:bsmilie:
Have car => can get gf => can get married => can buy hdb which is an appreciating asset.
Therefore car indirectly contributes to appreciating your assets.
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Singapore is living on debt
- Thread starter UncleFai
- Start date
:bsmilie:
Have car => can get gf => can get married => can buy hdb which is an appreciating asset.
Therefore car indirectly contributes to appreciating your assets.
I know you are only teasing.... :think:
But if you 'REALLY' think you'll need a CAR to get a GF... then I really feel sad for S'porean...
I know you are only teasing.... :think:
But if you 'REALLY' think you'll need a CAR to get a GF... then I really feel sad for S'porean...
girls flock to me because of my bicycle
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Singapore reserves drawn 55 times since 2002 ([URL="http://www.theonlinecitizen.com/2013/07/toc-tv-drawing-of-the-singapore-reserves-55-times/"]Video[/URL]).
That's an average of 5 times per fiscal year and I had thought we only did it once.
That's an average of 5 times per fiscal year and I had thought we only did it once.
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Singapore reserves drawn 55 times since 2002 ([URL="http://www.theonlinecitizen.com/2013/07/toc-tv-drawing-of-the-singapore-reserves-55-times/"]Video[/URL]).
That's an average of 5 times per fiscal year and I had thought we only did it once.
right. did you even bother to state the explanation why? or the different portions of the reserves that were tapped into?
It's already stated in the article mah.
Ministry of Finance (MoF): Frequently Asked Questions (FAQ).
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The title - "Singapore is living on debt"
It all depends on which generation you are in.
For example, I met a taxi driver. In our conversation, he told me that he bought his private appartment 27 years ago at $200k. Yes, he was on loan just like most people unless you are borned with a golden spoon. Fast track to 2013, he was offered $1.6m to sell his house. He is no longer on debt as of today as he had already repaid all his debts. He is driving taxi not because he needs to make ends meat but to pass time, to meet people, as well as to have some pocket money for his daily expenses. He also told me that he would sell his house for $1.6m and buy a studio appartment for $700k should he decides to quit as a taxi driver. Moreover, all his children are married and moved out. There is no need to stay in a big house anymore. He will use the balance of his sale proceeds for his retirement fund.
Therefore, if you belong to the older generations, chances that we are debt free. Only the XYZ generations onwards will feel the heat. However, all is not lost, if your grandparents / parents build the assets for you, you may not be "jialat".
It all depends on which generation you are in.
For example, I met a taxi driver. In our conversation, he told me that he bought his private appartment 27 years ago at $200k. Yes, he was on loan just like most people unless you are borned with a golden spoon. Fast track to 2013, he was offered $1.6m to sell his house. He is no longer on debt as of today as he had already repaid all his debts. He is driving taxi not because he needs to make ends meat but to pass time, to meet people, as well as to have some pocket money for his daily expenses. He also told me that he would sell his house for $1.6m and buy a studio appartment for $700k should he decides to quit as a taxi driver. Moreover, all his children are married and moved out. There is no need to stay in a big house anymore. He will use the balance of his sale proceeds for his retirement fund.
Therefore, if you belong to the older generations, chances that we are debt free. Only the XYZ generations onwards will feel the heat. However, all is not lost, if your grandparents / parents build the assets for you, you may not be "jialat".
This was very true in the 90s. If you drive a car and park outside a disco, you confirmed get a girl. However, whether she will become your gf or wife is another story.
In today context, I have no idea.
I know you are only teasing.... :think:
But if you 'REALLY' think you'll need a CAR to get a GF... then I really feel sad for S'porean...
First of all, you need to classify which country girls and to categorise pretty or normal or ugly girls. Let face the fact, most girls would prefer their bfs to have a car.
Rising household debt in S'pore worrying: MAS - Channel NewsAsia
wtf...............housing loans is 45% of GDP?!
wtf...............housing loans is 45% of GDP?!
Not counting car loans
Singapore is in property bubble.. and with gov plans to achieve 7 mil residents... well
Not counting car loans
Singapore is in property bubble.. and with gov plans to achieve 7 mil residents... well
Property you have no choice... but yet, Singaporean are so willing to chain themselves to the mountain of debt just to own a Car.....
I don't really care if the property burst or not... I don't own 1 house to stay and 2 condo for investment... either am I over stretched in loan for Cars or Credit. If the individual person isn't doing their loan calculation properly... or invest without a backup plan... then each and everyone will have to answer for themselves....
But what are the risks ... rising interest rates? Or being the last one in the musical chair? :bsmilie: ... the 7mil target? well, you can always to something in the next election to "mitigate" the risk
But what are the risks ... rising interest rates? Or being the last one in the musical chair? :bsmilie: ... the 7mil target? well, you can always to something in the next election to "mitigate" the risk
Besides what you mentioned ? Can't think of any right now.. the armchair economist is too lazy at this time of day :bsmilie:
:bsmilie::bsmilie:
Dudes, 1/3 to 1/2 of our economy is based on a bubble!
Now isn't that interesting?
Govt want 7 mil people to sustain the property market. Lets see if these 7 mil can help revive the economy to sustain/back up the bubble or not.
I can tell you it wouldn't. In fact, sg economy is in a downslide already.
:bsmilie::bsmilie:
Dudes, 1/3 to 1/2 of our economy is based on a bubble!
Now isn't that interesting?
Govt want 7 mil people to sustain the property market. Lets see if these 7 mil can help revive the economy to sustain/back up the bubble or not.
I can tell you it wouldn't. In fact, sg economy is in a downslide already.
:bsmilie::bsmilie:
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