17 Feb '11, 11am

Singaporean Ramzi Mohamed is tired of sleeping in the living room of the two-bedroom apartment he shares with his...

Singaporean Ramzi Mohamed is tired of sleeping in the living room of the two-bedroom apartment he shares with his...

Singaporean Ramzi Mohamed is tired of sleeping in the living room of the two-bedroom apartment he shares with his mother and older brother. His problem is that housing prices in the city-state are up almost 70 percent since 2006 while the 29-year-old gym administrator's monthly salary of 1,200 Singapore dollars ($938) hasn't budged in five years. "When I was 20, I thought I'd have my own place by 30," Ramzi said. "Now that I'm almost 30, I wonder if that will ever happen." Like tens of thousands of others living in the tiny island nation that boasts one of the world's highest levels of GDP per person, Ramzi's failure to realize his modest ambitions is no accident. A flood of cheap immigrant labor – and stiff competition for manufacturing jobs from Asian neighbors like China and Vietnam – has kept keep wages stagnant for many and widened the gulf between a very wealthy mino...

Full article: http://yoursdp.org/index.php/news/singapore/4603-stagnant...

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