10 Mar '12, 12pm

Many Singaporeans have become poorer, not richer

Singaporeans are feeling rich with high property value and high salary. If you compare the wealth of Singaporeans today and 30 years ago, Singaporeans are generally better off, richer, with more asset value to their credit. And the smarter and more talented ones are richer than their counterparts in the past beyond words. Yes everyone is getting richer, but the real wealth or value is about one zero less from what they have. The real value of a 5 rm today is really the same value of a 5 rm flat yesterday, with a little enhancement. A $500k flat is actually the same $50k or $30k flat then. And only half life left. An income of $5k is really $500 then. That is the real value of our money’s worth. There are certain items where the prices are about the same as in the past, some may even be cheaper. But for many things, the prices have gone up by more than 100%. A 10c cup of ko...

Full article: http://mysingaporenews.blogspot.com/2011/12/minus-one-zer...

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