26 Jun '11, 1am

It's time to move on – Goh Meng Seng

It's time to move on – Goh Meng Seng

I’m more worried about the housing bubble bursting than the pricing mechanism. Cost price (of building a flat) will go up but a bubble will go far beyond the costing of building a flat. Now, we have low interest rate and high liquidity, and we also have lots of PR (Permanent Residents) who are buying resale flats, which affect the new flats’ pricing because of the pricing mechanism link. In the next 6 months, there will be two time bombs. First, the US dollar. As the world reserve curreny, will it stay if the US Government has difficult repaying the treasury bonds? Next are the peaks in Euorpe- whether it will lead to a financial crisis bigger than the one triggered by the Lehman Brothers’ collapse. There will be a sudden vacuum in the financial order. If that happens, all the value will come down and create a crash. But even if the bubble does not detonate, but the pricin...

Full article: http://theonlinecitizen.com/2011/06/it%e2%80%99s-time-to-...

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