[OC] Housing has become increasingly unaffordable in Singapore, more so than in other high-cost citiesMistaKid t1_iw45wmn wrote
Figures for income growth are wrong. Apples and oranges.
SGD2,296 refers to median household income in 1990. A fair comparison would be to compare it with the latest median household income, not median wage. The median household income is SGD9,520 in 2021, representing a ~315% nominal increase instead of 104% as indicated in the graph.
https://www.nas.gov.sg/archivesonline/data/pdfdoc/2001020903.htm
https://tablebuilder.singstat.gov.sg/table/TS/M810361
The median wage is SGD1,094 in 1990, and SGD4,680 in 2021. A nominal increase of around 328%.
(pg186 bottom for 1990 figures)
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