WHEN National Development Minister Mah Bow Tan warned against property speculation recently, many – especially those in the real estate business – thought he was being a party pooper coming in to spoil the fun.
He had said: “Some of the practices and habits that you saw in the last property boom are beginning to come back, so I think we’ll have to be careful.”
The note of caution was appropriate and timely, given that we are still in the midst of a recession and headed for negative growth at year’s end, despite the strong comeback of the stock and property markets. And look at how crowds continue to throng showflats, sometimes days ahead of the launch.
Greed is back. Continue reading
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