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8/12/2010

What is $10 million?

This is a statement that a friend of mine used to gripe about. He was cheesed off when he heard this statement made by an elite. That is another world of successful people who have made literally tons of money and $10 million is not money to them in the real sense. It is better that we come down to earth and talk about $100k. What is $100k? Some foolish people take this just as a number. What is $100k if the resale price of a 3 rm or 4 rm flat goes up by that amount? To the owner or seller of the flat, wow, I am richer. Think again. What is this amount to the young couple earning a combined income of $3k means to them? It simply means that they will have to work for 3 years for nothing, and that is if they did not spend a cent, to earn $100k to pay for the flat. In reality, people who earn $3k can at best save $500 pm. This means his debt or burden because of this $100k increase in the price of a flat will drag him down for at least another 10 years. For those foolish people who cannot see any meaning in a $100k increase in public housing price, please sleep on it. Or you may want to rubbish it as another gripe that is best not spoken and not heard. It is the problem of the losers.

5 comments:

Anonymous said...

Ignorance is bliss.

Not understanding the repercussions is also bliss.

Anonymous said...

Me a bit drunk but I must say live within your mean.You borrow 10 k from the bank and tney can snowball it to more than 100 k by late payment,interest and any reason they can think of.Gamen approve one.
The powerful and the rich can just squeeze you as they like and 100k is peanut to them.
The 100k can help the flat owner to free himself from the bank.To the young couple ,I can only say live with your parent.Why do young couple need to stay away from the parent when they got married.They deserve to be punish by not staying with their parent.They chose to pay for flat which is not affordable to them.Blame no one.

Chua Chin Leng aka redbean said...

I don't think a 3/4 rm flat is big enough for two families plus siblings. And it is better for young people to start life on their own without the parents in their ways.

Anonymous said...

10 Millions is not even the total incomes of many parliamentarians in Sin for one term(approx 5 years ea.)

Anonymous said...

Wait a minute, it is only about 18 peanuts.