Mah Bow Tan said "he was 'caught off guard' by how the HDB resale market trended north in a recession year" during an interview with Mediacorp as reported in the Today paper. He added, "nobody, no matter how prescient, no matter how clever, would have been able to predict that this was what was going to happen."Should the people demand and expect the super talents, the best paid administrators and policy makers to say 'I don't know, I didn't see it coming?'
But one thing the minister knows for sure, the prices will keep going up. And that is because 'the current system is far superior to one that keeps housing cheap through a non market based system.' How did he know? Ah, it is the govt's policy, the way the system is set up and administered, that will dictate that prices must go up and not come down. No need to be prescient or clever to know this.
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