$$ merry go round
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They pay u to work, They ask u to buy HDB flat, u pay them then the money goes back to them. They take from u, then give u back some and then take it from u again. Happens until u die
Ist this what is happening? What do call this? a type scheme *dunno the name for it* -
it's how the "economy" works...
it's the same everywhere in the world...
the velocity of $$ is calculated by how fast the $$ moves...
of course it's totally flawed but it hasn't stopped the world from worshipping and using it as a principle to run the world with.. -
vicious cycle of poverty happens to me instead
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hold on a sec, this happens not in all countries. When u buy a house in AuZ or US, the house belongs to u permannetly right? But the house originally built by some contractor wh already earned the profit and later u happen to sell it u earn profit too...Originally posted by the Bear:it's how the "economy" works...
it's the same everywhere in the world...
the velocity of $$ is calculated by how fast the $$ moves...
of course it's totally flawed but it hasn't stopped the world from worshipping and using it as a principle to run the world with..
But here? diff story... -
The house is mortgage, then I pay installments every month till I clear the mortgage, until then the house doesn't belong to me.Originally posted by Fiorina Fury 161:hold on a sec, this happens not in all countries. When u buy a house in AuZ or US, the house belongs to u permannetly right? But the house originally built by some contractor wh already earned the profit and later u happen to sell it u earn profit too...
But here? diff story...
So, its pretty much the same thing if cpf deduct monthly to pay for the flat. -
I know what you all are trying to imply so you all got a better alternative suggestion?
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There are still taxes....it's a closed loop cycle. Which is why savings is frowned upon...Originally posted by Fiorina Fury 161:hold on a sec, this happens not in all countries. When u buy a house in AuZ or US, the house belongs to u permannetly right? But the house originally built by some contractor wh already earned the profit and later u happen to sell it u earn profit too...
But here? diff story...
Btw, believe the house in US and AUS IS owned by you, but the land is still owned by the GOVT.
Suppose its how you view it.