Housing insanity needs attentionBy James Lee 李牮斯“Insanity is doing the same thing over and over again and expecting different results.”This popular quote is often attributed to Albert Einstein. To get to the root of the problem, we must ask what drives the insatiable demand for properties. “Owning property is saving wealth” would be a more accurate translation for most Taiwanese house seekers. When people purchase properties to save wealth (not to speculate), they typically do not intend to sell in the foreseeable future. Ordinary Taiwanese need policy guidance to channel their life savings into existing pure-use SoVs that have few real-world applications, such as gold and bitcoin.

Source: Taipei Times July 08, 2021 16:07 UTC