SINGAPORE: A recent post comparing the increase in prices of an HDB unit and that of satay caused a bit of a stir on social media, and commenters debated, among other things, whether it’s best to save
or spend.
Mr Yu wrote, “15 cents satay in 1977. HDB in the 1970s cost around $10,000. Today satay $1. HDB $700,000+ . Congrats to all HDB owners.” One wrote that the monthly salary for a hotel chef was only $280 in the 70s. One commenter had a “simple” explanation: “Land is finite, so property values will increase more.”
Historically, housing prices have risen faster than inflation, meaning housing becomes more expensive over time, even when adjusting for the effect of inflation.of St. Louis has data on housing prices, the Consumer Price Index has risen from 30.44 to 303.294, an increase of 896 per cent.
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