What is The Singapore Pravda trying to tell us? that the PAP should stop building new flats? that the cooling measures are working?
The fact remains that the PAP has not built enough HDB (10x less than population increase) in order to prevent a collapse of the local banks (up till their eyes in bad loans)
Of course if you had to choose for a flat that you know is only be available in 5 years you would be careful
However the two projects at Yishun, featuring 1,548 flats ranging from 2-room to 5-room units, got 1.8 times as many applicants as there were flats on offer. The 2-room units were the only ones that were undersubscribed, with just 132 applicants for the 192 units available.