I can tell you that:
NO, a big NO!
But
it has been like that all along since 1997 after Indonesia crisis!
Point by point holes-fixing:
[1] His personal opinion based on [2].
[2] This is a fact, but has been like that since 1997, and all the while we went through property market cycle boom and bust.
[3] His personal opinion as well, he hoping developers dump cheap cheap? No problem! Developers are instead dumping all their OCR condos at irresistable prices! Bedok Residences $1500 psf! Punggol $1400 psf! Bishan $1700 psf! Hooray!
[4] Yes, what do you expect when people introduce 10% ABSD to biase against them? And along with them also their money, investment, business, jobs created all don't come to Singapore?