Just got back to sg for my sabbatical and observed a few things.
COE $80k - A jap/korean car for $120? Seow bo?!
Asset prices gone up - Singaporeans like me born 70s/80s will eventually end up rich cos they buy their own roof and when their parents see kiao kiao, they inherit. Children suffer though cos of sky high HDB prices unless none. Can also migrate when old and cash out the property.
Many driving nice cars, how many actually in debt? Me thinks huge %. Buy a car loan 7-10 years, then pay finish so much money and then? Scrap the car. Silly right? Some of these car prices can buy 2-3 cars of the same type outside our shores!
Pay CPF 20% of income and end up? All CPF has to do is tweak some rules here and there and there you have it - "more money for retirement" because they let you have it later.
And drove back from Orchard at around 530pm and plied the CTE. Damn stupid ya, pay ERP so that sgporeans can go back home to makan dinner. Wah lau, sgporeans pay and pay la!
I suddenly remembered very strongly why I migrated.
Another thing I observed, in the past, discrepancy in society was greater. Now the gap is closer or rather, has been bridged because sons of parents in so called "lower professions" are now university graduates and holding good jobs. We are talking about the 70-80ers.
This generation can still get by with dual income. Come their children's generation, they will be squashed by HDB prices because their salaries would not have matched up.
Truly agreed with you that the property prices in Singapore are on the rise and the cost of living is going to be a major concern for the forthcoming generations. However, we need to do as much possible as we can for our generation to come. I would say that we need to secure the future of our kids by saving money and investing it in fixed deposits, properties etc. I have purchased an hdb flat as an investment purpose and also, let it out for rent to earn extra. I would suggest that one should make as much investments as possible for the betterment of future.