what is the average income between SG and OZ?
what is the real meaning of house ownership between HDB lease
and OZ's house ownership?
what kind of land size can u get for a $450,000 house/apt in SG
and in OZ?
fishbuff, I believe the right question you should be asking
is, what is the disposable income of average
family in SG and Oz? It is meaningless to talk about
income (after tax) if you dont take into consideration
the cost of living.
Not too long ago you quoted an article about this 26yrs
old BLOKE who own $0.5m worth of
property but has got only a few thousands cash
in his bank account. Is this normal in Australia?
Considering the fact that australia property market is slowing
down, while home mortgage rate is still creeping up, do you think
this BLOKE will stressing his butt off to pay off his loan? How is
his situation any better than Singaporeans paying their mortgage?
For Singapore, at least we can still get loan directly from
HDB.
You should be asking what is the land size you can get for
$450,000 + $760,000 (interest) = $1,210,000. In property, it is
meaningless to talk about land size if you dont consider the supply
side of the equation. If you want land, you should consider moving
to WA, they are miles of land waiting for you, if you are willing
to create your own water.
There is nothing wrong with living in big houses, but you
must make sure you can afford it or you end up being a
slave to the bank. According to some older australians I
spoken to, they believe that is the problem with young australians
right now.
If mortgage crisis can hit USA, it can happen anywhere
regardless of land size or freehold.