Is rising cost of living making Singapore unlivable for the young? | Youths ask DPM Lawrence Wong 

One thing I really like about DPM Lawrence Wong. He's very good at paying lip service.

DPM said his mother's salary was 500sgd and the HDB price then was 30k. What he didn't say was that while salaries have gone up by 10x, the prices have gone up by more than 20x

Yes, we are not alone in this journey. Let's all die together!! Yay!!!!!!

Being a Singaporean living in Sweden for past 24 years. I felt that I wasn't given the chance to be independent or "grow up". I decided to moved to Sweden because I want to understand how it's like to grow up as adult and develop to be a responsible independent individual. I tried to take responsibility from my single mom but I still feel I didn't do enough. Life is too comfortable in Singapore 🇸🇬❤️ I felt my life was not complete. To grow up, I need to be pushed in deep water and learn the skill to develop as adult. I think youngster must be given a chance and develop skill to survive in harsh situations in order to appreciate life not keeping complaining price too high, too hard etc. I am so lucky that Sweden offers me a soft start on this challenge. I learned how to support myself, start a business, new languages, of course I also learn many mistakes the hard way, but I need all that in order to grow. I am so glad given the opportunity to build a life abroad without family's help. My daughter who moved out at 18, she learned that she has to work to pay rent, upkeep a roof, to manage finances herself, etc.. I am so proud of her and glad that she is raised here and given the chance to learn how to survive on her own. She is currently studying at University hoping to serve and help others in future.

That is why more people are not having kids, there's no point bringing a child to this world to suffer where the only purpose in life is to do well in school and get a high paying job that they might not even be interested. Unless the parents are rich enough to give them a better option when they grow up.

Quote of the interview: "Government needs revenues"

CNA.. I've Been here, and I will be here again. With all due respect, good morning Sir DP Minister Sir Lawrence Wong.. #ForwardSG. 🇸🇬🇸🇬🕊🕊🦋🌻✌⚡⚡👌🤗🤗🤗

The most difficult part of living in Singapore is to live within your means. People want to be seen to be as good as those around them. Otherwise whatever they have, they will not be happy with it. Imagine having a Toyota Camry and feeling a hollow on your stomach because your former classmate is driving a Mercedes 280.

To resolve to be near their parent staying in matured estates, the only possibility is to provide more transportation pathways to and from these areas concerned such as MRT and buses to and from matured estates to compliment ease of access.

They make HDB so expensive that all young ones are in-debt to them for the next 60 years from your first income and you will contribute to CPF & take loan from your own saving and paid interest for your own money. You cannot get out of this control cycle and they use your contribution to gamble in the unknown and unstabb economic.

Eh bought 30,000 house at MARINE PARADE with 500 salary (60 months to pay off) . Now BTO at punggol cost 600K+, salary got increase to 30,000 or not? We need 25 years dual income bro.

$30,000 flat while earning $500 is 60 months of work. $700,000 flat while earning $4000 is 175 months of work. Even bto costing $500,000 earning $4000 is still 125 months of work.

3 room flat BTO has been priced at a cheap

If a $ 30,000 property could be bought with a $ 500 salary, this is a factor of 60. Thus if what the lady said of a house costing $ 700,000 today is correct, then using this factor of 60, our current salary should be $ 11,666....

30 years ago average individual income 2-3k, 4-5 room flat around $100-$130k. 30 years later, average individual income 4k-5k, 4-5 room flat around $500-600k. Income x2, but housing x5/x6. Let me know.

I fkn hate the Idea of a BTO too. So bloody typical and one way road. But what to do. SIAAAANN af to be a Singaporean adult

Buying power gone down from previous decades.. do the exact calculations.. my parent bought a 4room for 40k.. their pay was $1k, now is 4-500k around 10x b4 but pay is much less than 10k/month..

A Singaporean now living in a Western country for the short-term. I like it here where I'm living - very liberal, you get to voice your opinions. I have observed peaceful protests on the streets where people "fight" for their causes and for the change they want to see. I observed that Westerners as compared to Singaporeans are more respectful and they are mindful of their behaviours and manners toward others, treating others courteously. People say sorry even for blocking your way by accident and for interrupting you when speaking. In Singapore, people are more often than not rude and impatient toward others. I think we are often too busy living our lives in a fast-paced society that we forget to relate to other human beings respectfully and patiently. Where I'm living, the arts is a big thing and much more progressive, there's plenty of opportunities to pursue non-STEM careers. Big big emphasis on work-life balance here as well, instead of the slogging culture in Singapore. Ironically, people here gets work done efficiently and they reply emails very quickly. I don't know why Singaporeans are working long hours and are still not efficient, especially in replying emails. What are Singaporeans so busy with and why need to work long hours? I feel there's more room to reach your potential and be yourself here, in Singapore I think the culture makes one feels more restricted? Maybe it's how we've been governed. Singapore is a great country, but there's still a lot we can learn from other countries and how they function. One more thing, you don't feel the "rich-poor" divide here. Even professors take train and ride bicycles - no need for fancy cars. People here are down-to-earth (well from those that I've met) and I like it.

Housing affordability will remain the most significant cost item for all Singaporeans. It is also apparent that while we progress as a country, the income gap between the rich and the poor is widened, and we need to handle this social issue carefully and very quickly. Singaporeans are blessed with a subsidised HDB housing scheme, but the HDB resale prices are rising, in line with the increase in demand for private housing. With the influx of super-rich foreigners who become PR and citizens and the super high-income group pushing up prices, the average Singaporeans will have more financial stress. The government should conduct thorough research into this.

The minister just brush off everyone with known facts from World statistics & not giving constructive plan to rectify the sudden increas of- the cost of living. Citizen cannot even find $2.50 meal these days.

Is in fact scary--- the exorbitant HDB price!

Last time parents give downpayment for condo or ec. Now young couple 4 Room flat ask the parents for downpayment, that's our society now.

When we got married, my dad told us to pls move to our own place for family harmony as my mum has strong opinions, and we might argue. My mother in law told us to pls move to our own place for family harmony as my father-in-law had OCD. Sometimes, it isn’t us who wanted move out. Lol. Also, I have to agree that living by ourselves made for better r/s btw us and our parents. We spend lots of time together still but having our own living space and personal space make a difference.

COE Record Levels. Who Controls THE quota ? HDB Record Highs. Who is THE Biggest Landlord ? Petrol Record High. Who Increased petrol tax IMMEDIATELY after GE 2015 n 2020 ? Who Increased GST ? When U Found the Answer; then You Will Know WHO has CAUSED The INFLATION n HARDSHIP

Seriously, it is getting super expensive everything in Singapore. The organising of the dialogue itself proves it. It is more and more even made for rich and powerful people or powerful officials or upper middle working class and above. Gics and related companies and mncs are dominating the local economy. Our general population financial literacy sucks as we don’t have formal education on this. Cpf never going to be good in fact worse and worser year after year. One percent gst to 8 percent is compounded to drive up property prices and living costs and taxes. Rebates and subsidies and vouchers by gov are just proving that they won’t help to resolve the root of majority unemploynent for middle and pmets and many are going to be property agents which is also a tough field, insurance agents and free lance and grab food and grab drivers…. This majority of middle age generation before Merdeka and pioneer are lost.

If the demand of HDB is so damn high, with long queues, then why is it still BTO and not like the past when they just build and sell?

Do more Lawrence, or one day the young will abandon the old. Same everywhere, not just Singapore.

I am more concern..about..my retirement....will I hv enough...despite...hving no debts...and a cpf having fully met..government required...both on retirement and midisave account ???

High price is all man-made (government made). People are not reproducing themselves, unless we have lost control and brought too many people than we can build, the price of housing should go down, and not up. Our birth rate is one of the lowest in the world now.

It's not easy for the young. The cost of housing is really too expensive. Buying a house is no longer a SMART goal but a pipe dream. My parents' generation could buy a house for 50 to 100 k on a 3k monthly salary.

Assurance is nothing but empty word at the time of high COE and HDB price. HDB was easily affordable with single income, now hardly with dual income. Solve the problem. Narratives and trying to shape and control narrative shall get PAP kicked out in rockrt speed. You dont overhaul the way BTO and HDB is priced, people shall overhaul the parliament and at least there is hope that the next one can do so, or young people shall go on the street with the HongKongers. Look at the problem squarely, and solve it with abosute resolve. Dont be forced to do it after election defeat. Keep trying to forced win narrative shall one day get PAP kicked out. Not because PAP is incompetent, but because it has kept ignoring the pulse and pain of the nation.

Lolz even his example of his mother time doesn't really help his case... he says his mother time her salary is less than $500 and bought their marine parade HDB at 30k OK... assume that is true then $30k/$400 per month = 6Years 3months. Now average HDB price is $532,768(first result on google) median income for 25-29yr Olds is around $4000 per month(first result on google) $532,768/$4000= 11Years. matter of fact is housing prices have outgrown wages.

The new estates (Punggol, Tengah) of today will be the Toa Payoh and Ang Mo Kio of tomorrow. Even in the rush to build more flats in new estates, DPM Wong is right to acknowledge that we mustn't repeat the mistakes of yesteryear to allocate insufficient land for estate renewal. Living near parents is important if we want to promote elderly to age in place instead of in eldercare homes.

“Don’t try to be someone you are not.” at 10:51. Probably sums up the whole 20 mins.

I feel so gaslighted.

You all believe this comedian ?

Wow, so comforting.

Absolutely right. Singapore now has massive reserves (estimated at over a trillion $), perennial Budget surpluses and billions more self-funding stat boards like SLA, LTA, JTC, etc. so the way the Governmemt does things also need to change. The younger generation are better-educated, more knowledgeable, more vocal and more idealistic. They want openness and transparency in government. PAP needs to change or therevwill be regime change.

Why ask a pap minister such qns, when he earns easily multi million salary

If dpm mentioned is affordable to everyone, hdb wont lower down its loan from 85% to 80%. Which requires higher down payment

Don't date women, don't start relationships, don't get married, don't have children, problem solved.

I believe ALL the questions from the floor were vetted well in advance before they could be asked. Talk about wayang...

DPM comparing his parents’ struggles with current generation “$30,000 flat against $500 monthly salary as teacher”. That’s 60 times monthly income. Current 3 room BTO flats in the east are priced at least $280,000 against median salaries for teachers at $4,000. That’s 70 times monthly income, at least. So please don’t tell me the government understands our struggles, policymakers alike.

PM Wong, You come from a wealthy family. Life was good for you. My home has no electrical appliances and we all sleep on concrete floors. That was during 60s

For mature estate Tear down old flat which Is 10 floor and below Rebuilt high rise flat Up to 20 floor or more

So the answer is "yes" and "we won't fix the problem". Got it.

I don't deny, Singapore has made significant progress but the stress level is too much and I believe there is no more job security. Going forward, many may lose their jobs when they are order. HDB BTO flats are not cheap..

The fact is that the largest real-estate owner in Singapore is government. Why would a land owner want the prices to go down? This conflict of interest will keep land prices and everything built on that remain expensive.

DPM's mother pay is 500 dollars Teacher's salary's today is 5000 dollars, 10 times the salary then. DPM's parents house cost 30,000 Today's housing is 500,000, 16 times the cost then. The relative change in cost does not match the increase in wage.

We are renting the unit for 99 yrs, we do not own the house.

if you dont have a solution to the housing problem, at least dont make the problem worst lah please? dont assume u can import until like you gonna win GE 2025 with your new citizens

I think SG done well with inflation. Food prices have not increased THAT much if you choose wisely. Avoid foodcourts that invested heavily in renovation

Can someone check for me if the Estimate below is correct? Assuming the HDB unit is $400K and let's base on 30 years loan = $400K + $294K [loan interests] = 694K, nearly 3/4 of a million dollars. Also I heard that Someone said HDB will revert to Zero Value at the end of leash. Thank you for Checking.

I Think you guy are really HAPPY now. There Were no question about: How can i make Singapore better AS GREAT FATHER… actually you guys got all things…

i cant even buy hdb because me income is not high as i was challenge by Foreign Talent. During interview the interviewer say we can pay you that high salary as we can get more Foreign talent. If you can get less than my foreigner we will then hire you. i feel so sad.

Young citizens ‘not enough land!’ But rich foreigners can easily buy or those PRs! What a crime!

I believe title should be "Youth ask DPM Lawrence Wong" not Youths.

PAP just don't ANYHOW import Foreigners will be enough food and housing and hospital for Singaporean.

As said by another commenter, $500 salary for $30000 HDB in the past is 60 months work. $4000 salary for $700000 HDB is 175 months. And you dare say we have prospered? The purchasing power of the very youth you promised the Singaporean dream to has shrunk by 3x. Forget "work hard in school and get a great job" . Why work hard when after all this, your purchasing power remains the same as a low-skill labour worker back in the day? I do not deny that Singapore has prospered; but apparently we the young are not to be included and supported in that dream. The people and the workforce are the economic engine of the country - by excluding us you risk losing your industriousness of today and tomorrow. (And still wonder why we suffer from brain drain?? 😂) Maybe it's time we lie flat like our Chinese counterparts. This is not the deal we were promised.

Its actually not the government but companies keep rising the cost of living. As wages get higher. Such as food grocery, and apartment housing cost. People in singapore are so blind that they think its inflation.

Meanwhile in Malaysia.. many land but Malaysian cant affort it.. sad

here is something for everyone to think about. do you want to live or do you want to survive. cuz in Singapore, most people are surviving

I think a bulk of this issue that is not addressed and brought up is that our standard of living have definitely increased, and our demand for what might be a more "luxurious" lifestyle has increased as well. WE need to also look at the DEMAND and SUPPLY of these goods. The market has to correct itself somehow, so it's either cost go up to reduce demand , or we invest in ways to shift the supply curve to meet the new demand.

My No.1 concern for the youth is not the housing, but the jobs, ie. is it difficult to get a job after graduation, as MOM also actively recruiting FTs overseas? It seems like all participants already have jobs, thus, none have this question.

How else to write off gic and temasek investments in ftx and genesis?

HK actually has lands and mountains to build and expand… SG surrounded by seas eventually will run out of places to reclaim plus climate change, sea level rising & ponding turn into major floods… … … Running outta time & space… cage homes coffin spaces rotated bed space (already reality, 20 plus people packed into a room) could be in the future.

Please ah, there's still people earning below 2k and even 1k.

Back in the time when houses were selling at 30K, salaries were around at 500 dollars, today's salaries are around 3000 dollars, that's just 6 times more that 500, the houses should be at 180k not 700k. Wong is spewing half truths no honest at all.

DPM Wong, I sincerely think you missed the point brought up by the youth in the 1st segment/1st question regarding headline prices. You yourself said it, a flat that your parents bought at $30k when they earned

The problems of young Singaporeans with regards to housing & cost of living are: (1) Not realistic, and tend to reach or spend beyond their means. (2) Contentment (of being employed, having 3 simple meals a day at hawker centres / coffee shops, a roof over head, reasonable good health, take public transport, no debt) is a rare asset and value. (3) Frugality is not in their value system. Because most young generation need not help put food on the table for the family and helped the family make ends meet. Hence, they spent on trendy food & items and purchase at the spur of moment. They will not ask themselves 2 basic classic questions (Do I really need it? Can I make do without it? ) before making a purchase. (4) They prefer to live near their parents in mature estates. Also prefers a bigger HDB flat at 1st purchase rather than basing on current spatial & affordable needs basis. Hence, pay more in mature estates and wait longer for BTOs.

One problem about most Singapore hosts, they have no idea about their duty. For this conversation, the host should ask questions about the opening video before inviting the audience to raise questions.

High BTO prices, high COE prices. Public transport very cheap. Food is affordable. Inflation partly caused by GST, COE, petrol duties, salaries of low level workers, etc..

We can Fool our Brains to Accept what is adverse to us by saying or chanting "everything is Boh Bian one. Lan lan lor, HK lor". Rinse and Repeat. Another pro-tip : Compare with the Worst in the world eg. HK housing. Dont compare sg with sg to see if sg is Progressing or Going down hill. This way, we have a long way to go

I think right now I am 30 yr old. Doing my studies in ite part time and working part time . Right now as I continue my studies I still need to pay Adobe illustrator? Because my part time course needs it when I check with ite part time student in ite did not have any entitlement for student price . Since gst is increase so as a part time student why I cannot have entitlement ? Also I myself used to have mental health issue back in my days . And I receive Zero help when I am in school when I had my mental health I am already doing my n-levels and my grades were affected. I drop out school since 16 only recent I started to study again . What can the government help us as a young adult ? Because all these lead to gst increase. This is my situation right now . 😢😢 and I do hope mental health issue have to be a focus topic . Since is expensive to visit just a doctor So right now for me getting married and having stable job even having a house one word impossible so expensive

....doesn't solve problem, the cost/amount of housing/salary gap gets bigger then previous 30 years ago

God bless Singapore 🇸🇬 ❤

Don't care what others say or do. Do only what you are comfortable with. Be flexible and willing to adapt to situations. Just as what some older Chinese says: See dishes eat rice; meaning eat more rice when you see less dishes; eat more dishes and less rice if you see more dishes. Life is like that. Don't be too disturb by what is happening around you; life still goes on.

Very interesting discussion.

Why ask kids who still have not experienced sufficiently government sponsored foreigners, who stepped on their heads in the work? Ask those in their late 20s and 30s

We do have a large amount of new citizens joining the sg family and likely the ones driving up property prices ridiculously. In HK, Beijing, its normal for price hike so they come here, they are willing to pay above market price for a resale flat... That's the main driver of price hike that gov can't share right??

how many properties did per 1 pap minsters and the whole party invest?

Government can look at building subsidized communal living spaces, shared living room, toilets, kitchen while having personal rooms, for singles and allow singles above 25 to buy / lease such units. Communal spaces also promote single young adults to have more interaction with their counterparts and solve the issue of "adult children living with parents".

From the start, we saw a video clip about those younger ones' opinions about Prices of HDB today, about getting lower salary due to lower education, about hating one dimensional approach of getting BTO..then start a family. Hope these are just their very individualistic opinion and of few. I am a little concerned with the very narrow mindset and superficial view of things about Singapore. As time flies, inflation is a phenomenon that is prevalent everywhere and in many countries. There is nothing unusual about rising prices comparing the past and current. In many countries, the type of qualification will dictate the type of pay sacle one will get. So, nothing is unique to Singapore in this aspect. With inflation that is happening everywhere, the cost of living also increases. Whether Singapore COL is unbearable ...we can make a relative comparison to our neighboring countries. To make a fair comparison, COL needs to tie with Quality of Living, QOL. COL...covers aspect of housing, food, health, transportation, and education with Quality in mind. Understand what's happening in other countries, then one will appreciate what we have today, as a Singaporean. 身在福中，要知福。

Young couples cannot afford housing and also need to wait for 5 years to get a BTO is ridiculous. Government needs to solve this or else ...... Same excuses, saying this situation is the same world wide. What BS.

if conservative men below 35 dont have own house, how dare to find girl? i think is also partially due to western influence but i wouldn't want to do the needful for singapore's population growth when my family is in the house. i rather they let people have smaller places for singles that are subsidise then if people settle down next time then can upgrade and use the cpf from the first place they owned. honestly, our architecture standards are not like 40 years ago and we can make places work looking like studio apartments and whatnot. while we need to leave the nest, the government can control the sizes of the trees that we birds build our own nests in as well as the prices of the sticks we use to build the nests.

Old generation work hard they dosnt know dont like to know i realy respect Mr LEE TEAM

3 room or 4 room flat? Is a fact the cost of living is very high. Salary increase can't catch up with inflation

Very few people are staying in CBD but the prices super sky high.

Unless your parents now had laid the foundation stone NOW and pass the kids the high end condo, landed, most youth will remain stuck in their HDB rut and at most end up with some low end condo. Many might even be struggling to just pay for their one and only HDB. The youth will never be able to upgrade from HDB, condo and landed like what their parents did in the 70s, 80s and early 90s. Or own more than 1,2 or even 3 properties. This is just housing. The most worrying part is that these youth will never be able to retire comfortably and need to work pass their 60s and 70s and still remain stuck in their HDB.

in the olden days we use to work but food and home provided now we work for money printed from thin air to pay for food and home

Markedly Well choreograph Q&A image session and sitting arrangement. Well done PAP!

Good luck singaporeans, forever rising cost of living and forever wait for pap party to give money

move to indonesia, we are open

While most of their parents worked hard to have a stable/comfortable life, their children fight and aspire to have a luxurious life/better life than their friends on social media... Not being able to travel yearly makes them feel poor. Its a very different expectation.

Wow, she is available.

Even a $0.50¢ coffee is available occasionally and is diluted. : (

It is unlivable even for single. We are not qualify to buy BTO and resell is too expensive to purchase. Yet we are also consistently giving back to the society (tax and others) with no support/ minimum support from the gov. How about looking into this to support the forgotten and neglected group.

Well as a youth, we may have to move out of the country in future. Maybe johor...

I'm happy just to have a roof over my head. Never thought of moving out. If I move out, who's gonna take care of my parents when they grow old? Plus, when you're hardly even home during the week because you're out working, it never makes sense for me to go on a 6-digit expense project spanning my entire lifetime if my current place of residence can already sufficiently give me a home and last till the day I die.

So DPM’s mum paid 600x her monthly salary for the flat! I bought mine at 100x my monthly salary in the 1980s, paying the installment half by salary and half by CPF to make sure I can afford! If I bought 200x my monthly salary, I will need 200 months to pay my installments! So I took 100 months (9 years) to pay the installment!