Ok first things first. I am not singaporean I am Australian but my father is from Singapore and came here in the 1960s and I still have a lot of family there etc.
I am curious as to whether your CPF is a ponzu scheme operated by the garment under another guise. You can use it to buy a house/flat that is the supply and price of which is controlled by them.
Let's say your garment builds 800 units. It owns the land so no cost. It pays bangladeshis, pianos etc to build them and they get paid but also pay tax to sing garment. So even the labour cost part of it returns to garment. If tax is 20% for every 1,000 the garment is truly only paying 800.
Then a singaporean buys the flat at market price, say 800k using cpf as deposit. Bank pays the remainder to sing garment for mortgage and worker has depleted their cpf.
Is the cpf and Singapore garment creating a housing bubble. It is potentially worse than the us crisis is it not ? If the population ages, everyone draws down their cpf and contributions fall then what ??
I am curious as to whether your CPF is a ponzu scheme operated by the garment under another guise. You can use it to buy a house/flat that is the supply and price of which is controlled by them.
Let's say your garment builds 800 units. It owns the land so no cost. It pays bangladeshis, pianos etc to build them and they get paid but also pay tax to sing garment. So even the labour cost part of it returns to garment. If tax is 20% for every 1,000 the garment is truly only paying 800.
Then a singaporean buys the flat at market price, say 800k using cpf as deposit. Bank pays the remainder to sing garment for mortgage and worker has depleted their cpf.
Is the cpf and Singapore garment creating a housing bubble. It is potentially worse than the us crisis is it not ? If the population ages, everyone draws down their cpf and contributions fall then what ??