11/30/2010

A very desirable outcome from high property prices

High property prices make many Singaporeans happy, especially the older folks. Yes they are rich and have valuable assets to flaunt and children got to be nicer to them, and maybe one day they can get to inherit the small fortune. But this is not all, because housing is so expensive, children will now have to consider seriously the option of staying with parents. It is not cheap to live separately as some may not be able to afford it. Inadvertently, the high housing price is bringing the family closer together, with two or three generations living under one roof, one big happy family. And grandparents can help to look after grandchildren, saving on maids. Children can go to work feeling safe that their children are in good hands, no abuses or being thrown out of the flats by deranged maids. A lot of quality time with children and parents. Our traditional values of family, three generations under one roof, are back as living institutions. We won’t go the decadent ways of the West. The little catch is that new flats are getting smaller, especially the 3 and 4 rm flats. It may be a little squeeze, but a lot of savings from having to cough out another $300k or $400k to live separately from the parents. This is something that Singaporeans will get use to very quickly, spending quality time at home.

2 comments:

Matilah_Singapura said...

People are going to have to adjust to high property prices. Living at home is one way, but there are others.

Rent and share -- very popular all around the world, even in S'pore especially amongst the expats and "cosmopolitan" Singaporeans. Go to Chip Bee in Holland, East Coast or Seletar and you'll see with your own eyes.

In 2006/ 7 people were moaning about a "flat" property market.

Now that things have turned they are moaning about a "hot" property market.

Idiots can't make up their mind what they want. Confused thinking :-)

Anonymous said...

I am feeling very rich looking at my pigeon coop, after reading this piece.

Early next year I will again feel very rich looking at my CPF statement.

But please don't talk about quality time lah. That is a phrase coined by those who want to justify and console themselves for not spending enough time with their kids.