Serious Young shoulder burden of housing crisis, while older reap profits: study

[Hangover]

• Young families pay more to live in smaller homes, further from jobs and with less security than their parents' generation, who instead reap profits from the country's housing shortage
  
• The big danger today is that young people are having to settle for lower quality, longer commutes and less security in order to afford a place to live, despite spending a record share of their income of housing
  
• Housing prices have more than doubled in the past two decades, and more than quadrupled in some locations. But average wages have risen by only a fraction of that amount.
  
• While individual housing costs have increased for everyone, a record proportion of seniors own homes, which has boosted their wealth and income in later life, the report said. The baby boomers - the generation born in the two decades after World War Two - have been the biggest beneficiaries.

http://www.businesstimes.com.sg/rea...housing-crisis-while-older-reap-profits-study


Sounds like Singapore

 

[eatshitndie]

same with the bay area as majority of millenials are fed up with high cost of housing and leaving in droves.

http://www.mercurynews.com/2017/09/...y-area-residents-ponder-exodus-costly-region/

 

[Hangover]

same with the bay area as majority of millenials are fed up with high cost of housing and leaving in droves.

http://www.mercurynews.com/2017/09/...y-area-residents-ponder-exodus-costly-region/

USA is big lor. Can't afford Cali, can move to texas.

 

[eatshitndie]

USA is big lor. Can't afford Cali, can move to texas.

in sg, can't afford bedok can move to yishun presidential new town.

 

[PTADER]

Fifty years from today, you will have the children of these "young" complaining that the "young" who will be then be "young + 50 years" older, are reaping "profits" as these children, the "new" young, "shoulder [the] burden of housing crisis"

• Young families pay more to live in smaller homes, further from jobs and with less security than their parents' generation, who instead reap profits from the country's housing shortage
• The big danger today is that young people are having to settle for lower quality, longer commutes and less security in order to afford a place to live, despite spending a record share of their income of housing
• Housing prices have more than doubled in the past two decades, and more than quadrupled in some locations. But average wages have risen by only a fraction of that amount.
• While individual housing costs have increased for everyone, a record proportion of seniors own homes, which has boosted their wealth and income in later life, the report said. The baby boomers - the generation born in the two decades after World War Two - have been the biggest beneficiaries.

http://www.businesstimes.com.sg/rea...housing-crisis-while-older-reap-profits-study


Sounds like Singapore

 

[nayr69sg]

Fifty years from today, you will have the children of these "young" complaining that the "young" who will be then be "young + 50 years" older, are reaping "profits" as these children, the "new" young, "shoulder [the] burden of housing crisis"

50 years from today there will be no more Singapore.

 

[bobby]

same with the bay area as majority of millenials are fed up with high cost of housing and leaving in droves.

http://www.mercurynews.com/2017/09/...y-area-residents-ponder-exodus-costly-region/

Big difference...we are talking about "public subsidized" housing.

 

[Hangover]

Why the ageing population could worsen wealth inequality in Singapore
http://sbr.com.sg/economy/in-focus/why-ageing-population-could-worsen-wealth-inequality-in-singapore

Singapore's ageing population could worsen income and wealth disparities, Deloitte said in its Voice of Asia report.

 

[eatshitndie]

Big difference...we are talking about "public subsidized" housing.

if pubic subsidized housing can sell for a million bucks something must be working right.

 

[johnny333]

USA is big lor. Can't afford Cali, can move to texas.

The problem in the USA is that many of the cities are in areas that are vulnerable to climate change e.g. Hurricanes & floods. Just look at NYC, Texas, Miami, ...etc which have been hit by floods.

So even if they spend billions rebuilding there is no guarantee that these cities will not be hit again.

 

[shittypore]

50 years from today there will be no more Singapore.

50yrs frm now you get the PM who holds a dual citizenship, India and Nehpore. 80% population of Nehpore will be mixed, Ah Neh frm India, Pinoys, PRCs and Vietnames bal 20% will be losers Sinkies.

 

[Hangover]

The problem in the USA is that many of the cities are in areas that are vulnerable to climate change e.g. Hurricanes & floods. Just look at NYC, Texas, Miami, ...etc which have been hit by floods.

So even if they spend billions rebuilding there is no guarantee that these cities will not be hit again.

insurance will cover.
In Aust, such insurance are a standard requirements and covers even the clothings that you loss (if you have the receipts) and your temporary residence.

 

[Hangover]

Many people buy their home without thinking carefully; hoping to get in as soon as possible because their parents made a killing from local properties
but we are an advanced economy now - rates can go up, prices can go down and jobs can be lost.

 

[virus]

in sg, can't afford bedok can move to yishun presidential new town.

Bodok can't afford can go die in the reservoir n free up space, feed the otters n crocs

 

[bic_cherry]

Nothing in this world compares to the wealth divide in Singapore

Nothing in this world compares
The best NDP song to play during MRT breakdowns and NS enlistment AND WALKOVER PRESIDENTIAL ELECTIONS ....

I'm so fed up repeatedly hearing it @ NTUC unfair price, would be interesting playing it @ NS enlistment and MRT breakdowns to ?improve? the atmosphere ...
[video=youtube]https://youtu.be/DI2TeyDJ7Zo[/video]
[video=youtube_share;DI2TeyDJ7Zo]https://youtu.be/DI2TeyDJ7Zo[/video]

YouTube
3:30
[Official Music Video] Because It's Singapore! - NDP 2017 Theme Song; NDPeeps
Published on May 22, 2017
Title: Because It's Singapore!
Music by Lee Wei Song
Lyrics by Jay Lim

Step by step
Together we'll build our dreams
Heart to heart
Together we'll stay as one nation, undivided
Back to back
Together we'll brave the heat, the cold, the storms
Hand in hand
Together we'll grow this land that we call home

Nothing in this world compares
It's our Singaporean Life
Everyone is family, friend and neighbour
Living in harmony

Nothing in this world compares
To this island where it's home
Where we love and know we'll never be alone
Because it's Singapore (Just Believe)
This is Singapore (We Can Be)
Our Singapore (The world will see)
We are Singapore

 

[scroobal]

The fact that Govt has been giving grants is to reduce damage politically.

The politics behind HDB is immense - huge voting bank, old man using drop in HDB prices as a threat to Tampines residents, not upgrading opposition wards, forming political town councils, saddling opposition MPs with municipal duties etc.

 

[Hangover]

not upgrading opposition wards, forming political town councils, saddling opposition MPs with municipal duties etc.

I visit bukit batok and potong pasir regularly (no longer an opposition ward for 7 years). You will be shocked by the poor maintenance and leaking pipes in the void deck. To be fair, opposition wards are still relatively well-managed.

 

[Hangover]

Source: UBS

Singapore has the 4th most un-affordable housing among the developed countries.

 

[Hangover]

Source: UBS

Singapore has the 8th poorest rental-yield among the developed countries.

 

[Semaj2357]

Bodok can't afford can go die in the reservoir n free up space, feed the otters n crocs

some may even provide a sting (without bone) for those that don't have a ray of hope left.
barbs without borders