Oct
18

Singapore showing the way to curb housing bubble?

No idea how true this article is as i still have many good friends in Singapore whom are struggling to survive. 

Singapore, the city-state that banned chewing gum to curb litter, is showing the rest of Asia how to cool a housing bubble. The government this year ramped up efforts to bring down property prices that surged to a record, adopting some of its strictest measures, including a cap on debt at 60 percent of a borrower’s income, higher stamp duties on home purchases and an increase in real-estate taxes. The combination and timing of the curbs is the most comprehensive among governments battling housing bubbles, according to Vishnu Varathan, an economist at Mizuho Bank Ltd. The curbs are proving more successful than in Hong Kong and China where policy makers have experimented with a variety of initiatives to temper soaring housing markets. Home prices in Singapore have gained 33 percent since 2009, while they have more than doubled in Hong Kong in the period.

ᔥhttp://sg.finance.yahoo.com/news/singapore-shows-asia-crack-down-091400732.html

 

On the other hand, saw a rather interesting article here: http://www.24hrsingaporeplumber.com/plumber-blog/exploding-toilet-bowl/

hope no one gets into such problems and injuries