Proud owners of a $3m dollar piece of space
How many of you are proud owners of a $3m or $1m piece of space in the sky, with 4 walls that you called home? I bet there are many out there, some willingly forking our several millions to have a little space fancifully dressed up and called high end apartments. High end or low end, it is a big chunk of money that people are paying for. Imagine how many more things they can do with that kind of money to better their lives and the lives of other people? But relatively speaking, the money they spent is only a fraction of their worth. They still have a lot to spare to live a great life. At the lower level, at the HDB level, many are paying a relatively higher portion of their income for that space called flat or home. Why do we have to pay so much just for a place to sleep? The joke now is that the people who really enjoy the expensive flats or landed properties are the maids. They are the ones staying home while the owners slogged day and night to pay for the flat or houses. For many who just have one property to live in, a 4 rm or 5 rm flat is still a flat whether you pay $200k or $1m for it. High prices are good for those who want to trade their homes. And if the cost of a flat can be reduced, the savings can be used for a better quality of life, to purchase many other things. What is happening is that the money is now locked in this little flat called home. It is a deplorable allocation of resources. Asset rich and cash poor, and little money left for other things. Is this a good model?