Lately, there were media reports every other week on a new condo launched with a bang. On the other hand, a check on URA monthly data on sales by developers also reveals the fact that the number of returned units from buyers is on the rise. What are returned units to developers? Returned units are new units of uncompleted projects. Homebuyers have already placed a deposit. But in the next and subsequent months, they are given up and returned to the developers. You can check other new projects that present the same puzzle to consumers to solve at the URA website under “Prices of Private Residential Units Sold By Developers”. Compare the sales figures of any new project month by month. Calculate the difference between the project’s “cumulative units sold this month” and “reported units sold this month”. Any discrepancy between this number and the cumulative units sold in the...