A healthy property market generally reflects a strong, well-performing economy. But when markets become excessively bullish, there can be a number of negative economic consequences, leading to pressure on policymakers to step in with cooling measures.
One effect that has not received much attention is the impact property price booms have on labour supply, in particular, whether individuals put in less effort at work and the repercussions for productivity.
Already a subscriber? Log in
Read the full story and more at $9.90/month
Get exclusive reports and insights with more than 500 subscriber-only articles every month
ST One Digital
$9.90/month
No contract
ST app access on 1 mobile device
Unlock these benefits
All subscriber-only content on ST app and straitstimes.com
Easy access any time via ST app on 1 mobile device
E-paper with 2-week archive so you won't miss out on content that matters to you