As we know PRs are allowed to purchase resale flats and sell it without any restrictions. The classic age old ponzi scheme rears its ugly head again .This is how this scheme may work
A PR purchases a resale flat, after some time sells it to another PR , who pays a higher price , the original seller then returns to his country to enjoy the profits. the 2nd buyer then sells it to the third for even higher price , and then returns to his country, the ponzi scheme goes on and on and on. none of them will have to slog 30 years to pay back mortgage loan and yet still reap profits
I cant believe they are so dumb not to even see it. This is the big problem with HDB's market pricing strategy for all locals and PRs.
one way to curb this is to offer cost price approach for locals and market pricing for PRs.
its a win-win situation for all, both HDB , PRs and locals
A Ponzi scheme is a fraudulent investment operation that pays returns to separate investors from their own money or money paid by subsequent investors, rather than from any actual profit earned. The Ponzi scheme usually entices new investors by offering returns other investments cannot guarantee, in the form of short-term returns that are either abnormally high or unusually consistent. The perpetuation of the returns that a Ponzi scheme advertises and pays requires an ever-increasing flow of money from investors to keep the scheme going.
yo bro, while i dislike all those prc face people as much as you do, you have completely missed the definition of a ponzi scheme when you apply it to the resale HDB case
PS fark off from singapore all you prc face people, especially jet li and gong li
i dont need you prc face people to take my jobs and fark my women
Classic Ponzi scheme? I think you need to read up on it.
PR sells to PR sells to PR, and each of them sells it for a profit, and don't need to pay loans. because they all buy it in cash, and don't need to pay loans?
They can also sell to sporean right?
Thus makeing resale flats so expensive.