Read this story.
My view
We can stop the price escalation of HDB flats by providing a supply of flats for rental at controlled prices. The Government has the means to achieve this goal, if they wish to. We have plenty of land and idle manpower (remember the unemployed PMETs) that can be put to build these flats. If rental flats are available at affordable prices, there is no need for citizens to panic and buy a HDB resale flat at inflated price.
When the property prices come down to a sensible level, i.e.5 years of average income, we will have a better economic and social structure. We will not have some people, e.g. land owners, property developers, property agents, lawyers and government leaders, making so much money at the expense of the ordinary people.
For this to be possible, we need a government that truly care for the welfare of the people.
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