An Application of Basic Economics Concepts to Home Ownership in the Singapore Property Market

Using the following The Straits Times articles as a starting point show how the economics concepts can be applied to a contemporary economics issue.

A house for the millennial: Home prices a hot button issue for millennial voters

https://www.straitstimes.com/asia/millennial-housing-property-election-issue-singapore

HDB resale prices rise for 22nd straight month; Pinnacle 4-room flat sells for record $1.228m

https://www.straitstimes.com/singapore/housing/hdb-resale-prices-rise-for-22nd-straight-month-pinnacle-4-room-flat-sells-for-record-1228m

Property cooling measures to reduce risk of the self-reinforcing cycle of price increases: Desmond Lee

https://www.straitstimes.com/business/property/property-cooling-measures-to-reduce-risk-of-self-reinforcing-cycle-of-price

Please use appropriate economics concepts from the Demand and Supply Analysis and Consumer Choice Theory, with appropriate diagrams to support your analysis and discussion of the Singapore Property Market.

Also,, how to use the appropriate diagrams to support your analysis and discussion of the Singapore Property Market?

GENERAL REQUIREMENTS:

Develop logical and coherent responses to the issues raised above. The opinions or decisions that are presented should be supported by references to appropriate texts, articles, websites, and current economic practices. It is recommended that at least five (5) more articles be reviewed.