Imagine how good things could have been…without Boon Wan
A total of 27,000 units of BTO flats launched, just building, in 2012 and maybe another 20,000 to be launched in 2013, and the headline in Today paper, ‘Prices to climb despite more HDB flats launched’. And this is after the spate of news of prices shooting to new record highs and after all the fine tuning to prevent it from going through the roof.
On the opposite of the supply side, the demand side was also fine tuned to slow the influx of foreigners a wee bit. And Boon Wan has been telling the people not to worry, the price will be stabilized. Then some were saying that HDB flat owners should not sell as the prices would only go up and up. The resale market is responding as it is, up and up.
Imagine, if the BTO programme was not ramped up, the influx of foreigners was not slowed down, Boon Wan did not come in to fine tune the housing policies, prices would have easily doubled and more millionaires would have been made. 3 rm and 4 rm resale flats would been fetching a million each by now.
Imagine how many more millionaires would there be in Sin City? Half the population of Sinkies would be millionaires by now. Boon Wan should not have put his fingers into such a good thing that is happening in Sin. Now many Sinkie dreams of becoming millionaires by not selling their HDB flats, by not working and just sitting on their HDB flats would have been doomed. And without this asset inflation, how are they going to pay for the world class medical bills and to buy a new car or to retire rich?
Things could have been so much better, Sinkie so much richer, if only Mah Bow Tan remains as the Housing Minister. Many Sinkies must be regretting for missing the golden opportunities and becoming millionaires. In the next GE they will be demonstrating for the return of Mah Bow Tan to continue with his housing policies that made Sinkies instant millionaires.
Now Sinkies have to live with only moderate increases in the value of their properties, but still a consolation as the prices will be up and up but on a slower pace, like doubling every 20 years instead of 10 years.
Boon Wan, look at what you have done to bust the happy dreams of Sinkies? Boon Wan should not have ramped up the BTO programme, then everyone will be shouting, ‘Huat ah, huat ah.’
You can't please everyone. Some like high prices, some like low prices. Some will love Mah Bow Tan and some will love Boon Wan.