I'd like to add to Madmansg frequent ranting: " NS is killing sporeans"
HIGH bubble high Property prices are also killing sporeans and spore. How?:
- so high that all CPF wiped out, hence asset rich cash poor. No $$ to retire so must work till death
- so high that no one can afford to marry until enough cash for down payment --> more marrying late
- so high that no one can afford more than 1 kid --> low birth rate --> need china immigrants to make up population
- so high that all good and services over-priced cos must pay rent -> poor value for money compared to malaysia, thailand, hongkong
- so high that we can't accept low wages which makes our workers uncompetitive compared to foreign workers from india and china
- so high that a huge chunk of our salary goes to paying interest on loans with little left over for domestic spending --> a poor domestic economy --> more vulnerable to external downturns
many more
etc....
HIGH bubble high Property prices are also killing sporeans and spore. How?:
- so high that all CPF wiped out, hence asset rich cash poor. No $$ to retire so must work till death
- so high that no one can afford to marry until enough cash for down payment --> more marrying late
- so high that no one can afford more than 1 kid --> low birth rate --> need china immigrants to make up population
- so high that all good and services over-priced cos must pay rent -> poor value for money compared to malaysia, thailand, hongkong
- so high that we can't accept low wages which makes our workers uncompetitive compared to foreign workers from india and china
- so high that a huge chunk of our salary goes to paying interest on loans with little left over for domestic spending --> a poor domestic economy --> more vulnerable to external downturns
many more
etc....
