[quote]Originally posted by Gazelle:
I have reasons to believe that a property boom is good for the
economy, especially for people who have been caught during the last
recesssion.
the people who were caught by the last recession were caught by a
cycle of boom and bust. hence if we can minimise the boom and bust
in the first place, that is to stabilise price of housing over the
long term, such predicament wouldn't have happened in the first
place would it?
I would have reason to believe that all those who are involved in
the enbloc sales will make a decent profit off loading them.
no?
many of the buildings involved in enbloc sales are in pretty good
condition. tearing them down is a waste of resources. the cost of
rebuilding the place would be passed down to future owners which is
an extra burden for nothing. even 30 year old HDB is being
retrofitted and upgraded.
... because what we are seeing today is nothing compared with the
property boom we have seen the 80s and 90s.
are you saying that if we have a recession tomorrow, we could still
sit back and relax because it is only a fraction of the recession
in 1997, 2001 or 2003?
If someone is always thinking of enjoying the finest things in life
then I must say that he or she would have to work hard for it, not
hoping that things will get cheaper.
no one's hoping for things to get cheaper, we're hoping govt
policies don't cause things to suddenly become so expensive, like
GST and boosting immigration to 6.5 million.
As long as the influx of super-rich will trigger the creation of
new jobs and opportunities, I think that will be
healthy.
that's your wishful thinking. no matter how super rich they are,
every richie rich that comes here will not employ 50 taxi drivers
or a 100 chefs. the other way is likely, 50 super rich, even though
they're rich, will not pay more than is required to employ just one
taxi driver or one chef.
