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Old 04-12-2014, 01:39 PM
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LOL, it was not too long ago people were complaining they were asset rich and cash poor. So now they are cash rich also?

I think generalisation is very misleading. We must recognise that there are different groups of people here. For eg. we hear of people protesting in Hong Lim Park asking for their minimum sum to be returned to them. But this group is a very small group of highly vocal people. The vast majority here are actually happy to have their money in the CPF earning the 4-5% interest guaranteed. I believe there are those who secretly wished the gahmen would further increase the minimum sum requirement so that they can put in more to earn the interests. Where can you find this kind of interest with guarantee from the gahmen?

Then there is this group who complain the COE is too high and swearing that they wont buy cars, yet the strong bookings are still there. One can only conclude that there are 2 different groups of people. One group who thinks cars are still affordable and the other - the vocal group that felt priced out of the market.

Likewise, there are people who are asset rich but cash poor, and others who are both asset and cash rich. Think there are significant numbers of people in each of this group. That's why property and cars prices are still holding up well.

So when you hear a few people complaining, you cannot generalise it to the whole population. And surprise, surprise, usually the quiet group is the majority.


Quote:
Originally Posted by Unregistered View Post
Its about affordability. Many people in SG are cash rich and dont know what to do with them. Anyway they cannt bring extra cash into the coffin. Or worst give to some PRC god daughter. So might as well spend on themselves to enjoy life.



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