These suckers ain't suckers, they are foreigners who convert to
PR or citizens to buy our flats at as they needed a place to stay,
no matter what price, they have the cash and is willing to pay.
This inturn push up the price as supply of flats is low. However,
you never know when they will pack their bags and return to their
resp countries, some countries accept dual citizenship because
their Country will do anything to make them return. If this
happens, there will be alot of flats available, the price will fall
hard. But then now, the price will remain high, probably not going
alot higher now, pity those young Singaporeans and mid Singaporeans
who wants to own property, the former have huge burden to carry for
ages and the latter have to be contented to be middle class
forever. Those days where middle class can buy house as investment
are gone.
I think minister is still doing okay.
He targetted the first time young families who desperately
needed a flat with the launch of numerous BTO flats.
However, his job is still not done.
There is still the sandwiched class who do not qualify for new
BTO flats as first timers or even the 35 year old and above singles
who cannot afford the high priced resale flats. This still
represents a sizeable % of those wanting to buy a home.
I think his next job should be for this group.
