Private developers are now worried about over-supply

SINGAPORE: The Real Estate Developers' Association of Singapore (REDAS) has raised concerns over a potential oversupply of private homes in the near term, especially with the uncertain global outlook.

It is urging the government to review its land sales programme to ensure that new supply is introduced only when the market is confident of absorbing it.

With the possibility of demand for private homes dropping due to an economic downturn, developers are pointing to the need to rein in supply.

http://www.channelnewsasia.com/stories/singaporebusinessnews/view/1152072/1/.html

Complex challenge facing world economy

MARSEILLE, France - G7 rich nations vowed tough measures Friday to get the global economy back on track but were short on detail and admitted the problems were so complex that a unified response was impossible.
http://www.channelnewsasia.com/stories/afp_world_business/view/1152211/1/.html

Conclusion - the world has to go through a very hard time. The US is trying a new stimulus package, but the American Jobs Act may not get the support of divided Congress. The European countries are not implementing any stimulus package.