I agree with GreenOrb ('FIC unfurls welcome mat for foreigners', May 8) on the foolishness of allowing foreigners to freely buy property above RM250,000. In fact, I would go one step further in saying that the damage will likely not be limited to JB only.

For years now Singaporeans have been snapping up expensive property in Malacca and Penang. I've even heard rumours that some of these property were developed with them in mind. Now that 'open season' has been declared, what's to stop them from encroaching anywhere within range of their fancy cars?

But that's not my bone of contention in this matter. What I'm mad about is that this shortsightedness means I may have to wait yet another few years before I can get my own house!

See, the Foreign Investment Committee (FIC) says the ruling is to speed up the investment process in this country. It could also be because there is a glut of RM250k-plus houses. Well, whether they realise it or not, the FIC is feeding the whims of greedy developers.

Look, we all know why property developers would rather build homes in excess of RM250,000. Profits! An acre of development populated by million-ringgit bungalows is going to give far more returns than if it were filled with low-cost units.

How many developers have said as much in the newspapers? That's why they kept building those high-priced homes all these years.

Well, gee, boss, could that be why the glut existed in the first place? Because most people couldn't afford to buy those houses? The ones who can have already bought theirs (and a couple more besides), so the market's stagnated. I mean, hey, bumiputras like me, we can't afford these things, even at a discount!

Pardon my bluntness, but what we need are more of cheaper houses. You know, the ones that you can pay for each month without having to go on a strict diet of Maggi mee?

Understandably, developers have not quite been so forthcoming with such projects.

And now, thanks to the FIC, they no longer have an incentive to do so. Because now, thanks to the FIC, they can build as many RM250,000 houses they want, and the market will be there from across the Causeway!

I fear the FIC may have unwittingly treated the symptom, and not the cause. Golly gosh, thanks, guys. I really needed that there 'help'.