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Apr 27, 2011
Asset enhancement affects future generations too
MADAM Shirley Chng cautions against pegging new flat prices to median income ("WP's plan leaves home owners vulnerable"; last Thursday).
She says it might seriously affect those who are forced to sell their flats for which they paid a lot.
Madam Chng says that the only group we should be concerned with are first-time buyers with no existing flats. On that basis, she concludes that lowering HDB prices across the board is unwarranted. She seems to think that such first-time buyers form only the minority. However, sky-high property prices will affect not only first-time buyers now but also all future first-time buyers. What members of the existing home-owning generation enjoy now, their children and children's children will end up paying for.
Ng Kok Lim
http://www.straitstimes.com/STForum/OnlineStory/STIStory_661467.html
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This post is succeeded by:
29Apr2011: What WP should have advocated for housing
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