Its an alarming trend for new home buyers, but the tills are ringing, and HDB upgraders are rubbing their palms with glee. Not a sight which the government wants to see. But we must realise that Singapore’s population is increasing and not decreasing. Our birthrate may be dropping, but we’ve got more and more expats, converting their PR statuses to citizenship. And a very valid reason – to benefit from childcare and childsupport tax benefits, and of course the subsidized public housing (that doesn’t look one bit like public housing).

Our public housing project in Singapore has received kudos and awards, and architects around the world have applauded us in being able to build public housing for our citizens that are seriously out of this world! And anything that has been given such a label does come with a price. The price of which has been heading skywards recently and does not seem to loose any forward momentum.

According to The Business Times, which reported that “The median Cash-Over-Valuation (COV) amount among all resale flat transactions jumped to $12,000 in Q3 2009 – from a median COV of $3,000 in Q2 this year.”

Perhaps the MND would soon rein in this runaway lamb that refuses to comply. MND could let loose the herding dogs that snap and nip at the legs of the lambs and sheep. That would be a sight to behold.