There are many who are applauding GMS for being willing to use SOME of the money from his flat sale to fund his election campaign. If he is indeed doing so, then I must commend him too.
But I would like raise just one SMALL point.
For quite a while, GMS has been railing against the runaway prices of HDB flats as part of his strategy to strike at MBT, ala the humorously named “minister-specific” strategy.
Currently HDB resale prices are very high, as indicated by the large quantum of COVs being offered or demanded. GMS blames the government (and MBT) for its foreigner/immigration policies that he says caused this escalation.
Since his family is overseas and he is staying with his aged mother, it makes good monetary sense to liquidate his four-room flat NOW. The house has probably been rented out or been left standing idle.
Ironically, he and his party are now BENEFICIARIES of the runaway HDB prices. Perhaps he should be thanking MBT for inadvertently creating the conditions such that his campaign can be better funded.
I just hope that by the time comes when he needs to buy a flat in Tampines SHOULD he become MP there, house prices would have reduced (or even burst). He can then pocket the difference.
However, when that happens, other flats owners would be cussing – since the prices of their fixed asset value would have dropped. It would be especially devastating for people who bought at the peak.
More specifically, the person (or clown) who is going to buy GMS’s flat will be a very angry person too.
What irony indeed!
http://www.facebook.com/notes/bryan...ion-election-campaign-indirectly/396568688976
But I would like raise just one SMALL point.
For quite a while, GMS has been railing against the runaway prices of HDB flats as part of his strategy to strike at MBT, ala the humorously named “minister-specific” strategy.
Currently HDB resale prices are very high, as indicated by the large quantum of COVs being offered or demanded. GMS blames the government (and MBT) for its foreigner/immigration policies that he says caused this escalation.
Since his family is overseas and he is staying with his aged mother, it makes good monetary sense to liquidate his four-room flat NOW. The house has probably been rented out or been left standing idle.
Ironically, he and his party are now BENEFICIARIES of the runaway HDB prices. Perhaps he should be thanking MBT for inadvertently creating the conditions such that his campaign can be better funded.
I just hope that by the time comes when he needs to buy a flat in Tampines SHOULD he become MP there, house prices would have reduced (or even burst). He can then pocket the difference.
However, when that happens, other flats owners would be cussing – since the prices of their fixed asset value would have dropped. It would be especially devastating for people who bought at the peak.
More specifically, the person (or clown) who is going to buy GMS’s flat will be a very angry person too.
What irony indeed!
http://www.facebook.com/notes/bryan...ion-election-campaign-indirectly/396568688976