<TABLE border=0 cellSpacing=0 cellPadding=0 width="100%"><TBODY><TR>Act to curb current hype in property market
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<!-- START OF : div id="storytext"--><DIV class=story_text><!-- more than 4 paragraphs -->THE property market is now being hyped up to the point where a good minority are goaded into panic over escalating prices. There is also a play on phantom sales and resales advertised at exaggerated prices.
What is required now is a law that clearly prohibits sub-sales until legal completion. Another way is to remove deferred payment altogether. A third is to bar developers from marketing before at least 33 per cent of the works are completed and increase the down payment to at least 20 per cent.
A further means is to control developers and property agents. This will remove the current hype in the market and soften a sub-prime crisis, which seems imminent.
In the current scenario, a meltdown can be softened only with regulatory measures. Capital gains tax is not an effective instrument, though it would have some minor impact.
K. Rajagopalan
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Your new property will probably go to the Laylong market....
No need to act now... Just watch the magic show 2010..
</TD></TR><TR><TD style="VERTICAL-ALIGN: top" align=left>Posted by: madhouse at Sat Jul 11 06:01:51 SGT 2009
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</TR><!-- headline one : end --><!-- show image if available --></TBODY></TABLE>
<!-- START OF : div id="storytext"--><DIV class=story_text><!-- more than 4 paragraphs -->THE property market is now being hyped up to the point where a good minority are goaded into panic over escalating prices. There is also a play on phantom sales and resales advertised at exaggerated prices.
What is required now is a law that clearly prohibits sub-sales until legal completion. Another way is to remove deferred payment altogether. A third is to bar developers from marketing before at least 33 per cent of the works are completed and increase the down payment to at least 20 per cent.
A further means is to control developers and property agents. This will remove the current hype in the market and soften a sub-prime crisis, which seems imminent.
In the current scenario, a meltdown can be softened only with regulatory measures. Capital gains tax is not an effective instrument, though it would have some minor impact.
K. Rajagopalan
<!-- end of for each --><!-- Current Ratings : start --><!-- Current Ratings : end --><!-- vbbintegration : start --><DIV class=vclear><!---vbbTime (Thread ID: 22124) - Start : Sat, 11 Jul 2009 06:00:10:159---><SCRIPT language=javascript>function readCookieVbb() { var errorString = getURLParam("error"); user=getCookie("HTTP_user_id") luser="" if (user!=null) { luser=user.toLowerCase() if (luser == "anonymous" || luser == "anonymous|anonymous") { window.location= p_logoutLink; } } if(user != null && user !=0 && luser!=null && luser != "anonymous" && luser != "anonymous|anonymous") { document.writeln("<table border='0' width='100%' cellspacing='0' id='story_comments' style='display:none'>") document.writeln("<tr id='comments_body' style='display:none'><td colspan='2'>") document.writeln("<table border='0' width='100%' cellspacing='0'>") document.writeln(" <tr ><td class='heading'>Latest comments</td></tr>") document.writeln(" <tr><td id='messageDisplayRegion' width='100%'></td></tr>") document.writeln(" <tr><td align='right'>» Offensive? Unsuitable? Report comment
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Your new property will probably go to the Laylong market....
No need to act now... Just watch the magic show 2010..
</TD></TR><TR><TD style="VERTICAL-ALIGN: top" align=left>Posted by: madhouse at Sat Jul 11 06:01:51 SGT 2009
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