S'pore prime home price rises rank world No. 3

[Musicwhiz]

When there is a great concentration of wealth and resources are in short supply, the poorer folks get squeezed out.
The poorer folks exist here to service the rich folks and often do not get a fair deal.

On a brighter note, at least there are wealthy people around to serve.

I guess that's why the reports all talk about the income gap getting wider and wider. This is because the rich, with all their good intentions, are not interested to bridge the gap between the poor and themselves. The poor can slog a lifetime to simply earn the amount the rich earns in a just a month (or even a day in extreme cases!). When the rich are viewed as "selfish" and seek only to better their own circumstances (in other words, just get even richer), then we have this pervasive and persistent problem whereby the poor starts to feel resentful even though they are given jobs by the rich. It's just human nature, I guess.

So even though there are wealthy people around to serve, one must ask if the poor's lot in life is actually improving? If not, what more can be done to bridge the gap and make life better for them?

[kazukirai]

Now if I push this line of reasoning:
So since not every adult has the money to buy stocks, and the quality of discussion in this forum is quite high, that means everyone here qualifies to be Treasures member! (maybe except yours truly who is learning from all the old birds here)

I think more than a few of us are the exception. I certainly don't fit the bill. Probably only the more experienced forummers and some of the younger ones that have been working at it really hard. But definitely a larger proportion compared to the relevant peer group.

I guess that's why the reports all talk about the income gap getting wider and wider. This is because the rich, with all their good intentions, are not interested to bridge the gap between the poor and themselves. The poor can slog a lifetime to simply earn the amount the rich earns in a just a month (or even a day in extreme cases!). When the rich are viewed as "selfish" and seek only to better their own circumstances (in other words, just get even richer), then we have this pervasive and persistent problem whereby the poor starts to feel resentful even though they are given jobs by the rich. It's just human nature, I guess.

This is so true.

But as an investor, I prefer to have a system that promotes capitalism. Leaving aside the scenario where income inequality is so extreme that the basic needs of the poor are not met, I think it's also when there are individuals who are 'undeserving' of being rich (i.e. when they control or influence the system that perpetuates the income inequality, preserves the status quo and smacks of cronynism) rather than those who became rich through their own hard work, grit, tenacity and smarts. That's when the poorer segments of society feel much more resentful.

For a case in point, think Tin Pei Ling. It's not so much her age or actual ability but rather that her husband has a perceived position of influence together with a free backdoor pass in the form of a GRC to a part-time allowance that is more than double the median household (not individual) income.

[Big Toe]

Onto Tin Pei Ling. Let's cut her some slack, she's young, no doubt, but let us grade her based on performance rather than age and (lack of)experience. Micheal Dell ran a company very well when he's still very young, in fact I think he did better when he was younger. Also Mark Zuckerberg.

In fact I applaud the move to get her in, at the very least, our garment is willing to make some new changes. A tiny breath of fresh air in an otherwise a very 'static' garment.

Onto the poor and rich divide. The rich definately derserve their money, very much like the wild, where the strongest and fittest animal will survive and thrive. But animals are animals and we being human, should show compassion for less fortunate and poor. The garment, being the strongest and fittest by default, could do more to help the poor help themselves. Minimun wage and limiting the supply of foreign workers is the way to go. This will enable the poor(i.e. big toe), who genuinely wants to work hard for a better life, to have a fighting chance.

[kazukirai]

Onto Tin Pei Ling. Let's cut her some slack, she's young, no doubt, but let us grade her based on performance rather than age and (lack of)experience. Micheal Dell ran a company very well when he's still very young, in fact I think he did better when he was younger. Also Mark Zuckerberg.

Hi Big Toe,

My post wasn't about being critical of Tin Pei Ling as an individual but rather to highlight that her candidacy for MP is perhaps the most relevant and recent example of the kind of system that should not be perpetuated.

As you have said yourself, it should be about a system that empowers individuals such as Dell or Zuckerberg to succeed. As for Tin Pei Ling's candidacy for MP, the perception is exactly contrary to that.

She may have done well in school (Crescentian of the Year I believe and some Oratory award) or may have been active at the Grassroots level but unfortunately, it doesn't really show in her interviews with the press. Coupled with the fact that her husband is Secretary to the PM (which in itself is not a crime but gives the perception that she can't quite carry her own weight) and throw in the fact that she may ride into parliament on the coat-tails of others thanks to the GRC system...

So how then, does this allow people to determine her performance and whether she, as an individual, is deserving of a place in Parliament?

[koh_52]

Tin Pei Ling....why not field her in a Single Member Constituency (SMC) instead of a Group Representative Constituency (GRC),

please support the on-line petition on yahoo.

[Musicwhiz]

Tin Pei Ling....why not field her in a Single Member Constituency (SMC) instead of a Group Representative Constituency (GRC),

please support the on-line petition on yahoo.

I have signed the petition. But we all know how things work in Singapore - you can petition all you like but nobody really listens (look at the instance of the death penalty).

Somehow this discussion is turning more to politics, haha. Perhaps we could steer it back to the topic at hand, or towards property in general?

[Big Toe]

hi kazukirai,

The post was not directed at anyone, it was a response to how critical the public was towards her.
My view is that it is a slight positive that a young person is allowed into parliament.
As for which party she belongs to, how she got there, what she did to get there, does she deserve a place; is a different matter altogether.
The key word here is 'change'.

Times have changed, we are no longer a third world country even though we are not a developed country yet. The hardware is world class(think infrastructure and property prices) but the software....politics, social system, arts, immigration laws, labor laws, etc... is still way behind.

[kazukirai]

hi kazukirai,

The post was not directed at anyone, it was a response to how critical the public was towards her.
My view is that it is a slight positive that a young person is allowed into parliament.
As for which party she belongs to, how she got there, what she did to get there, does she deserve a place; is a different matter altogether.
The key word here is 'change'.

Hi Big Toe,

Yup, point taken. I'm just wondering how many people are critical of her solely because of her age. She wouldn't be the youngest MP to ever enter parliament. There was another guy many years back who went in at 27 too right?

And as for letting a young person in just for the sake of that while ignoring other factors, it reminds me of the investing parallel of 'activity for the sake of activity' so I'm not sure how well that would work out eventually.

Also,
Times have changed, we are no longer a third world country even though we are not a developed country yet. The hardware is world class(think infrastructure and property prices) but the software....politics, social system, arts, immigration laws, labor laws, etc... is still way behind.

Do you mean property prices in the sense of it being one of the highest in the world on a PPP basis? On one hand, I can see why that would be an indicator of how world-class we are but on the other, I can't see how that would be very beneficial. Is it a necessary evil we need in order to become 'world-class'?

(As you can see, this is my blatant attempt at steering the topic back to Property Prices before MW kills me for not doing my job as moderator )

[natnavi]

In my opinion, what sort of background the candidate is from or age for this matter, is not as important as the ideals he/she has and what sort of policies will the candidate want to implement to help improve our nation.

So far, from what I have read, the new candidates from the current leading party are satisfied with the status quo and are not willing to implement any changes to help improve the situation. How will anything change if our new leaders are satisfied with the current policies? How will the property prices become more affordable for the average Joe (without taking a 20-30years loan and exhausting all his retirement funds) if everything remains the same?

I really really hope to hear what these new candidates are willing to do to help improve the current lives of the Singaporean people. Or at least make the properties more affordable.

Please note that I use the word affordable as I do not mind if the property prices continue to escalate as long as the income of the average Joe escalates at the same rate.

[violinist]

Just a poll. How many of you thinks property prices/bubble will burst after GE?