Finally DPM lets the cat out. Khaw seems trying to crawl back a little. Let's do reality check later.
Jialat... cost of living inflation... not productive and must deflate overvalued assets...
Yr worries are my worries too - ESM Goh...
GG
http://www.businesstimes.com.sg/real-est...-there-yet
Tharman: Home prices correction not there yet
By
Jamie Lee leejamie@sph.com.sg@JamieLeeBT
BT_20141029_JLPROP29_1341132.jpg "If we do not get a meaningful reversal after each upswing, property prices will run ahead of the growth of household incomes over the long term, which we should avoid." - DPM Tharman Shanmugaratnam
29 Oct5:50 AM
Singapore
PROPERTY prices in Singapore have not seen a "meaningful correction" yet, said Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam on Tuesday.
"We have seen some correction in both private property prices and HDB resale prices over the last 4-5 quarters, but
He meant business ? He really want to deflate asset value with CMs intentionally ?
One minister used to enlighten the people "If price of property goes down is as good as raiding the reserve " ?
(29-10-2014, 12:54 PM)cfa Wrote: [ -> ]He meant business ? He really want to deflate asset value with CMs intentionally ?
One minister used to enlighten the people "If price of property goes down is as good as raiding the reserve " ?
Is that guy a ex-minister now? Hahaha
(29-10-2014, 01:04 PM)opmi Wrote: [ -> ] (29-10-2014, 12:54 PM)cfa Wrote: [ -> ]He meant business ? He really want to deflate asset value with CMs intentionally ?
One minister used to enlighten the people "If price of property goes down is as good as raiding the reserve " ?
Is that guy a ex-minister now? Hahaha
Not too sure and don't remember his name.
But many know him because he was special and doesn't like to talk through his mouth .
If you sell below market price is raiding the reserve. Property price comes down is not.
I agree with Tharman and many of us had said in previous threads that developers Ka-ching when market rise and people groan should not KPKB so soon when market corrects
As per our previous discussions, commercially property purchase is like "prepaid expense". Value of this prepaid expense goes up because cost of living, and demand ie population growth, has gone up. End of the day we have to keep this factor of production relatively low to improve our competitiveness. That's why SGD strengthening is losing the mojo as cost drivers are not from imports, but from asset inflation. Now we have to go through the adjustment.
Good thing for us and in many asian countries is that govts were the ones that came in to clamp down on the asset prices, so the adjustment is painful but manageable. Those who dogmatically believe in "free market" will have to experience Spain or Ireland, when markets force your hand to react. UK and Australia would be interesting real-time case studies for those who have never seen it before. Nothing new under the sun.
He told people like KLB and other property developers don't bother to sing the same song again and again.
(29-10-2014, 04:24 PM)cfa Wrote: [ -> ]He told people like KLB and other property developers don't bother to sing the same song again and again.
because they already discussed internally and decisions already been made...
Plan A had been rolling out this month and plan B already set and pending trigger point.
Love Compassion
I never disagree with him. What i don't like is that they never admit their mistakes... they never listen to the grounds that something is not right and they kept pegging HDB prices to that of market to make more $.
Hence my point has always been - they created the problems, problems got out of control due to hot $ flows that has historically been Singapore's history - being SE Asia financial centre and now they are playing god to solve the problems.
Anyway, its not just them, all politicians in the world are the same. Hence we can only pre-empt them and act in out best interests.
https://www.goodreads.com/work/quotes/26...-godfather
“I don't trust society to protect us, I have no intention of placing my fate in the hands of men whose only qualification is that they managed to con a block of people to vote for them.”
― Mario Puzo, The Godfather
In Godfathers I Trust
GG
(29-10-2014, 02:00 PM)specuvestor Wrote: [ -> ]I agree with Tharman and many of us had said in previous threads that developers Ka-ching when market rise and people groan should not KPKB so soon when market corrects
As per our previous discussions, commercially property purchase is like "prepaid expense". Value of this prepaid expense goes up because cost of living, and demand ie population growth, has gone up. End of the day we have to keep this factor of production relatively low to improve our competitiveness. That's why SGD strengthening is losing the mojo as cost drivers are not from imports, but from asset inflation. Now we have to go through the adjustment.
Good thing for us and in many asian countries is that govts were the ones that came in to clamp down on the asset prices, so the adjustment is painful but manageable. Those who dogmatically believe in "free market" will have to experience Spain or Ireland, when markets force your hand to react. UK and Australia would be interesting real-time case studies for those who have never seen it before. Nothing new under the sun.