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. 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?Originally posted by Atobe:Wooing the super-rich has already re-ignited the property price boom, real estate prices have sky rocketed, enbloc sales have caused hardships to those who have recently moved into a mature neighborhood without realising their stay will be short term and their investment unrecoverable.
I am very sure the Singaporeans will be able to afford a decent home for themselves because what we are seeing today is nothing compared with the property boom we have seen the 80s and 90s. 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.Originally posted by Atobe:
Will hardworking Singaporeans forever chase their upgrade to a dream home with the prices continuously spiralling upwards ?
Are you saying that an increase of dinners at Le Amis restaurant will cause a price increase of a bowl of Mee Pok in AMK? And an increase of Bentley cars in Singapore result in an increase in public transport?Originally posted by Atobe:
With the entry of the super-rich, Singapore's social, economic, and cultural environment will see price rises as the service providers will have to cover their increased costs of operations due to the high initial start-up costs in rentals and renovations.
I dont think JB is a right comparison because the type of things singaporeans spend on in JB is different from what the super rich will spend in Singapore. eg. Sg like to buy grocery and eat cheap seafood in JB, hence this causes cost of food and basic items to increase. do you think that life of the Johorian will be better without Singaporeans?Originally posted by Atobe:
The situation will be similar to the Johor Bahru residents complaining of their higher Costs of Living due to an influx of Singaporeans into their community, spending a stronger Singapore Dollar on all types of consumer products - from groceries to fresh food, from homes to industrial lots - all swamping the southern city of Peninsular Malaysia.
Do you have any concrete example to support your statement?Originally posted by Atobe:
Singaporeans will have to be prepared for higher Costs of Living as the Government will continue to provide higher standards of services to pamper the super-rich, and keep the costs reasonable for them by simply spreading the higher costs amongst a larger base of average Singaporeans that are already facing a continuous shrinking of our real income.
What do you mean by being "able to afford a decent home for themselves" ?Originally posted by Gazelle:
Originally posted by Atobe:
Wooing the super-rich has already re-ignited the property price boom, real estate prices have sky rocketed, enbloc sales have caused hardships to those who have recently moved into a mature neighborhood without realising their stay will be short term and their investment unrecoverable.
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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. 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?
[/quote]
Those people who were caught during the last recession are probably made bankrupts, when they were holding on to high priced properties and the market took a dive.
Simply put - the bubble burst and the next global one can happen any time.
How many of those - caught during the last recession - are still around today ?
Property prices are already probably reaching the apex of the bust-and-boom cycle, just get ready for the bubble to burst.
This trend of rising property prices reaching astronomical high is happening on a Global Scale and when the Bubble Burst - the impact will be worst then the event that occurred locally during the 1980s and 1990s.Originally posted by Atobe:Will hardworking Singaporeans forever chase their upgrade to a dream home with the prices continuously spiralling upwards ?
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I am very sure the Singaporeans will be able to afford a decent home for themselves because what we are seeing today is nothing compared with the property boom we have seen the 80s and 90s. 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.
As long as the influx of super-rich will trigger the creation of new jobs and opportunities, I think that will be healthy.
Do you think that Johoreans with a Malaysian Ringgit salary, will appreciate the fact that Singaporeans has caused the Johoreans' "cost of food and basic items to increase" ?
Originally posted by Atobe:
The situation will be similar to the Johor Bahru residents complaining of their higher Costs of Living due to an influx of Singaporeans into their community, spending a stronger Singapore Dollar on all types of consumer products - from groceries to fresh food, from homes to industrial lots - all swamping the southern city of Peninsular Malaysia.
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I dont think JB is a right comparison because the type of things singaporeans spend on in JB is different from what the super rich will spend in Singapore. eg. Sg like to buy grocery and eat cheap seafood in JB, hence this causes cost of food and basic items to increase. do you think that life of the Johorian will be better without Singaporeans?
The trouble with persons asking for concrete examples - are similar to those asking for PROOF.
Originally posted by Atobe:
Singaporeans will have to be prepared for higher Costs of Living as the Government will continue to provide higher standards of services to pamper the super-rich, and keep the costs reasonable for them by simply spreading the higher costs amongst a larger base of average Singaporeans that are already facing a continuous shrinking of our real income.
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Do you have any concrete example to support your statement?
I could confidently say that majority of those who were made bankrupt during the last recession are those who have spend beyound their means and their life are driven by greed. And there is nothing your government can do to prevent you from doing that regardless of how cheap the property. I believe property is not the main cause of bankruptcy in Singapore, it is the credit cards, car loan and failing businesses.Originally posted by Atobe:Those people who were caught during the last recession are probably made bankrupts, when they were holding on to high priced properties and the market took a dive.
Simply put - the bubble burst and the next global one can happen any time.
How many of those - caught during the last recession - are still around today ?
Property prices are already probably reaching the apex of the bust-and-boom cycle, just get ready for the bubble to burst.
This trend of rising property prices reaching astronomical high is happening on a Global Scale and when the Bubble Burst - the impact will be worst then the event that occurred locally during the 1980s and 1990s.
[/color]
I think you should blame the politicians in MY and not the tourists for spending in JB. Every dollar spend in JB by Singaporeans, is an addition income to the country, it is how they distribute this income to the people in JB and ensure that thing such as food items are being managed. (an example is why we have NTUC fairprice to set the benchmark price for food items)Originally posted by Atobe:continuation
Do you think that Johoreans with a Malaysian Ringgit salary, will appreciate the fact that Singaporeans has caused the Johoreans' "cost of food and basic items to increase" ?
With the rise in their cost of food and basic items, and their Malaysian Ringgit hardly matching the SingDollar wages paid in Singaporean - perhaps you can answer your own question if 'life of the Johorean will be better without Singaporeans";.
Your question belie a shrewd underlining attempt to blur the matter further, in that you are probably mixing the average Johoreans with the Johorean shop keepers that provide the services and products that Singaporeans purchase.
How many Johoreans are involved in this trade services - from a population of 876,033 living in J.B. out of a total of 2.9 Million living in the State of Johor ?
How many from these 876,033 living in J.B. would you consider - will benefit in the direct services and trades with Singaporeans and are manning the shop counters in Holiday Plaza, City Square, Pelangi Plaza, the Carre Fours, the Giants, the JUSCO, and further out in the suburbs of Johor Bahru ?
Judging the situation as it is, Singaporeans are the main beneficiary of a hospitable Johor - when most of the shops at Holiday Plaza and Pelangi Plaza are owned by Singaporeans, and with Johor Bahru City Square being 70% owned by Singapore GIC, and many private housing estates are also purchased by Singaporeans.
What has happened to property prices in Johor Bahru - besides the increases to the goods and services in J.B. for Johoreans ?
Johoreans are forced to live further out in the suburbs - more then 40 km from J.B. where housing is cheaper, food and services are minimal but comparatively lower than J.B.
New housing estates are built for Johoreans in Kulai, Kluang, Kota Tinggi, Muar, Batu Pahat, and Ayer Hitam. The fallout effect is that car ownership has boomed, causing chaotic traffic conditions during peak hours as everyone seems to be employed in and around J.B.
Singaporeans will face similar consequences with an influx of the super-rich, who will compete with us and surely will drive prices up, as service providers will cater more to the market that can afford to pay higher prices; while services for average Singaporeans will deteriorate.
[/color]
Originally posted by Atobe:I would be very glad if you could provide evidence or example about your statement saying that “Government will continue to provide higher standards of services to pamper the super-rich, and keep the costs reasonable for them by simply spreading the higher costs amongst a larger base of average Singaporeans that are already facing a continuous shrinking of our real income.”
continuation
The trouble with persons asking for concrete examples - are similar to those asking for PROOF.
Can you handle it, or even recognise it when events are already unfolding before you ?
Johorean's experience is a classic case, and you are already into self-denial.
Look at Monaco before the Super-Rich lay claim to it - what was Monaco then and now ?
In the 19th Century, Monaco was the most important port along the French Mediterranean coast, but has now lost all commercial significance; while its economy was based on - ''fishery, cultivation of fruit trees (olive, orange,lemon), and the Casino of Monte Carlo established in 1856 - whose revenues are sufficient to free the inhabitants of the principality from the burden of taxation.''
At least, Monaco has one casino that lifted the tax burden from its population since 1856; now that Singapore will have two euphimistacally named Integrated Resorts' and attempting to attract the Super-Rich to live in Singapore too - will this Government follow Monaco's footstep with zero tax on the population, and living off the earnings of the casinos ?
Of course, Monaco is not betting all its money on the single casino, as it is also diversifying its economy too, with the financial, tourism and convention sectors being prime areas of interest as is Singapore.
The problems of the arrival of the super-rich in Singapore will be a mirror image of the problems encountered in Monaco - it simply widen the [b]gap between the Rich and the Super-Rich, and will spark off a new round of immoral ostentatious display of wealth, and developing a swelling greed for more of the same.
There will be the worship of the Rich and Famous, and there will be social charlatans, and more carpet beggars.
[/b]
Yes, the majority of those made bankrupts could well be the credit card spenders.Originally posted by Gazelle:Originally posted by Atobe:
Those people who were caught during the last recession are probably made bankrupts, when they were holding on to high priced properties and the market took a dive.
Simply put - the bubble burst and the next global one can happen any time.
How many of those - caught during the last recession - are still around today ?
Property prices are already probably reaching the apex of the bust-and-boom cycle, just get ready for the bubble to burst.
This trend of rising property prices reaching astronomical high is happening on a Global Scale and when the Bubble Burst - the impact will be worst then the event that occurred locally during the 1980s and 1990s.
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I could confidently say that majority of those who were made bankrupt during the last recession are those who have spend beyound their means and their life are driven by greed. And there is nothing your government can do to prevent you from doing that regardless of how cheap the property. I believe property is not the main cause of bankruptcy in Singapore, it is the credit cards, car loan and failing businesses.
How could those people who have been caught during the last recession benefit from the current property boom, especially those who have been caught by the Banks and not able to pay up on the heavy loans used for the purpose of property speculation ?
"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. 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? "
Originally posted by Gazelle:Firstly, the average Singaporeans by comparison to the Johoreans, will be seen to be richer by far; and the by a comparison of the standard of wages earned (vis-a-vis) the prevailing Exchange Rate, the Johoreans will look at Singaporeans as Super-Rich.
Originally posted by Atobe:
continuation
Do you think that Johoreans with a Malaysian Ringgit salary, will appreciate the fact that Singaporeans has caused the Johoreans' "cost of food and basic items to increase" ?
With the rise in their cost of food and basic items, and their Malaysian Ringgit hardly matching the SingDollar wages paid in Singaporean - perhaps you can answer your own question if 'life of the Johorean will be better without Singaporeans";.
Your question belie a shrewd underlining attempt to blur the matter further, in that you are probably mixing the average Johoreans with the Johorean shop keepers that provide the services and products that Singaporeans purchase.
How many Johoreans are involved in this trade services - from a population of 876,033 living in J.B. out of a total of 2.9 Million living in the State of Johor ?
How many from these 876,033 living in J.B. would you consider - will benefit in the direct services and trades with Singaporeans and are manning the shop counters in Holiday Plaza, City Square, Pelangi Plaza, the Carre Fours, the Giants, the JUSCO, and further out in the suburbs of Johor Bahru ?
Judging the situation as it is, Singaporeans are the main beneficiary of a hospitable Johor - when most of the shops at Holiday Plaza and Pelangi Plaza are owned by Singaporeans, and with Johor Bahru City Square being 70% owned by Singapore GIC, and many private housing estates are also purchased by Singaporeans.
What has happened to property prices in Johor Bahru - besides the increases to the goods and services in J.B. for Johoreans ?
Johoreans are forced to live further out in the suburbs - more then 40 km from J.B. where housing is cheaper, food and services are minimal but comparatively lower than J.B.
New housing estates are built for Johoreans in Kulai, Kluang, Kota Tinggi, Muar, Batu Pahat, and Ayer Hitam. The fallout effect is that car ownership has boomed, causing chaotic traffic conditions during peak hours as everyone seems to be employed in and around J.B.
Singaporeans will face similar consequences with an influx of the super-rich, who will compete with us and surely will drive prices up, as service providers will cater more to the market that can afford to pay higher prices; while services for average Singaporeans will deteriorate.
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I think you should blame the politicians in MY and not the tourists for spending in JB. Every dollar spend in JB by Singaporeans, is an addition income to the country, it is how they distribute this income to the people in JB and ensure that thing such as food items are being managed. (an example is why we have NTUC fairprice to set the benchmark price for food items)
Like I said before, Singaporeans buying pattern in JB are different from the super-rich that reside in Singapore, plus majority of the food items here are imported from overseas, hence there is less impact of the cost of manufacturing those products due to the spike in cost of living in Singapore.
"hence there is less impact of the cost of manufacturing those products due to the spike in cost of living in Singapore"No, how can the cost of living in Singapore affect the cost manufacturing those products that are sourced overseas ?
Originally posted by Gazelle:Can you handle any "Proof" even if it was presented to you on a plate ?
Originally posted by Atobe:
continuation
The trouble with persons asking for concrete examples - are similar to those asking for PROOF.
Can you handle it, or even recognise it when events are already unfolding before you ?
Johorean's experience is a classic case, and you are already into self-denial.
Look at Monaco before the Super-Rich lay claim to it - what was Monaco then and now ?
In the 19th Century, Monaco was the most important port along the French Mediterranean coast, but has now lost all commercial significance; while its economy was based on - ''fishery, cultivation of fruit trees (olive, orange,lemon), and the Casino of Monte Carlo established in 1856 - whose revenues are sufficient to free the inhabitants of the principality from the burden of taxation.''
At least, Monaco has one casino that lifted the tax burden from its population since 1856; now that Singapore will have two euphimistacally named Integrated Resorts' and attempting to attract the Super-Rich to live in Singapore too - will this Government follow Monaco's footstep with zero tax on the population, and living off the earnings of the casinos ?
Of course, Monaco is not betting all its money on the single casino, as it is also diversifying its economy too, with the financial, tourism and convention sectors being prime areas of interest as is Singapore.
The problems of the arrival of the super-rich in Singapore will be a mirror image of the problems encountered in Monaco - it simply widen the [b]gap between the Rich and the Super-Rich, and will spark off a new round of immoral ostentatious display of wealth, and developing a swelling greed for more of the same.
There will be the worship of the Rich and Famous, and there will be social charlatans, and more carpet beggars.[/b]
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I would be very glad if you could provide evidence or example about your statement saying that “Government will continue to provide higher standards of services to pamper the super-rich, and keep the costs reasonable for them by simply spreading the higher costs amongst a larger base of average Singaporeans that are already facing a continuous shrinking of our real income.”
Monaco, home to 32,410 and an area of 1.96 square kilometers, an economy that relies on nothing but tourism dollar, especially those wealthy foreigners who seek tax refuge for their multi million and billion.
You must be really running out of ideas to use Monaco as an example for both Singapore and JB.
Like I mentioned before, if you life is driven by greed and appetide for risk and getting involve in speculating property, can you blame our government if you are made bankrupt? On one hand you are blaming government for no freedom, on the othe hand you are blaming the government for no doing anything go prevent people from buying property? And for your info, the government did increase in the minimum downpayment to restrict speculator prior to the crash.Originally posted by Atobe:Yes, the majority of those made bankrupts could well be the credit card spenders.
Unfortunately, those who caused the Banks the biggest dents are those in the minority, who borrowed heavily to ride on the property boom prior to the collapse of the property prices.
In any case, my response was addressing the following statement in your previous post, which did not include credit card spenders made bankrupt.
Keep Life simple by not adding irrelevant points - unless you have nothing else to add, but simply wish to digress
Property boom will benefit all existing home owners, especially those who have been holding on to negative value property.Originally posted by Atobe:How could those people who have been caught during the last recession benefit from the current property boom, especially those who have been caught by the Banks and not able to pay up on the heavy loans used for the purpose of property speculation ? [/color]
Originally posted by Atobe:All I am asking you is to quote me an example of a policy that supports your argument that “Government will continue to provide higher standards of services to pamper the super-rich, and keep the costs reasonable for them by simply spreading the higher costs amongst a larger base of average Singaporeans that are already facing a continuous shrinking of our real income.”
Can you handle any [b]"Proof" even if it was presented to you on a plate ?
What more proof or evidence do you need when events are occurring daily around us, and you cannot even make out the front end from the rear ?
The Singapore Government claims that we have to build a World Class City so that we can attract the Foreign Talents - as they are supposed to bring in and increase the size of our economy, and to create more jobs for Singaporeans.
World Class City at World Class Prices ? Can there be enough foreing talents to use all the facilities of a World Class City build at World Class Costs, that will need to be recovered from prices fixxed at World Class Prices ?
Who else are around in Singapore to help defray the costs of building a World Class City except a mass of Singaporeans paid Third World Wages under Third World Short-Term Work Contracts ?
Singaproeans are mostly employed on Work Contracts that are renewalble every three to five years - if you are lucky; since most Singaporeans are currently offered new jobs with only 6 months to 1 year work contract.
In order to keep property prices stable, the Government cannot reverse the trend of selling Government Land - for Private or Public Development - that were set at artificially high price; as any downward changes will undermine the existing property values.
While the Rich continue to buy and sell properties, and grow their monies through speculative purchases of properties, Singaporeans suffer as a consequence, as their purchase of Private or HDB homes will similarly increase in the selling prices.
Instead of wooing the Super-Rich, why is this Government not helping to create wealthy Singaporeans instead - in a similar way that politics and the laws are drafted in Switzerland that creates and protect the wealth of Swiss Citizens ?
With the large amount of money spent on reclaiming land from the sea and designated as the New Marina - Downtown Financial District - do you think that the Singapore Government will build low cost HDB units there, or if it will attract the Super-Rich to place their monies here, semi- or retire here with the Super-Million Dollar apartment build for their purpose ?
Who has paid for the massive amount spent on land reclamation, and who will be paying for the multi-dolloar spent on infrastructure that include new MRT lines, roads, and utilities ?
With all these infrastructural investments, this Government will spread the cost of the additional facilities in the New Marina Financial District, by increasing the overall costs of all these essential services.
[/b]
Originally posted by Atobe:You must have forgotten that most Malaysians living in JB works in Singapore and the earn S$ instead of RM. And FYI, most people living in JB are not Johorians, they are people from all parts of Malaysia who are living there so that they can commute to Singapore. Singaporean going to JB as super-rich? If we are, then Singaporeans shouldnt be packing their cars with tons of grocery and petrol, and seeking for cheap thrill. I think Singaporeans are super greedy, not super rich.
Firstly, the average Singaporeans by comparison to the Johoreans, will be seen to be richer by far; and the by a comparison of the standard of wages earned (vis-a-vis) the prevailing Exchange Rate, the Johoreans will look at Singaporeans as Super-Rich.
Originally posted by Atobe:Again, I think you are making assumption and having your own perception. If my memory serve me right, Malaysia has an aggressive 2020 ambition to be the first muslim developed country in the world. To be a developed country, average wages has to go up, people will have to be more educated. hence do you think it is in the interest of the government to keep wages low and remain focusing on the primary industry?
Secondly, for such a large country - by comparison - the Malaysian Government is doing a better job in keeping costs of essential foodstuff at an affordable rate and prevent profiteering by the Suppliers of essential goods.
This can hardly be said of the Singapore Government, where CASE is run by a Government "annointed" appointee, who will work in consultation with the major "Price Fixxer" - the NTUC, also headed by a Government "annointed" appointee.
Originally posted by Atobe:I would say that probably 99% of what we consume in Singapore are directly or indirectly imported. Hence I think it might be better for you to take a look at what is happening around the world today instead of blaming our government for not doing anything.
The basic principle that our first Economics Minister - Dr Goh Keng Swee - propounded was the advantage of specialization mentioned in the Economic Theory of Comparative Advantage.
Singapore's advantages are our strategic location and size that require us to industrialise, and leave the primary and agricultural sectors to our neighbors with bigger land and human resource.
We were supposed to increase our wealth so as to improve our purchasing power, and be able to influence and control costs to ourselves.
With the scale of mass or volume purchase, and the strength of our Currency, we were supposed to be in a position to buy all our essential food and material items at a far cheaper price than we can perform ourselves.
Did we achieve this goal ?
Originally posted by Atobe:I bet you are not aware that some of the basic items in Malaysia are subsidize by the MY government specially for the lower income people who couldnt afford it?
The NTUC certainly did meet the goal set up by Dr Goh Keng Swee in that it was able to buy in volume all the necessary items needed by Singaporeans, but these were then sold at prices that are far higher than in the place of manufacture and sold to their consumers in the country of origin.
Make a comparative study of prices of essential items sold in Malaysia and Singapore, and the price can be quite revealing to the profiteering of a captive Singaporean market.
Originally posted by Atobe:You mean the plot of land which Carrefour and Coldstorage operate in downtown are not expensive? Do you have reason to believe the NTUC presense in Downtown areas will make grocery in downtown more expensive and not more competitive? As an average Singaporean living in downtown, and if cost is a major concern, would you prefer to have a choice to shop at NTUC?
The accumulated annual bumper profits allowed NTUC to build a glass castle in the most expensive plot of land in downtown Singapore.
NTUC's involvement in the Supermarket business was supported by the Singapore Government - which is totally immersed in any business that generate dollars and cents by the second into the Cash Register.
Originally posted by Atobe:I think you are contradicting yourself here. Firstly you begin by saying super rich that comes to singapore will create cost pressure on average singaporeans life, and you compare that with the life of johorian affected by Singaporeans visiting JB. And now you are saying that Super Rich can afford to pay higher price. I am not sure if you do know the underlying reason why Singaporeans go to JB for shopping?
If the Singaporean Super Rich visit J.B. - the Johoreans will think that Royalty has arrived.
In any case, the Super-Rich do not even bother to visit J.B. as they have the resources to pay for the even higher priced products in the up market supermarkets - Jasons, and Cold Storage.
No, it is not the Super-Rich that visit J.B. but it is the Singaporean Middle and Lower Income Groups that visit J.B.
Originally posted by Atobe:I think you are quoting me out of context here, I was just trying to playdown your concern that the arrival of super rich and rising property prices in prime area will make cost of basic items to rise like what happened in JB. And my point here is that Singapore import 99% of what we consume, hence rising property prices in prime district or the millionair playground in downtown will have minimal cost pressure for average singaporeans life.
quote:
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"hence there is less impact of the cost of manufacturing those products due to the spike in cost of living in Singapore"
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No, how can the cost of living in Singapore affect the cost manufacturing those products that are sourced overseas ?
Originally posted by Atobe:I am not sure what does wooing super rich to Singapore has to do with granite and sands. Singapore, like any open market ecnomy, will always be affected by external force, and the reason why we are able to overcome them is because we have a capable (not perfect) government that can help to counter any external threats.
BTW, granite and sand quarries in Singapore were shut down in Singapore, and we were made to be dependent on external sources; and exposed our weak flanks to external squeezing; resulting in a string of unforeseen consequences to Singaporeans - paying it all at the end of the line.
Can you see the difference in that costs or selling prices kept purposefully by foreigners or by locals, will end up affecting the Singapore Cost of Living ?
Originally posted by Gazelle:No where in my last two response have I even begun to blame the Government for the number of bankruptcies - how did you manage to read this in my last statements and bring this up ?
Originally posted by Atobe:
Yes, the majority of those made bankrupts could well be the credit card spenders.
Unfortunately, those who caused the Banks the biggest dents are those in the minority, who borrowed heavily to ride on the property boom prior to the collapse of the property prices.
In any case, my response was addressing the following statement in your previous post, which did not include credit card spenders made bankrupt.
Keep Life simple by not adding irrelevant points - unless you have nothing else to add, but simply wish to digress
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Like I mentioned before, if you life is driven by greed and appetide for risk and getting involve in speculating property, can you blame our government if you are made bankrupt? On one hand you are blaming government for no freedom, on the othe hand you are blaming the government for no doing anything go prevent people from buying property? And for your info, the government did increase in the minimum downpayment to restrict speculator prior to the crash.
In any case, I was just tying to highlight to you that credit cards, car loans and failing business are the major caused of bankrupcy in Singapore, rather than what you say that majority of home owners who bought property prior to last recession were made bankrupt. If that is a fact, then majority of singaporeans adult will be made bankrupt isnt it?
Originally posted by Atobe:This is obvious, but how many from the last boom and bust cycle are around to take advantage of the current boom ?
How could those people who have been caught during the last recession benefit from the current property boom, especially those who have been caught by the Banks and not able to pay up on the heavy loans used for the purpose of property speculation ?
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Property boom will benefit all existing home owners, especially those who have been holding on to negative value property.
Have you so quickly forgotten the recommendation of the sub-Committee on Policies Related To Taxation, The CPF System, Wages & Land - Economic Review Committee set up after the 2002 crash ?Originally posted by Gazelle:
Originally posted by Atobe:
Can you handle any "Proof" even if it was presented to you on a plate ?
What more proof or evidence do you need when events are occurring daily around us, and you cannot even make out the front end from the rear ?
The Singapore Government claims that we have to build a World Class City so that we can attract the Foreign Talents - as they are supposed to bring in and increase the size of our economy, and to create more jobs for Singaporeans.
World Class City at World Class Prices ? Can there be enough foreing talents to use all the facilities of a World Class City build at World Class Costs, that will need to be recovered from prices fixxed at World Class Prices ?
Who else are around in Singapore to help defray the costs of building a World Class City except a mass of Singaporeans paid Third World Wages under Third World Short-Term Work Contracts ?
Singaproeans are mostly employed on Work Contracts that are renewalble every three to five years - if you are lucky; since most Singaporeans are currently offered new jobs with only 6 months to 1 year work contract.
In order to keep property prices stable, the Government cannot reverse the trend of selling Government Land - for Private or Public Development - that were set at artificially high price; as any downward changes will undermine the existing property values.
While the Rich continue to buy and sell properties, and grow their monies through speculative purchases of properties, Singaporeans suffer as a consequence, as their purchase of Private or HDB homes will similarly increase in the selling prices.
Instead of wooing the Super-Rich, why is this Government not helping to create wealthy Singaporeans instead - in a similar way that politics and the laws are drafted in Switzerland that creates and protect the wealth of Swiss Citizens ?
With the large amount of money spent on reclaiming land from the sea and designated as the New Marina - Downtown Financial District - do you think that the Singapore Government will build low cost HDB units there, or if it will attract the Super-Rich to place their monies here, semi- or retire here with the Super-Million Dollar apartment build for their purpose ?
Who has paid for the massive amount spent on land reclamation, and who will be paying for the multi-dolloar spent on infrastructure that include new MRT lines, roads, and utilities ?
With all these infrastructural investments, this Government will spread the cost of the additional facilities in the New Marina Financial District, by increasing the overall costs of all these essential services.
-------------------------------------------------------------------------------------------------------------------------------------All I am asking you is to quote me an example of a policy that supports your argument that “Government will continue to provide higher standards of services to pamper the super-rich, and keep the costs reasonable for them by simply spreading the higher costs amongst a larger base of average Singaporeans that are already facing a continuous shrinking of our real income.”
I wonder who actually gives your the idea and most Singaporeans are employed on contracts basis?