Ok, if the folks at SC start to KPKB about Singapore, someone go
remind them that at least, they have a roof over their heads!

The housing situation here just got officially acknowledged as
being pretty bad! 
Here are excerpts :
High prices end Australian dream
Greg Roberts
January 21, 2008
Australian and New Zealand homes are the least affordable in the
world, according to a US-based survey of 227 cities.
The 2008 Demographia study of international housing affordability
listed 18 Australian cities in its top 50 of severely unaffordable
markets.
The study rates housing affordability in the English-speaking
nations of Australia, New Zealand, Canada, US, UK and
Ireland.
The least affordable city in Australia is Mandurah (sixth-least
affordable overall), south of Perth, where houses cost 9.5 times a
household's average annual income, with Sydney (8.6), Perth (7.6)
and Melbourne (7.3) in 11th, 19th and 22nd place overall.
Demographia rates a city's housing market "affordable" when the
cost of an average home is three (or less) times average household
income, "seriously unaffordable" for four times the average and
"seriously unaffordable" for five times.
"On average, Australian families are forced to spend 6.1 times
their entire household income to buy a typical home compared with
3.1 times in Canada and 3.6 times in the US, and that's before
interest charges."
For the full article, click here : http://www.theage.com.au/news/national/high-prices-end-australian-dream/2008/01/20/1200764081322.html