Are we better off today than in the 1970s? In 1970, many average people could earn $600 pm. And that amount, $7,200, was enough to pay for a 3 rm flat in a year.
Today, what is the average income, per head, not household? $3000? Can that pay for a 3 rm flat in a year, ie $36,000? Even with two persons income of $6,000 pm, it is only $72,000. How much is a 3 rm flat, new?
Are we really better off than before? Or are the HDB flats really affordable?