous said...

Why should Khaw Boon Wan be concerned with high property prices which will push up GDP, and beneficial to all the Ministers who will get "Big Fat Bonuses". The higher the better!!!

Veritas said...

The sinitic culture is addicted to rent seeking from property. If PAP cannot find revenue from property, it will implement other measures.

In PRC, the city government who are not able to sell property due to slower urbanization are now resorting to planing to implement property tax.

The fairer way is to tax 15% of income, capital gain supplemented by wealth tax, estate tax. PAP wont do it as it hits the rich.

Chua Chin Leng aka redbean said...

tkw, you are right. Amended.

Anonymous said...

If you take away revenue from propety tax in GDP calculation, I bet ministers will be quick to find an effective cooling solution. Since GDP includes income from property, where is the motivation? Bonus for civil servants is tied to GDP growth lah.

Anonymous said...

Beware of False prophets.

Beware of people saying they are here to save you, and to follow him.

Anonymous said...

Some of the Folks in the Cabinet have big but faulty hearts. Had those hearts not supported by artificial devices, they would have gone.
Do artificially hearts have conscience?
What about military personnels? Do they have humanities? Or are they more like fighting hardwares?

Anonymous said...

'fighting hardwares', no.

They are just weapons to be used
against You!

You! Yes! You!

Anonymous said...

The PAP pipe piper is leading us to oblivion.

Anonymous said...

First they put a horse in charge of National Development. Now, does a horse have a conscience?

Then they put a cow in charge of National Development. Now, does a cow have a conscience?

Folks, do you believe that four legs is better than two?

Anonymous said...

When the old and sickly are ruinning the live(life) of the people, no matter whether these folks are two or four legged, the society is in big trouble. For even if they have conscience, their conscience are likely as sickly and erratic as their bodies and souls.