Just as how a natural rate of unemployment (NAIRU) helps to keep inflation in check, I propone that Singapore actually needs a (loosely coined) natural rate of oversupply to keep long-run public housing price-increases sustainable.
Remnants of the 2008 Singapore F1 Grand Prix; night race on the Marina Bay Street Circuit.
Singapore Formula 1 Grand Prix Videos along Marina Bay
Venue: Singapore Central Business District
Type: Night Race
What an amazing view I had from Ritz Carlton! I could see 6 turns on the track from where I was. Also managed to catch Piguet smash into the barrier and a “Red Bull” over-shooting into the excess area twice. I did miss the crash-out at one of the turns though as it was blocked by the grand stand area.
There was 2 favorite spots for me; the long stretch along Marina Bay and the “S” bend under the ECP. The long straight demonstrated not only the F1 vehicles’ astounding speed but also their insane braking ability! The “S” bend was really a spectacle of impeded clump manoeuvring for me.
Without ado, a video of the “S” bend at Turns 20 & 21:
This one shows Turns 16, 18, 19, 20 & 21: