One moment the property market was "stirred" up, the next....

One moment the govt. stirred up an artificial demand and brought the prices
rocket high leaving a false image for those local buyers who are genuinely
looking for a home to settle for some. After a year or so, they could no
longer hold and the bubble burst and these new poor "owners" have to scout
around for additional funds to meet their bank's demand to top up their loan
collateral. In the end, mainly the land owner (government) who leased out
the land for 99 years collected most of the money.

http://business.asiaone.com/Business/My%2BMoney/Property/Story/A1Story20080426-61963.html


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