Singapore follows a 20-year cycle. Your thoughts please

[scroobal]

Cost of living was not even mentioned. Everyone would wait for the National Day Rally for the new game plan with great excitement.

The nominal wage level was much lower, but it was enough to meet cost of living. Those who invested wisely in properties are sitting on a fortune, but that wealth is not unlocked due sentimental value or to accommodate a multi-generational family in the case of a landed property. That asset was built through decades of toil and work.

Interest rates were not insane as they reflected the widespread inflation happening in the developed world.

 

[scroobal]

Now that you mentioned high interest rate I recall those hawkers and those who were not literate would ask help writing letter to the Bank to extend their fixed deposit for another year or so.