the poorest singaporeans are still rich by $100,000
this was reported in today's paper with statistics supported by hdb, the biggest housing developer in the country. stripped of everything, even when they have hardly any money to live on, the poorest singaporeans still have an asset worth about $100,000. how true is this number? how many of these flat owners, with flats bought at peak prices during the property boom, will have any money back if they sell off their flats now? how many are still holding to negative assets, a flat that they bought say at $500,000 and now worth only $300,000 and an outstanding loan of maybe $300,000? it will be nice to know how many singaporeans are in this category of asset rich but poor people. or how many actually owe the bank more money than the value of their flats.