What can Singapore families afford?

From Sammyboy's Forum:

What can the average SPORE families afford,a Condo?A Japanese car for
the household???

Let look at the DOS figures:

http://www.singstat.gov.sg/ssn/feat/sep2005/pg1-7.pdf

Lowesr 20% of households average income of S$795 per month(p.m.)

next 20% of households average income S$2,059.00 p.m.

next 20% of households average income S$3,379.00 p.m.

next 20% of households average income S$5,309.00 p.m.

next 20% of households average income S$12,792.00 p.m.

The average household income works out to be S$3,515.00 per month

The following table,based on the monthly salary of S$3,515.00 shows
how much the household would have earned per no of years wroking

Earn Year Amount

40 $1,687K
35 $1,476K
30 $1,265K
25 $1,055K
20 $844K
10 $422K
5 $210K

Pl take note that the households surveyed are RESIDENT HOUSEHOLDS which included about 500,000 P.R.s in Singapore who fall generally into the higher income bracket and who are highly mobile as there are always the foreign passports in their drawer,meaning that you should not include them in yr formual when comtemplating your own & yr family future and survival.

So if you believe that yr family can work for 40 years(20-60 or 25-65 years old) w/o interupption,and earning the national average income,then you should budget yr life based on the figure of about S$2 million,you are definitely not going to be able to afford that S$ 1 millon Condo or that S$200K Mercs,unless GOD bless you with some fantastic windfall which are rather difficult to come by these days.