Mr Thomas Ling: 'With many retiring citizens having little Central Provident Fund (CPF) monies left, is it any wonder they should zealously protect their last assets?'Someone wrote in state controlled paper that many old folks have little retirement funds(cpf) thus these aged folks don't want eldercare facilities near where they live for fear of depreciating their pigeon hole dwellings.
Aging process cannot be stop as of now. Property market will still collapse when tsunami wave of old folks selling to pay medical bills & living expenses. It is a demographic timebomb made worse by the Stop-at-2 birth control policies by the paramount leader. Importing immigrants won't solve the problem- Warren Buffett said you don't get a baby in 1mth by getting 9 women pregnant.
Don't expect any sustainable boom when so much of the population are in debt up to their eyeballs. Can't force the retiring baby boomers to spend spend spend to drive this unsustainble consumer driven economic model.
Baby boomers spend spend spend in productive years --> boom boom boom
Baby boomers cut cut cut in retiring years --> bust bust bust