31 Dec '15, 11am

Tan Kin Lian's Blog: Bust of property bubble

These 'rich foreigners'/'FT' come and go. When they are asked a question: "Will you stay and retire as a Singapore Citizen here?" A big majority of them will shock you with their wry answers: "What for!" Do you think that our government policy of welcoming them with a big heart will 'one day' pose a huge potential risk to us/the locals when they decide to bid us 'good bye' and 'good luck'. What kind of safeguards we have? Do we make a good calculation? Will our elected government be willing to bail us out from the collapse of property market? Or just issue a standard statement: "You take full responsibility for your own decision." or "It's a market force at work". In fact, Singapore had experienced once such a property slum which was to some extent resulted from one of these factors of rich foreigners' buying spree in the late 1990 and the early 2000. History always repeat...

Full article: http://tankinlian.blogspot.com/2010/08/bust-of-property-b...

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