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Originally Posted by chinthee  ^Milkman, this is not fun to watch. Many of our families are affected. |
I have difficulty in understanding why the crash is a bad thing.
What has passed is one of the biggest pyramid selling scams to hit since the dot.com fiasco and the bursting of the pus ridden bubble is particularly welcome to the next generation of property buyers who now are not required to mortgage themselves to the hilt in order to provide for a basic need. Disposible income is thus released into the economy and eventually the whole cycle will repeat itself although the profligate and reckless lending by irresponsible banks should be a thing of the past.
The casualties of the scam have only themselves to blame but should at least benefit from their experience to the extent that even the stupidest of them now realises the trees don't grow all the way to the sky.