16 Nov '11, 1pm

[TOC] An entire nation held hostage by the property market

[TOC] An entire nation held hostage by the property market

Singapore is one of the few countries, if not the only country in the world whose government explicitly states that property does not simply provide shelter, but is also an investment, a nest egg, a retirement plan, and an asset that is meant to grow appreciably in value over time. Is that really logical? A rising stock market is a sign of growing corporate profits, and increasing gross national product. But what forms the foundation of a rising property market? Why should, and how can, a government mandate that property values must always be on the rise, and furthermore, always increase at a respectably fast pace? The PAP’s policy of property price appreciation started when Mr Goh Chok Tong became Singapore’s Prime Minister at the start of the 1990s. Since then, the PAP government has mandated that Singaporeans must be invested in the country via property ownership. A ris...

Full article: http://theonlinecitizen.com/2011/11/an-entire-nation-held...

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