The horrendous gap between elites & peasants can be seen in the example of a pigeonhole condo in West Coast(Clementi West).
$1.22 million (starting)
Regime manipulate land price until high, high.
Developer buy land at high, high & sell even higher.
Which peasant can afford a minimum of S$1.22 million for that dwelling? - that's absolute madness. The condo & others like it on this tiny island is more to cater to hot $$$ pouring in from foreign buyers like rich people from China who are looking to diversify their wealth outside China.
$1.22 million for a Small Office Home Office(SOHO) is absurd if one can work remotely. Might as well buy a beach house with good internet connection in Thailand or Malaysia at a fraction of the cost. Why work from Seahill overlooking the 24 hour container port?
Overcrowding on buses made it difficult for the sick to get to the hospital. Taxi fares are expensive. Thus a community bus service to the nearest hospital(NUH) is introduced. I guess those sick peasants or family/relatives of sick have to go through 'screening' at the Community Centre(CC) before they qualify for the free ride.
The 2 pictures show the dismal wealth inequality in S'pore. Social fabric & stability is increasingly at risk.
Local peasants who throw their $$$ away by buying the grossly overpriced condo is very dumb if their intention is to look high class.
In Thomas Stanley's classic book 'The Millionaire Next Door' on millionaires in USA, his research has shown that the majority of self-made millionaires won't buy these type of overpriced housing. They detest being a slave to a massive mortgage.
Given the $1.22 million price tag, those millionaires mindset if they have that amount would be to buy a $450,000 home & have $770,000 remain.
Invest $770,000 in a stock market index with 5% dividend yield which is achievable during recessions & one would be financially free. They'll be doing work they want to, not because they have to.
Annual = $38,500
Monthly = $3208
Why be so stupid throw $$$ away in overpriced housing when being financially free is so much more enjoyable?
"Social fabric & stability is increasingly at risk."
ReplyDeleteXianlong
Isn't it already at risk even before 2011?
Yet PAP could still win 60% votes in GE 2011 !!
And is the PAP now, although maybe still not good lah, any worse than the PAP of 2011?
You seem to be the same person with earlier comments in other posts about 60% voting PAP despite signs of more rot. As i've replied elsewhere, many of them are daft.
DeleteIs made worse when many are conditioned to become sheep through the schooling process & NS.