He who earns $ 200,000 a month has the guts to tell Singaporeans that they are fortunate enough to have $ 200,000 in assets



If he did not even realize the irony and incongruity of his messages, it shows how uncomfortable or brutal Prime Minister Lee Hsien Loong has become.

During the National Day Rally he told Singaporeans that they are fortunate enough to have at least $ 200,000 in wealth.

Prime Minister Lee said, "Take a first-generation resident in Ang Mo Kio, for example, and his four-room flat would now be about 40 years old and could raise more than $ 400,000 in the resale market." In a good location, he probably bought more. the flat 40 years ago, how much do you think he paid for it? $ 25,000 Even if you take into account inflation, this is a huge valuation. "We have provided a lot of Singaporeese people with a significant addition to your name, even lower income households . If you take our homeowners who are 90 percent of the population, and you look at the poorest one-fifth of homeowners, they have on average $ 200,000 in wealth in their HDB flat. $ 200,000 of wealth. That means you take the value of the flat, that you do not pay his mortgage and that he still has $ 200,000 to his credit. This does not happen anywhere else. "

Note, it is not even cash – it is locked in the value of their HDB flat. This takes into account the fact that a 4-room HDB flat is worth about $ 400,000 and is owned by a couple.

But because Singaporeans need a roof over their heads, will they ever be able to enjoy this so-called wealth they possess?

Above all, it is quite an insult when you consider that Prime Minister Lee, who earns almost $ 200,000 a month, thinks it's such a big deal that after a lifetime of hard work and savings, every Singaporean could get $ 200,000 worth of assets. to have. their name.

There is also irony and incongruity in him that gives people advice on managing the cost of living, such as going for $ 3 meals at the hawker centers. This is someone who has never had to tighten his belt and tell others how to stretch their belt.

Is not it in any case the task of the government to limit the increase in the cost of living instead of giving tips on how to deal with it? If the government had not made the costs worse by increasing the prices of water and electricity, in addition to other measures, the burden of higher costs would not have fallen on the people at first.

It is the same inaudible dissonance with PM Lee telling the Singaporean population not to worry about the 99-year lease on their HDB flats because "in fact 99 years is a very long time".

He is missing the point. People are not worried about the 99 years per see – it is the fact that the HDB's flat, once seen as a valuable asset, is now seen as a depreciating asset, despite what Minister Lawrence Wong says. With each passing year the value will probably fall and this is sufficient to cause serious concern.

Since 99 years is a very long time, the rejoinder of Singaporeans would be that remembering CPF savings until people reach the reach of 65 and then also a very long time.

The problem is that the more you think about the messages and the advice Prime Minister Lee gives out, the crazier and more illogical they seem.

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