Read this article in the blog: Diary of a Singapore Mind
My comment:
The problem has reach a stage which is difficult to solve. Housing price is too high. People are unclear about how to treat housing - is it an investment or a cost of living? One party blames the other party.
My preferred approach is to create a new type of housing based on controlled price, i.e. cost plus. This can be adjusted with inflation and reduced by depreciation. Give people a choice whether they wish to treat housing as an investment (i.e. based on the current market pricing) or as a cost of living (i.e. based on the controlled pricing).
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