Our Youths May Never Retire
Think about how many years, our youths must work to pay off their housing and car loans if they don't get financial support from their parents. This is the reality and accepted by our seniors today; many are helping their kids with downpayments and even wedding expenses.
With our self-inflicted, ever-rising cost-of-living, our purchasing power is a shrinking piece of pie every year. While the seniors have it hedged with their residential properties, retirement will be less affordable for our youths.
Many will be living hand-to-mouth, month-to-month because of their debts due to asset ownership. Many will be working till they die, be it part-time or full-time.
Ok, let's say they avoided home ownership and look at the huge cost of retirement facilities, who can afford to get old in Singapore without owning a home?