Reagan was a great president. He knew how stupid majority of the middle class people were to believe in trickle down economy. So we should have a flourishing middle class after more than 20 years.
How can the sales of real estate rise as the same time, the rate of home ownership is falling? It can only mean that the rich is buying up the house to rent to middle class to squeeze more money from the middle class. Another example of rich squeezing more milk from the rest of the population. It is time to tax them at the equal rate as the middle class.
Oh, and Wong, let's limit the number of properties that the foreigners can purchase.