My sentiments. There is 2 immediate actions that can correct the imbalance immediately. But will stir up unhappiness among those who paid HIGH COV for their resale, and those who paid alot for their BTO, which I am 1 of them.
When I book my 4-rm 91sqm BTO flat, I thought I'm paying alot at 270K for a high floor unit, 10-15mins walking to mrt. Now , the prices are crazy,but they are flashing stats that its still within 30% of median household income, in line with global stats.
1. Revert back to cost plus pricing strategy for BTO flats,instead of the mkt price minus.
2. Make COV illegal.
Resale prices will crash,we will see a repeat of 1991 issue.
But none of the above will happen during my lifetime I guess.