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Jan 17, 2010

Are foreigners to blame?

<!-- by line --> By Jeremy Au Yong
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The Law Minister's key message: It is unfair to cast foreigners as the villains driving up the prices of HDB flats. -- PHOTO: BT

I agree! The ones behind this policy are to be blamed!

<!-- story content : start --> MIDWAY through an hour-long dialogue with Law Minister K. Shanmugam on Sunday, 58-year-old Wee Kai Fatt stood up and gave voice to the claims of many coffeeshop pundits here. The senior engineer complained about the foreigner-fuelled population boom, saying he was shocked when he heard there were five million people living in Singapore. This influx of foreigners, he added, has caused HDB home prices to skyrocket. Taking it all in, Mr Shanmugam took pains to clarify what he said were several misconceptions in Mr Wee's statement. The Law Minister's key message: It is unfair to cast foreigners as the villains driving up the prices of HDB flats. Speaking at the end of his three-hour visit to Yew Tee constituency in Hong Kah GRC, he said: 'The first misconception is that somehow there are five million people and that's putting pressure on all of us. It doesn't.' Of the five million, 3.2 million are citizens and roughly 500,000 are permanent residents (PRs). The remaining 1.3 million are here on temporary work permits and they 'impose no burden' on the public housing system, said Mr Shanmugam, who is also the Second Home Affairs Minister.

Read the full report in Monday's edition of The Straits Times.

 

[gone4good]

idiot minister giving substandard reply. common sense will tell you that the so called 1.3 millions on work permit will need to have a roof over their head. Although they are not buying HDB units, the facts that they are creating a supply in rental will ultimately force up the selling price. When rental demand out-strip supply, rental will goes up. When renting become expensive, the selling price of HDB unit will obviously goes up. Isn't that what is happening now. Even an 'O' Level or 'A' level student can understand this simple theory and our multi billion govt cannot comprehend it.

 

[Ah Guan]

If it's not the foreigners' fault then it must be HDB's fault

 

[cockcansing]

Definately HDB fault! If had read a thread a few days ago stating that the HDB had reduced the units over the years and therefore pushing up the prices to the current state where affordability is a serious question!

 

[ahleebabasingaporethief]

idiot minister giving substandard reply. common sense will tell you that the so called 1.3 millions on work permit will need to have a roof over their head. Although they are not buying HDB units, the facts that they are creating a supply in rental will ultimately force up the selling price. When rental demand out-strip supply, rental will goes up. When renting become expensive, the selling price of HDB unit will obviously goes up. Isn't that what is happening now. Even an 'O' Level or 'A' level student can understand this simple theory and our multi billion govt cannot comprehend it.

For some reason only known to GOD, all these chappies like him are very intelligent.....UNTIL they join the SCUMS.

Then they become really stupid and give really stupid answers for everything.
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[Ah Guan]

Definately HDB fault! If had read a thread a few days ago stating that the HDB had reduced the units over the years and therefore pushing up the prices to the current state where affordability is a serious question!

So Mah Bow Tan should pass the blame to who now?

 

[cockcansing]

Ask the tai chi master himself.