Bad News!!! Bad News!!!
Property prices could possibly crash after the next general election!!!
The Straits Times - 27 Jan 2010
Mr Lee's blunt remarks were in response to a question by dialogue moderator Tommy Koh, who pulled out a Straits Times report which said
at least three opposition parties are keen to contest Tampines GRC that Mr Mah helms. -- ST PHOTO: LAU FOOK KONG
THE current contentious issue on the affordability of public housing was given another airing by Minister Mentor Lee Kuan Yew who cautioned Singaporeans not to cast a protest vote against the ruling party over this.
As Singaporeans lament about rising flat prices, he said they ought to understand the Government sells them at a subsidised price, below market rate, so that they can own
an asset that will appreciate in value over the years. It adds to their wealth and this is asset-enhancing policy Mr Lee believes citizens should not find fault with.
If they do, they must be 'daft', he said at a dialogue during a housing conference as part of a series of events to mark the Housing Board's (HDB) 50th anniversary.
"And if National Development Minister Mah Bow Tan is unable to defend this policy, 'he deserves to lose' at the next General Election, he quipped to laughter from the participants, including a chuckling Mr Mah.
But
if Mr Mah loses to the opposition, he warned that Singaporeans better
sell their flats fast as it would
no longer be of any value.
WOW ... looks like our Great Religiion - Propertism - which believes that property prices will always rise in the long term, is under threat tonight!!!
First, we have terrace houses with prices that decrease, rather than increase, with time!!!
Now, we have MM warning that HDB flats could be
no longer be of any value.
If HDB flats become
no longer be of any value, what will happen to private properties?
Should I betray my own Propertism religious belief, that properties should only be bought but not sold, and sell off my entire portfolio of properties?
Should Reporter quickly sell his District 9 condo, which he'd just recently bought in Nov 2009?
Will Property_Owner, an old man with a weak heart who owns 40+ properties, suffer a heart attack?
All these lie in the hands of Tampines GRC.
Who here stays in Tampines GRC?