“We cannot be building new flats to cater to every last person who wants a new flat…because if you do that, then obviously you are over-building.”
National Development Minister Mah Bow Tan
Source: HDB to offer 8,000 flats (Straits Times, 9 July 2009)
So this means we should undersupply flat to keep prices sky-high?
Simple demand and supply that anyone who went through a introductory economics 101 class also can figure out. Demand is INELASTIC because HDB flat is the cheapest form of housing available to Singaporeans and everyone needs a roof over their head. If you trim the supply, prices naturally go up.
Technorati Tags: mah bow tan, national development minister mah bow tan, hdb, housing development board, hdb mission statement, singapore housing, overprice flat, expensive hdb flat, demand and supply, economics 101
French acoustic engineering specialist Devialet has partnered with the prestigious Roland Garros tournament to unveil…
Chick-fil-A Singapore is adding more variety to its beverage offerings with the launch of eight…
Decathlon Singapore has partnered with MetaSport to introduce a new flagship running event, The Kiprun…
Families looking for meaningful ways to spend the June school holidays can look forward to…
Football excitement is taking over NEX this season as the mall rolls out Score Big…
Wing Kai New Energy X QIJI Energy X C&D Hi-TechHONG KONG SAR - Media OutReach…
View Comments
exactly. and it's pretty much the same for everything else, say, erp. it seems that the solutions they come up with always cost us more money. makes you wonder (1) whose problems are those to begin with and (2) who the solutions are really meant for.