I just hope that the government will impose higher tax on RPGT. 30-50% to reduce the speculation. MOre & more ppl are finding it hard to purchase a house to live in.

What I'm saying is that there should be some control from the government to stop the housing prices from increasing exponentially. Spending & creating more debt is not the answer to have more growth or to stimulate the economic. Look at what happen with the substantial in housing speculation in the US. housing prices rises until the bubble burst.

My point is house is a need, shelter is a basic human need. Imagine our basic staple food is subjected to speculation - rice, sugar, flour........ Government need to put more measure to stop the speculation. Government is not to facilitate the profit of companies or individuals, it is to protect & make sure the citizens needs are taken care of.

Then don buy the 500k house, buy only the lower price house. I'm all against the easier credit available. It has it precedence over at other country. It may not encourage the investor, but it will make alot of houses more affordable. I'm not against investing in property, but it should not speculate on houses. It is a simple concept of supply & demand. If we make it less profitable to speculate then we will cut down on the demand & subsequently cut down on the cost as demand is less then supply.

Growth & trade should not be artificially stimulated. It should be on the basis of pure products & services being created, not just profiting by just speculating without any real end product. The house remains the house from start to end, but the "price" has been artificially prop up without any real value being added.

---

Added on October 26, 2009, 2:08 pmI'm trying to say tax more on those guys just making profit on speculating.

The poorer gets poorer, any the rich speculate more & more. A genuine government should include morally in its policy, but alas, most of the policy have interest of certain sections of ppl.

---

Added on October 26, 2009, 2:15 pmThink is that you only have to pay tax when you are selling property at a gain.

This post has been edited by zzzz52: Oct 26 2009, 02:15 PM

I agree will the notion of prices that will appreciate over time because our monetary system makes them so. We live in a world of free trade & interest bearing credit. We cannot change this individually unless we are at the top of the system but maybe we will not change it when we are at that position.

To protect our asset value, we try to keep our yearly gains/returns from our investment above inflation.

What i'm saying is that governments are there for a purpose. While not inhibit trade & growth, it should be control & regulated. There is no where in this world where there exist total capitalism.

I'm trying to say is that this situation of perpetual growth to sustain the whole economy is bound to collapse inevitably. We do not want to come to a stage where there will be wide spread poverty because of the prices hit a critical turning point where is will bust. Then jobs will be lost & foreclosure will be rampant, ppl lose there home which they are not able to afford because they bought the houses at expensive prices initially cause all there is are expensive houses.

---

Added on October 26, 2009, 3:19 pmThat is the false assumption that we are made to believe. Affordability is not only dependable on credit, there are many factors involved.


This post has been edited by zzzz52: Oct 26 2009, 03:19 PM

It is the exploitation of the system if the rich gets richer through morally questionable means. I'm all for the accumulation of wealth, he who hasvest what he sow.

I'm against the fact that money is make from all the loans that are interest bearing. Profits derived from interest without the actual productive work are illegal, and we say that we are a country with Islamic values. This makes speculation also illegal.

But all said, everyone is entitled to their own views, he who live live through it only will know the pains.

Can be said that it doesn't have much impact from this RPGT. Business as usual. Go Go Go.