Originally posted by reyes:
[b]If you are referring to the cost of living, then it
would be roughly the same, ceteris paribus (all other things being
equal).
TS chose the wrong issue to pick on, 2.6% is not a big deal at all
compared to the interest rate of other countries.
we cant compare our interest rate to our neighbouring country. coz
we are in different league. we should compare to USA, australia,
HK, Japan.
taking into consideration factors like what is the deposit interest
rate as well.
if interested rate of borrow is high, the deposit interest rate
should be also higher.
[/b]
i checked out the interest rates for HK, Aus, (but not US or
japan) HK, Aus still higher than sing, no where can i find anything
as low as 2.6%. Yes, it's true that we should consider other
factors as well, like the deposit interest rate and that's when
things can get complicated.
The scenario which is presented in the first post, looking at the
big picture (not comparing the interest rate of other countries),
and taking into consideration his salary, to me, it is already
considered lucky that he can even afford to take the loan 100% on
his own. But that's just my opinion.
