Red Dot is going the way of the USA. I am surprised that everything in China is so cheap after listening to what is narrated on Youtube by Rednote users, while everything in Red Dot is honestly very expensive by comparison.
Forget about all the gloating about affordability which is a relative term. That is the same mantra that the USA Government and MSM had been feeding the USA citizens. How could China, with a population of 1.4 billion and with such a low per capita GDP be able to afford looking after its citizens so well? Sure, Chinese people cannot match the super high income of Singaporeans, but their living standards are not inferior to ours. They have cheap homes (which is theirs in perpetuity after paying up, with no property tax), cheap cars, cheap food, cheap transport cost, cheap healthcare, cheap university education which really shocked me. US$ 798 university fees per year is unbelievable.
I know, some will say, why don't I migrate to China if it is so good. What can I say?
Anonymous
4 comments:
An interesting development is ongoing in Red Dot. Foreigners are pushing up private property prices, make their pile and then leave the country, leaving the high property prices to be shouldered by locals, especially the younger generation. The trickle-down effect of private property prices escalation in the HDB sector is not lost on buyers. Now even the HDB rental market is on fire. If this goes on, Singaporeans aged 35 can just buy a flat, live with their parents, and do not have to work by renting out whole flats. Rentals of thousands is enough to live on, so why work? I have seen younger Singaporeans living with parents and not wanting to work among neighbors.
It given an opportunity, I would gladly migrate to China and enjoy the better quality of life there. China is not like here where PR/citizenship is given out like toilet paper.
The only way to fuel demand and escalate property prices is by admitting more foreigners. I think even before reaching the ten million population mark, the property market is going to burst like in Japan.
How long can you blow up a balloon without it bursting at some point of time?
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