America can learn and thing or two from Singapore. They want to maintain a housing market that is affordable to their citizens. Where are we?, with foreigners coming to America with foreign money and purchasing American assets such as real estate, and then taking majority of the financial gain is going back to their country. Bettering their systems, technology, education, infrastructure, people as a whole and making us competitively challenged. America are we setting up to lose our assets slowly and from right under our nose?

“We twice attempted to cool the property market, once last year and once in February this year, but the prices are still rising,” Lee said in a televised speech. “Our purpose is to make sure in the long term, Singaporeans can own their homes and afford it and it will be a gradually appreciating asset which will grow as Singapore grows.”

http://www.businessweek.com/news/2010-08-30/singapore-tightens-mortgages-to-cool-property-market.html