HK Prop Mkt

[greengiraffe]

I agreed fully with you on regulations on ownership on property.

However, the regulation on local properties only came years after the outcry over lack of regulation that resulted in asset inflation that followed on years of ignorance.

Of course, the steps came about after Mah "stood down" and ease off into the background. The typical type of accountability that Singapore is famous of.

By then of course, IMHO, Singaporeans will start to pay for the high asset costs like what happened post AFC in 97 - 8 long years until IR proposals were floated in 05.

By then I thought policy makers would have learn a good lesson on the ill-effects of asset bubbles but of course 9 years in hindsight, music just goes on and on...

No Vested Interests
GG

People often see properties as a number game and forget it is a necessity, and it will impact lifes for years to come if not an entire generation. That's why residentials should be highly regulated, including restriction for foreign buying like what Singapore has done. It's not just simple investment gain or loss.

"Ms Wong remembered visiting a foreclosed apartment in 2003 where the family's belongings had been left behind. Children's backpacks were still on the table, their homework half finished, she recalled. In another room, she spotted gambling tickets.

"It was a shocking, shocking experience," she said. "You could see all that struggle of a family right before they were taken away."