Originally posted by robertteh:
At one time, the bank will consider that a person is paying too
much if his monthly vehicle loan or housing loan instalment exceeds
20-25% of salary.
Today, a family with 2 kids are forking out total bus fares of
easily $250 for 2 adults and the kids. If the family has one
breadwinner earning $900 -$1,000, the bus fare will easily exceed
20% of salary which should make the bank refuse to grant a loan on
bank's affordability index for more substantial item like housing
or vehicle purchase. Just imagine now it costs 20% for necessity
like bus fare !!! But the government will not want to admit this
kind of cost to citizens is high. They will rather continue to give
their own statistics to avoid showing the problem affecting the
lower income group.
First of all, what proportion of families in Singapore earn this
kind of money?
Secondly, you obviously do not know that the govt already provided
assistance for transport to poor families. You would have known it
if you really cared for the poor. Don't be a hypocrite my
friend.
