Tuesday, May 07, 2013

Housing prices - a Ponzi?

The inflation in housing prices can be seen as a Ponzi scheme.
Read this article:

1 comment:

Lye Khuen Way said...

I agree that our HDB scheme has morphed into a ponzi scheme of a sort after the "asset enhancement" came into the picture. Additionally, the pegging of new flats price to market was a disaster.
Maybe, it was also due to the fact that "owners" could sell on the open market, previously where COV was illegal, then later sanctioned.

When decades ago, all flats need to be returned back to HDB, the new "owners" do not have to fork out more.

Who started it ? The "coverment" with the citizens implied consent.
Who gained ? The "coverment", the previous "owners".

Eventually, the music will stop. Then ?

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