25 Oct '11, 12am

The affordability plea:

A stay at home mum, Cheryl Lee, wrote to the ST forum pleading to the govt to make housing more affordable. She is a graduate, a professional but is being forced to stay at home to look after children and work part time. She lamented the days when as a fresh graduate her starting salary was only $800. Though the salary of graduates has quadrupled, housing prices have gone up by at least 10 times. A 5 rm flat then was $35k but $450k today. Are we really better off? To her this is not affordable. To the govt it is, very affordable. It depends on what is meant by affordable. We know, it shifted from one income and a 15 year mortgage to two incomes and 30 years of mortgage. Funny, why is this kind of arithmetic seen as being clever and even brilliant? And people in high places can tell the people straight in their faces that they are not lying, that it is affordable! And this ...

Full article: http://mysingaporenews.blogspot.com/2011/10/affordability...

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