Don’t take pity on me
Robin Low writes that Singaporeans are struggling to afford retirement due to a high cost of living, inadequate retirement savings, longer life expectancy, difficulty finding work, and family responsibilities. Many turn to real estate investments to beat inflation, but this contributes to a housing bubble that exacerbates the income divide. The policies that maximize the price of public housing, with an increasing land value added, ultimately result in the housing yielding $0 at the end of the lease, making it more like a liability than an asset.
