Housing, half hearted or half baked measures won’t work
Frankly, I am not too sure whether the measures to cool down property prices were half hearted or half baked measures. They have proven not to work, or they could be intended to work this way. Don’t expect me or any bloggers to know the whole story. We are blogging on superficial understanding of what was going on and at most we are just skimming the surface of a very complex problem, but not unsolvable if the will is there.
Bloggers are not paid to spend all their time and resources to understand the problem and to come out with good solutions. This should be the duty of the professionals who are paid millions and full time on the job to solve the problem. If they cannot to anything right, they should not be there and should not be paid the big salaries. Is this a difficult logic to understand?
The people on the job are professionals and must have a good grasp of the situation and the extent of the problem. It is very disheartening to hear professionals saying that the housing problem is due to one or two factors, a supply problem, or BTO and resale market are separate issues. Some even think that it is okay for foreigners to continue to grab anything available in the market.
Everything in the market affects the market. Everything is linked to the housing price that is ballooning, not just supply and demand, not just a matter of private properties and public housing. Even the scrapping of estate duties is a major factor that influenced the price of properties.
I am not here to give a solution. I am not paid to do it. The public demands that those that are handsomely paid to do their job, starting with a correct policy or mission statement from the govt on what it thinks is its role in providing housing for the people, and what kind of housing and affordability. Everything must gel together for a comprehensive solution and not piece meal. It is obvious that the people are getting very angry with the housing situation.
Can the govt get it right? If they can’t, learn from Malaysia and China. These two countries are serious in wanting to curb property prices and have their priorities right. Housing, a roof over the head at a really ‘affordable’ price is what they are trying to achieve. Even Hongkong is getting serious while we are getting reckless. They are less concerned with the profits of developers and those rich who are hoarding properties to get a good profit for their investments. And in Singapore’s case, with the high density and the squeeze on limited land, the concept of investment in properties and property speculation, foreign ownership, estate duties, must be thoroughly reviewed.
There are many vested interests at stake. What is more important?