Friday, November 26, 2010

CPF and low cost housing

Read the views of the Reform Party in SGEP.
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2 comments:

Unknown said...

low cost housing = happy singaporeans = more social life = more kids = quality of living

I vote for reform party.

November 26, 2010 8:33 AM
Jamesneo said...

low cost housing is important but my view is that we should not have the false idea that all singaporeans must be property owners. It is precisely this idea the lead to the subprime housing problem in US.

Instead, only those that have the ability should own a property.
For those that could not own a property we should increase the rental flats substantially to cater for this less fortunate people and give assistance if needed.

Unfortunately it is impossible for the government to make a soft landing now. If the reform party or other parties try to defuse the price now it will just be a great scapegoat for the pap to pin it on them. The introduction of low housing would be most successful after the crash in property and very slow increase back in prices.

"private sector a much bigger role in providing housing for the majority of the population so as to improve affordability and quality through competition"

Regarding the reform party quote, I am not in favour of the private sector of having a larger share. In US and other countries it is precisely this private sector that give subprime mortages to their citizens that lead to the escalating housing prices in US , ireland, spain and many other countries. There will be no real competition because the real estate industry will just bid a larger land price and just pass on this expenses to their customers who will willingly accept because they have the false idea of asset appreciation.

November 26, 2010 12:08 PM

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