[stephenkhoo]

I think you read about it in the local news and how MAS has given its stand. I can only say our local banks are well capitalised with strong balance sheet and we have budget surplus with good governance so even if the notion of real estate bubble due to the recent run from 2010 this will be better managed after the many dips in the past namely 85 pan el saga, 90 gulf war, 97 asian crisis and dot come bust following 2002 2003 sars and of course you could see evidently after the 08 crisis the property market was basically resilient and rebounded strongly for all segement be it lease or freehold. As market is flushed with liquidity and growing affluence the demand for homes will always be warranted with pple seeking better quality of life. Maybe there will be such a scenario but it will not be icelandic because if you live and breathe the air in sg you know it is uniquely singapore and the government has all the mechanism to combat.

http://www.forbes.com/sites/jessecolombo...e-meltdown

You can read more about Iceland meltdown by reading this book

Boomerang_ Travels in the New Third World - Michael D. Lewis

I like this book very much, it is easy to read without technicals and I have the ecopy. I can share it with you if you like