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09-12-2010, 11:14 PM
I think what he means (and what I take it to mean) is that Singapore is a high-cost of living country, and there is a high risk of prices moving even higher due to market forces and inflation.
A simple consumption item such as a car is also tightly controlled, and no other Government in the world imposes such draconian taxes on car ownership, and stands to reap so much from it.
Methinks that many young people committed to a car too early, and using easy and cheap leverage, not knowing that they are mortgaging away part of their (financial) freedom for instant gratification. The consequences 10-20 years down the road would be detrimental.
And oh yes, this also includes runaway property prices!
A simple consumption item such as a car is also tightly controlled, and no other Government in the world imposes such draconian taxes on car ownership, and stands to reap so much from it.
Methinks that many young people committed to a car too early, and using easy and cheap leverage, not knowing that they are mortgaging away part of their (financial) freedom for instant gratification. The consequences 10-20 years down the road would be detrimental.
And oh yes, this also includes runaway property prices!
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