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29-04-2012, 08:13 PM
(29-04-2012, 11:56 AM)Musicwhiz Wrote:(29-04-2012, 11:38 AM)camelking Wrote: lot of working couple have combined income of $200k per annum.
What is a property of 1m to them?
Income gap is ever increasing due to skills sets and globalisation.
I think things must be taken in context - I don't know of many couples around my age group (35-40) who are earning $200K per annum. Perhaps if we looked at the 40-50 age group, this may be more possible. But then again, it's naturally assumed that we have more savings (and hence money) as we work more years and save and build up our fortunes, right?
So wealth should in some way be tied to a function of age. E.g. if you were 20+ and a millionaire I'd say you were really capable! But someone who becomes a millionaire at age 60 is less impressive (though still commendable).
Well, we can't deny that income has gone up for certain segment of the population. Read somewhere that Singapore has one of the highest income gaps in the world.
In addition, Singapore has the highest number of millionaires "density" in the world.
This probably explains the hike in assets prices in the nation.
Of course, there will be some people who are swimming naked in the high tide now but perhaps people will be disappointed if they are expecting a plunge in assets price.
For the past 50 years, the world and in particularly, this part of asia, has experienced unprecedented economic growth and success. A huge middle class is emerging in Asia Ex Japan. Money has flowed and will continue to flow into North and South Asia from other part of the world.
Is the success story likely to continue? I like to think so.
With it, property will continue to soar in the long term (10 to 20 years)
"no vested interest in property"