With reference to today’s Straits Times article where Mr Mah Bow Tan said it is not true that HDB resale prices have outstripped income growth. He supported his statement with the following statistics:
This is the data behind the graph:
I would like to point out that the choice of the base year can be very significant. Let’s see what happens when we change the base year to 2000 and 2001...And if we look at it since the last General Election:
Resale prices up by 45.6%, while median household income is up 21.3%. Choosing a suitable base year to support your conclusions is quite a useful trick that we should all learn.
Read the entire article here: HAZEL POA
Here's the Straits Times article in question (click to enlarge). (Courtesy of Singaporean Mind).