Bro God is my dog,
Please be advised that this "Greatest Depression" is quite isolated in the following sector only, USA & EUROPE ONLY, it's quite isolated.
The rest of the world will still have growth, especially in areas like CHINA, INDIA, INDONESIA, ASEAN... which some market analyst call it CHINDONESIA... this region will continue to enjoy growth, and the middle class demographics are growing the fastest in these region.
So, in SGP, there shouldn't be any sort of GREATEST DEPRESSION, as the fundamentals are sound, and there will be a lot of work to support SGP's surrounding nations.
What I see is that, there will be more and more PRC being imported, and born and bred Singapore Citizens will just dwindle in numbers, as the fertility rate is going down, and cost of living is rising sky high.
Actually this kind of thing happening in Singapore is not Uniquely Singapore... in the following countries like South Korea, Taiwan, Hong Kong are also facing similar issues of high property prices, high cost of living, low fertility rates, and low marriage rates, and from observation, it appears to me that it got to do with higher expectations of the men and women... in fact this sort of things are also happening in China... Urbanization causes low fertility rates.