Singaporeans are getting richer

I was reading Goh Meng Seng's latest post in which he quoted an official statistics that reads like this, 'The average household income from work had also risen from $4,238 in 2003 to $5,680 in 2008, reflecting the growing affluence of HDB households.' Isn't this good news, that the average household income was $5.680. Today, two years later, it should be more than $6,000. Singaporeans no need to go to the casino to shout 'huat ah!' They can now do it at home. My friend's household income in $9,000! Lagi huat. 6 pay checks, average about $1,500 each, and two more paychecks akan datang. That would put his household income to more than $10,000 when the youngest two children start working. Goh Meng Seng argued that the household income surge is due to children unable to buy HDB flats and are forced to stay with their parents, thus boosting household income higher. Tiok boh? With $9,000 or $10,000 household income, can start to buy private property liao. How come ah? Still staying in HDB flat.


Anonymous said...

Really richer or feel richer? Sometimes just looking at your CPF statement can make you disorientated and utter nonsense.

Wally Buffet said...

Using household income as a gauge of affluence is "tok kok". As GMS says, most likely the younger ones are unable to move out and hence still staying with their parents even when married thus boosting the household income.

I know of a malay family who sold their four room flat and then moved in lock stock and barrel to their parent's 60 year lease granny flat. The profit for the flat went to a brand new Honda Stream MPV, a 52 inch LCD tv and assorted paraphernalia. Total income for that household? $6000!
Wow, not bad for a couple staying in a retiree flat hor!


Chua Chin Leng aka redbean said...

Isn't that good to promote good family relations, living closely with one another and looking after one another? Extended family is good.