|The Straits Times, Published on Dec 01, 2014
Where was Redas when home prices were rising?
LAST Thursday's report ("Property sector 'needs govt support'") reads like a case of the Real Estate Developers' Association of Singapore (Redas) wanting to have its cake and eat it, too.
Redas president Chia Boon Kuah warned of grave consequences for the country, noting how property prices have declined amid falling sales in the last four consecutive quarters.
Did Redas make any such warning when property prices ran ahead of the growth in household incomes, and did it ask the Government to take action then?
It was only last year that we saw the second-quarter private residential property price index hitting an all-time high despite a few rounds of cooling measures.
Did Redas not realise that rising property prices caused the public to fear that homes would be beyond their reach, and that many have bought property even though they may not be able to service the housing loans?
The supply of 68,000 completed residential units over the next few years will be built by the association's members.
More properties may have been put on the block due to mortgage defaults ("More homes go under the hammer in weak market"; Nov 21), if not for the cooling measures and the total debt servicing ratio framework.
Khong Kiong Seng
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Where was Redas when home prices were rising? - Forum Letters Premium News - The Straits Times
|"If the annual salary of the Minister of Information, Communication and Arts is only $500,000, it may pose some problems when he discuss policies with media CEOs who earn millions of dollars because they need not listen to the minister's ideas and proposals. Hence, a reasonable payout will help to maintain a bit of dignity."
- MP Lim Wee Kiak apologises for comments on pay
but can't blame them, they are made up of profit-driven organisation.
PAP on the other hand, should not be profit driven.
don't blame the fat cats in Wall Streets, don't blame the ultra rich in HK, don't blame the conglomerates, the MNC, for they are entitled to higher and higher profits?
at whose expense?