Income up 3 to 5 times, Price of New Flat up 10 to 30 times

@scheng1 (24701)
February 8, 2009 9:20pm CST
A report in Channel NewsAsia reported that Dr Wee highlighted the point in Parliament last week (Singapore), from 1970 till now, the starting salary for new graduate increased by 3 to 5 times, but the price of new flat (public housing) increased by 10 to 30 times. I think Dr Wee's example is not that appropriate, considering that not all of us are graduates. If the graduate finds it hard to afford a new flat, then what about those of us in lower-skilled, lower-income group? Singapore is such a small island, no countryside to speak of. We can't even downgrade and move to a smaller town to stay.
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