With property prices correcting, it is time for the cooling measures to lifted? And do you know how much your home is worth?
Are Cooling Measures Obsolete?
Lets further assume that no bank would jeopardize its business and incur the wrath of the Monetary Authority of Singapore (MAS) by lending money to credit-suspect borrowers who are buying overvalued property. If we take these assumptions as valid, then why in the world did the property market reach a point at which cooling measures have cost us $ 21 billion in lost market valueand counting? When participants have insufficient information to make pricing decisions, markets fail. Read more…
Image from SRX.com.sg