Since young, I have always known Singapore to be a multiracial society made up of at least 4 races. However our current Prime Minister's speeches give me the impression that there are only 3 significant racial groups in Singapore.
20 years ago, the general population's salaries were in the range of 4 figures and HDB flat prices were in the range of 5 figures. Now salaries are in the range of 4 figures and HDB flat prices are in the range of 6 figures. I shudder to think what it would be like 20 years from now when salaries remain in the range of 4 figures and HDB flat prices climb up to 7 figures.
Singaporeans have grown to become heavily dependent on bank loans and compounded interest rates make the cost of living all the more expensive. I am not talking about owning luxury items, but rather the essential items. I am talking about the cost of education (5 figures for a university degree). I am talking about owning a place of our own (6 figures!). Only a very privileged few earn a 6 digit a month salary and thus we are forced to borrow from the banks. We work hard, to clear our debts but the more money we make, the more we have to pay in the form of taxes. We are trapped in a vicious cycle.
Our policy makers are obviously oblivious to our needs. With their 6 digit a month salary, I cannot imagine how they can ever understand how average singaporeans try to cope, just to own a place we call home. We have been told that HDB flats are subsidized. I find that hard to believe, especially when we get no satisfactory answer when we press for the breakdown of costs of HDB flats. If you were to tell me that HDB flats were subsidized when they were still in the price range of 5 figures, I would have believed you.
But when Singaporeans have to fork out >$200,000 for a 4 room HDB flat now and are still being made to believe that HDB flats are being subsidized, all I can say is this:
Fool me once, shame on you. Fool me twice, shame on me.