Prices of houses , Many, many years ago, my father bought our house. He bought it after working for nearly 20 years. The house then cost RM 36,000. I remember my parents lamenting how expensive the houses were and that they would be in debt for many years. They WERE IN DEBT FOR MANY MANY YEARS and had to forego many things as a result. . . About 15 years ago, I bought my first house. It cost me RM 250,000 (8 times more than my parents house). My wife and I lamented how expensive houses were and we would be in debt for many years. We were in debt for many years but we worked hard to pay back the bank as soon as we could. . . Today, not surprisingly, people are still lamenting that houses are expensive. They blame the government, they blame the opposition, they blame the developers, they blame the foreigners, they blame the Singaporeans, they blame the Jews, they blame the dog, they blame everyone (except themselves, of course) . . The price of houses is NOT going to come down. Scarcity of land, inflation and rising demand for property mean that prices will continue rising. There is really not much the government can do. The govt can allow higher plot ratios - allowing taller buildings. It can try to curb speculation. It can provide subsidies (but then subsidy is not really a good idea - it will create other problems). In the long-run, market forces will dictate prices - and prices will keep rising. . . Our forefathers faced the problems. Our parents faced the problem. We face the problem. Our children and their children and their children will face the same problem. It is the same all over the world. . . Plan carefully for your house purchase. Do your homework - research about neighbourhoods, property prices and financing options. Do your homework. Be prudent. . Yes, it will be difficult but NOT as difficult it was for our forefathers and our parents. .
Posted on: Fri, 17 Oct 2014 06:57:25 +0000
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