What's the big deal?
The current financial crisis is not really a crisis if one is prepared to look at the problems objectively. We are not the poor beggars of third world countries. In fact many Singaporeans are still very rich, worth half a million or a million at least, in assets. See, the problems start to fritter away when you are clear and see things in the correct perspective. Unlock the value of your assets. Singaporeans can't go around begging when they are living in big houses or expensive flats. Those in 5 rm flats can downgrade to 4 rm, 4 rm to 3rm. They will be cash rich immediately. When the finances are not in order, how can they still think of staying in 5 rm or 4 rm flats and ask the govt for assistance? And for the 3 roomers, go for the HDB studio or go for rentals. They must thank the govt for the foresight to build more smaller flats and rental flats. But a better solution is to sell and take all the monies to neighbouring countries like China, India and Indonesia. JB is not a bad place too, cheap and good. And one can live in peace without worrying about old age and being sent to JB's nursing homes. Go there now and chop a place first. Brilliant huh?