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Probably no property bubble here yet: MM

Watchman

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Probably no property bubble here yet: MM

leekuanyew.jpg


Post under Property News, Trend Posted by PohSeng
THERE is probably no bubble in Singapore's property market,
Minister Mentor Lee Kuan Yew said yesterday.
The sharp price rises that have been seen are 'part of the
total liquidity in the whole world system', said Mr Lee,
noting that interest rates are low, and foreigners still
see properties as affordable. 'Even if we cap our excess,
people in Hong Kong, Indonesia, will say, compared to
what I have to pay, Singapore is cheap, let's buy it,'
he added. 'And apart from landed properties, they can
buy into any condos.' Mr Lee, who was speaking at a
dinner hosted by the Association of Banks in Singapore,
said that the Government is convinced that there is
real underlying demand for residential property.
'So it's probably not a bubble yet,' he added.
Still, he pointed out that the Government has
taken measures to address concerns relating to
the market overheating, including releasing more
land to developers and putting in place more stringent
rules for buyers when borrowing from banks to finance property.
'More land is being released, to dampen the enthusiasm of
everybody rushing for the latest release, and we've told the
banks to be more prudent and have a higher downpayment,'
said Mr Lee. 'These are the precautions we can take, but it
does not stop the Indonesians or the Thais or the
Malaysian Chinese or the Filipino Chinese from coming
here and saying, 'Compared to what I have to pay in
my country, this is cheap'.'

Mr Lee was responding to a question by a
Standard Chartered banker who had asked
about whether he was worried about property prices here.

The banker had also tacked on a second question:
'Can we expect elections anytime soon?'

To that, Mr Lee replied:
'I am not the Prime Minister,
I don't decide.
And anyway it's got nothing to do with a property boom.'

Source : The Straits Times, Jun 26, 2010
 

kukubird58

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The banker had also tacked on a second question:
'Can we expect elections anytime soon?'

To that, Mr Lee replied:
'I am not the Prime Minister,
I don't decide.


Source : The Straits Times, Jun 26, 2010


hahaha...old fart don't decide. he only dictate lah.....
 

Loofydralb

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I have long time ago become wary of whatever he says.

Believe this senile old man at your own risk. See how he evades responsibility below:

Probably no property bubble here yet: MM

leekuanyew.jpg


'These are the precautions we can take, but it
does not stop the Indonesians or the Thais or the
Malaysian Chinese or the Filipino Chinese from coming
here and saying, 'Compared to what I have to pay in
my country, this is cheap'.'

[/I][/B]
Source : The Straits Times, Jun 26, 2010

You cannot stop foreigners coming in, or taxing them to heavens if they want to buy property here?

This cannot....that cannot.....so what CAN the PAP do?:oIo:
 

Cruxx

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Till now, not a single Sinkie sheep can cite me at least one example of Harry Lee's contribution to Sinkieland's relative success. :rolleyes:
 

Loofydralb

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Loyal
Remember when Orchard Rd was flooded, he said nothing much could be done.

BULLSHIT! Much more measures are now being implemented.

Believe LKY at your own risk.
 

halsey02

Alfrescian (Inf)
Asset
The banker had also tacked on a second question:
'Can we expect elections anytime soon?'

To that, Mr Lee replied:
'I am not the Prime Minister,
I don't decide.
And anyway it's got nothing to do with a property boom.'


"the Standard Chartered Banker, have no balls to say "but.....you are the father!"... ha ha ha ha
 

Watchman

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Till now, not a single Sinkie sheep can cite me at least one example of Harry Lee's contribution to Sinkieland's relative success. :rolleyes:

Minister Mentor Lee Kuan Yew said yesterday.
The sharp price rises that have been seen are 'part of the
total liquidity in the whole world system
', said Mr Lee,
noting that interest rates are low, and foreigners still
see properties as affordable. 'Even if we cap our excess,
people in Hong Kong, Indonesia, will say, compared to
what I have to pay, Singapore is cheap, let's buy it,'
he added. 'And apart from landed properties, they can
buy into any condos.'



If that is the case having free trade is rather
detrimental to moving forward , inviting FTs
here is moving forward .


You restrict FTs from taking money out but not
stopping them taking money in . Either way
one is losing blood the other is taking in poison
.
Can't be that good having hot money all the
time flowing into Singapore .

It seems good initially pushing and jump-
starting properties . But you as the government
is suppressing pay here but allow a certain
degree of individuals with advantages of unknown
factors to compete with locals with lower pay .
What in effect you do is setting one set of laws
to suppress while allowing another set of laws to
close all eyes to geopolitical considerations and
implications that might have further repercussions .

(Singaporeans turn down job applications in fact
is a manner of protesting and demanding higher pay )
Government open floodgates to FTs citing manpower
shortage and fear of overheating economy.
Gov defended itself it's jobs Singaporeans
do not want . Then foreign entities range from
all sectors not exclusively only in the service or
lower salary scale . You are introducing an
unknown factor that even your policy makers
cannot compute .

You are pushing us now .You will always take
the same whatever the outcome . Sufferers
are everyone working here with a bigger
stake . Do you think some day the rich might
just get away with everything .
This will come back to haunt you .
Just as your system is flawed .
It will come round to everyone .

Policy makers sit up and pay attention .

- Watchman
 

ps07857

Alfrescian
Loyal
the Indonesians or the Thais or the
Malaysian Chinese or the Filipino Chinese from coming
here and saying, 'Compared to what I have to pay in
my country, this is cheap'.'


Malaysia, Thai, Philippines homes more expensive than Singapore meh....

This statement is implying that Singapore is cheaper than the countries mentioned.... Isn't there something wrong with that?
 

tun_dr_m

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You still want to pay millions of dollars to this crappy LCB to hear his lame stupid lies like these?

:oIo::oIo::oIo::oIo:

Fucking LCB LKY:mad:
 

soikee

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Loyal
You still want to pay millions of dollars to this crappy LCB to hear his lame stupid lies like these?

:oIo::oIo::oIo::oIo:

Fucking LCB :mad:

LCB has personal interest in the property market cos he owns a 51,000 sq ft bungalow at Cluny Hill which is worth
over a hundred million Dollars in today's market besides a number of luxurious apartments around Orchard Rd.

Sure he cons and says market no bubble yet! Simply can't trust the old bastard!
 
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