Provided:
1) You have children now and 30 years down the road he is able
to afford a 3 million flat. He would need to be making above
$10,000 a month. 
2) Your children wants you to live with them.
3) If you want to lease a small place, it won't be at $1,500 a
month, most likely the rental would be at least $7,500 a month.
4) Your usual plate of economical rice won't be $3 to $5.
There is no provided, 30 years down the line many things can
change. 30 years ago nobody know prices of property would be what
it is today.
If prices of HDB flat could be $3 million, then it is reasonable
to conclude that private property would be $6 million. Imagine if
an HDB 4 room is now $350,000, become $3 million, what other
investment you can get that kind of return??? buying a house is no
longer for what you need, but also for investment, those who can
afford would be putting their money in property, pushing
prices up. that is pure speculation, except that this time people
speculate to paint a picture to scare themselves.
Put it this way, if I can sell the HDB for $3 million, convert
it to RM, wao lao.....with 7 RM, how much you can do in Malaysia,
don't have to stay in Singapore.
