Singapore's $200,000 Toyotas Fuel Angst Over Widening Wealth Gap

Bloomberg01-29

Permit to own a car spiked at a record $112,000 last yearAffordability debate grows with elevated rents, inflationFor most of her life, Sabrina Vu had a car, even though you can’t drive far in her ...

Source Link
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

  • PandaEyes
    01-29
    PandaEyes
    It's not status, it's convenience. I'm a sinkie with car, even at times when I don't have my car, I will still do a uber. It's the amount of time saved as compared to taking a public transport. 
  • vchong8
    01-29
    vchong8
    it's one of the failures of a centrally planned economy. China is reflecting the same issues. In Japan's large cities, many own a car. The govt only made it prohibitively costly to drive one or park one. Largely becos, Japan makes cars and also many drive out of town for weekends.  Singapore should review the auction based COE system. It does not reflect a caring society but one in favor of the wealthy. The rich can buy time but everyone else must wait for the next train or bus. 
  • Kok
    01-29
    Kok
    In other countries that are big and you can't easily travel from one place to another, a car is necessary. In tiny Singapore where public transport can get you almost everywhere, cars are not a necessity. People buy cars cos it's a status thing. N it's natural for people to get angry when they can afford to buy cars in the past but not now. The problem is with population growth. The govt is using population growth rather than productivity growth to help sustain economic growth. Our tiny island is just going to keep growing more n more dense, until everyone suffocates to death.
  • JimmyChua
    01-29
    JimmyChua
    Crazy prices. I bought a suzuki swift 1.5 in UK. Only a few k sgd
  • Tootsieroll
    01-29
    Tootsieroll
    It's money making scheme for the govt pocket 🫶
Leave a comment
5
4