4 ms·
> I call real estate the "evil sponge." There is a reason that successful, fast-developing nations such as Singapore have enacted tight controls over the abili
by rodgerd 12y ago
> I call real estate the "evil sponge."
There is a reason that successful, fast-developing nations such as Singapore have enacted tight controls over the ability of a zero-value-add rentier class to extract all the value from a growing economy.
- jpatokal 12y agoHave you seen Singapore real estate prices lately? The same 2-br condo (Parc Vista @ Boon Lay, never a particularl desirable location to begin with) I used to rent for $1000/mo back in ~2005 is going for ~$3500/mo now, the building hasn't gotten any newer in the meantime, and this is actually a bit cheaper than it was two years ago.