An OL (old lady) in her 50s, pensionable civil servant, was having a lunch time talk with a YM (young man) in his early 30s.
OL: Young Man, standard of living has gone up, pay is high, life is good. Right?
YM: Is it? Apart from technological advancement, pay is numerically high, but things are not cheap. Especially housing.
OL: Are you sure? Housing is not cheap, but surely your pay is high enough to afford a flat. 25 yrs ago, my pay is only $500 but now, your pay is $5000.
YM: True, I'm earning $5k now. But a resale flat now easily cost $500k! Even if i spend every single cent i earned on the housing loan, I need to pay for 100 months, just to "own" the flat!
You, on the other hand, earned $500 back then, but house only cost at most $10k. With your pay of $500, even if you use every single cent to service the loan, you only need 20 months!
OL: No leh. My house cost about $30k back then.
YM: $30k? You still only need 60 months to service the loan. Wait a minute.... what house are you referring to?
OL: Terrace lor.
YM: Well..... you sure i'm better off?
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment