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Multi-property owner speaks up
<!-- / icon and title --><!-- message -->ST Forum | Published on 5 Jan 2012
Quote:
Personally, I feel that the writer has completely missed the point of the recent cooling measures implemented by the Government. Policies rarely benefit everyone across the board and there will always be people who suffer from such a policy change. In this circumstance, the Government has to keep in mind that the average Singaporean (unlike Mr. Tan) has to struggle with rising property prices, which has been driving up the cost of living in Singapore. If this means that 'multi-property' owners such as Mr. Tan have to suffer, I say that this is simply part and parcel of the balancing process. The interests of all Singaporeans have to be protected and the country should not be run on the advice of a select group of people (such as Mr. Tan and REDAS).
Furthermore, a larger problem which the writer completely fails to address would be the likelihood of the market overheating in the event such cooling measures are not implemented. The rate at which the Singapore property market is growing is unsustainable and with the shaky outlook on the global economy, cooling down measures such as that implemented by the Government will only serve to stabilise the already overheated market. In the event where the global economy really crashes, at least our property market will not be facing a complete meltdown (too many Singaporeans are simply overextended vis-a-vis their home mortgages due to the inflated property prices). With this in mind, such a cooling down measure will also stand to benefit 'multi-property' owners such as Mr. Tan in the long run.
What do you all think? http://www.fuckwarezone.com.sg/img/forums/hwz/smilies/confused.gif
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<!-- / icon and title --><!-- message -->ST Forum | Published on 5 Jan 2012
Quote:
I AM put off by the latest round of cooling measures ('Property curbs could hurt economy: Redas'; Dec 28).
I am a Singaporean and own three private properties. I studied hard. I work hard. I employ Singaporeans and contribute to the economy. I pay annual taxes that amount to what some earn in a year.
To me, meritocracy works - and counts, and there are no short cuts: You work hard, you make money and you pay your dues. But now, I am told that as a native Singaporean who has run the gauntlet of our much vaunted meritocracy, I must be penalised further by that very same system because I invested my hard-earned rewards in more than one local property.
This is enough to drive me from the country I grew up in and in which I am still contributing, to think the better of investing here and invest in a property in another country that does not discriminate against high-income earners.
Does my money count? Do I count?
Tan Cheng Hock
Source: The Straits Times / Forum (Published on 5 Jan 2012)I am a Singaporean and own three private properties. I studied hard. I work hard. I employ Singaporeans and contribute to the economy. I pay annual taxes that amount to what some earn in a year.
To me, meritocracy works - and counts, and there are no short cuts: You work hard, you make money and you pay your dues. But now, I am told that as a native Singaporean who has run the gauntlet of our much vaunted meritocracy, I must be penalised further by that very same system because I invested my hard-earned rewards in more than one local property.
This is enough to drive me from the country I grew up in and in which I am still contributing, to think the better of investing here and invest in a property in another country that does not discriminate against high-income earners.
Does my money count? Do I count?
Tan Cheng Hock
Personally, I feel that the writer has completely missed the point of the recent cooling measures implemented by the Government. Policies rarely benefit everyone across the board and there will always be people who suffer from such a policy change. In this circumstance, the Government has to keep in mind that the average Singaporean (unlike Mr. Tan) has to struggle with rising property prices, which has been driving up the cost of living in Singapore. If this means that 'multi-property' owners such as Mr. Tan have to suffer, I say that this is simply part and parcel of the balancing process. The interests of all Singaporeans have to be protected and the country should not be run on the advice of a select group of people (such as Mr. Tan and REDAS).
Furthermore, a larger problem which the writer completely fails to address would be the likelihood of the market overheating in the event such cooling measures are not implemented. The rate at which the Singapore property market is growing is unsustainable and with the shaky outlook on the global economy, cooling down measures such as that implemented by the Government will only serve to stabilise the already overheated market. In the event where the global economy really crashes, at least our property market will not be facing a complete meltdown (too many Singaporeans are simply overextended vis-a-vis their home mortgages due to the inflated property prices). With this in mind, such a cooling down measure will also stand to benefit 'multi-property' owners such as Mr. Tan in the long run.
What do you all think? http://www.fuckwarezone.com.sg/img/forums/hwz/smilies/confused.gif
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