let's think about it this way .... the chaps who owns flats that
are so expensive right now .... signed off their backsides to the
banks in their time too, neh ? ..... so you want to devalue what
for some of them, is their most valuable asset ? ... the one that
they depend on for retirement ? ....
I've met a case just like that you know ... a retiree who wants
to flip his marine parade point block flat, which is worth around
650k now, for a smaller unit to be near his grandchildren ... and
to have a bit of cash for his golden years ... that's not going to
happen if the COV is capped or prices dipped to half that ....
remember, they are voting singaporeans too .... and honestly,
not to say that it's not a burden .... but 30 years is still about
average for first world countries .... back in canada, the average
house mortgage nowadays ... is around 40 years ... that's right, 40
years (or more !)... buy a house straight out of school, and
you may just finish paying it off when you retire ....
so in summary we are screwed either way? so many people I know
are having problems finding a place they can afford, in one case
postponing marriage indefinitely.
