Property prices: Should the government intervene?
I am a property owner and have suffered considerable losses since the downturn in the property market, and I appreciate the government's intention to ease the pain.
However, it must be extremely careful not to move in the wrong direction.
First, officials must think carefully about what is wrong with the economy and why property prices are so low and why so many howeowners suffer from negative equity.
It is this problem of negative equity that officials should be trying to solve.
This is different from falling prices of new flats which developers want to sell. Although they are linked, these are two separate issues.
If the government intervenes, but its strategy is incorrect, then the only group of people who might benefit could be the developers.
The strategy should be geared to helping individual property owners.
LEE YAT-SAU
Cha Kwo Ling
