City100a Neutral Newbie November 30, 2009 Share November 30, 2009 Median income in S'pore dips by 1.2% Mon, Nov 30, 2009 AsiaOne The median income for all employed residents dipped by 1.2 per cent from $2,450 in 2008 to $2,420 in 2009. Although median monthly income for full-timers rose slightly by half a percentage point (from $2,590 to $2,600), income as a whole fell as part-timers' share of employment rose. Related link: ↡ Advertisement Link to post Share on other sites More sharing options...
Little_prince Supersonic November 30, 2009 Share November 30, 2009 simply because it's PR that buys it... not locals... for example... the Queensway 4rm hdb that sold for 650k is bought by an Indo.... Link to post Share on other sites More sharing options...
City100a Neutral Newbie November 30, 2009 Author Share November 30, 2009 simply because it's PR that buys it... not locals... for example... the Queensway 4rm hdb that sold for 650k is bought by an Indo.... wa so expensive queensway use to be nobody wants that area now so popular the question is i am confused by the fact the bank i just visited ocbc tells me that even now there are many people applying for bank loans to buy property it cannot be majority are bought by pr right Link to post Share on other sites More sharing options...
Strife Neutral Newbie November 30, 2009 Share November 30, 2009 Almost everyone applies for home mortgage loans. Which part is confusing you? Many people are borrowing to buy property or many people are buying property. Link to post Share on other sites More sharing options...
Joseph22 Turbocharged November 30, 2009 Share November 30, 2009 wa so expensive queensway use to be nobody wants that area now so popular the question is i am confused by the fact the bank i just visited ocbc tells me that even now there are many people applying for bank loans to buy property it cannot be majority are bought by pr right Why Not? Link to post Share on other sites More sharing options...
City100a Neutral Newbie November 30, 2009 Author Share November 30, 2009 Almost everyone applies for home mortgage loans. Which part is confusing you? Many people are borrowing to buy property or many people are buying property. you mean there are so many rich people in singapore Link to post Share on other sites More sharing options...
Strife Neutral Newbie November 30, 2009 Share November 30, 2009 I mean everyone buys their primary residence/property at some point in their life. It is pretty much a neccessity, i mean comeon, its a roof over your head. And almost everyone borrows to buy. I dont think an explanation is needed for the need to borrow. 500 - 700K hdbs is definitely not the norm. You shouldnt link a record HDB transaction with a median wage figure. Link to post Share on other sites More sharing options...
Vextan 1st Gear November 30, 2009 Share November 30, 2009 (edited) you mean there are so many rich people in singapore this sentence, i must agree with you. my friend work in a local bank and has access to account details, she tells me that, in local context there are many many rich people with accounts having millions of dollars horded inside multiple accounts. these are mostly the aged people. otherwise where do you think the bank get so much money from to lend to businesses ? Edited November 30, 2009 by Vextan Link to post Share on other sites More sharing options...
Thargor 1st Gear November 30, 2009 Share November 30, 2009 I just dont understand the statistics if median income is like that then how come so many people can afford 500 -700K HDB flats and more frightening million dollars private flat as i have been to see the silversea at east coast, 2000+sq feet apartment for >4million my god this is obscene Bro...statistics statistics statistics...hehe I used to be a business intelligence consultant (specializing in statistics). I give you an example of 10 person with their monthly income: 1. 2000k 2. 2000k 3. 2000k 4. 2000k 5. 2000k 6. 3000k 7. 10000k 8. 20000k 9. 50000k 10. 100000k For the above, the median is 2500k while the mean income is 19300k. So which is a good representation of the above income for that 10 person? I think you have your answers there (for me I will disregard both set of mean/median) Link to post Share on other sites More sharing options...
Rickster 5th Gear November 30, 2009 Share November 30, 2009 Bro...statistics statistics statistics...hehe I used to be a business intelligence consultant (specializing in statistics). I give you an example of 10 person with their monthly income: 1. 2000k 2. 2000k 3. 2000k 4. 2000k 5. 2000k 6. 3000k 7. 10000k 8. 20000k 9. 50000k 10. 100000k For the above, the median is 2500k while the mean income is 19300k. So which is a good representation of the above income for that 10 person? I think you have your answers there (for me I will disregard both set of mean/median) Thats what we do best! Link to post Share on other sites More sharing options...
Acevin Clutched November 30, 2009 Share November 30, 2009 Dun mind I side-track. Pple had been saying low-income, middle-income and high-income. Anyone knows what's the salary range for those low - high income earners? and the basis to derive those range? Thks. Link to post Share on other sites More sharing options...
Thargor 1st Gear November 30, 2009 Share November 30, 2009 Dun mind I side-track. Pple had been saying low-income, middle-income and high-income. Anyone knows what's the salary range for those low - high income earners? and the basis to derive those range? Thks. Just a wild guess, someone pls provide actual formula... High Income - Greater than mean national income + 1 standard deviation Low Income - Lower than mean national income - 1 standard deviation Middle Income - Between high and low. Link to post Share on other sites More sharing options...
Ender Hypersonic November 30, 2009 Share November 30, 2009 Bro...statistics statistics statistics...hehe I used to be a business intelligence consultant (specializing in statistics). I give you an example of 10 person with their monthly income: 1. 2000k 2. 2000k 3. 2000k 4. 2000k 5. 2000k 6. 3000k 7. 10000k 8. 20000k 9. 50000k 10. 100000k For the above, the median is 2500k while the mean income is 19300k. So which is a good representation of the above income for that 10 person? I think you have your answers there (for me I will disregard both set of mean/median) That's the danger of using small sampling, especially when the sample selected deviates so much .. Error will lessen as sample size increase. I wouldn't use these set of sample for any analysis.. Link to post Share on other sites More sharing options...
Seaweed 1st Gear November 30, 2009 Share November 30, 2009 because they take 35yrs loan...pay until die... Link to post Share on other sites More sharing options...
Throttle2 Supersonic November 30, 2009 Share November 30, 2009 medians tell at best, a distorted story. cant draw any conclusion from this report. Link to post Share on other sites More sharing options...
Gnoikj Neutral Newbie November 30, 2009 Share November 30, 2009 Ha...it makes for good reading...things are never as simple as they look...people who use this to shout and justify that Singaporeans are getting poorer are just using an excuse... Link to post Share on other sites More sharing options...
City100a Neutral Newbie November 30, 2009 Author Share November 30, 2009 this sentence, i must agree with you. my friend work in a local bank and has access to account details, she tells me that, in local context there are many many rich people with accounts having millions of dollars horded inside multiple accounts. these are mostly the aged people. otherwise where do you think the bank get so much money from to lend to businesses ? yes it is true then i also heard that many young people take loan up to 30 years it is just too long because interest paid would be HUGE Link to post Share on other sites More sharing options...
Sdf5725 1st Gear November 30, 2009 Share November 30, 2009 I just dont understand the statistics if median income is like that then how come so many people can afford 500 -700K HDB flats and more frightening million dollars private flat as i have been to see the silversea at east coast, 2000+sq feet apartment for >4million my god this is obscene That is why it is called BUBBLE. For stupid locals who rush for it using their own limited savings, good lucks to them. Recently, seems like the bubble going to burst soon. ↡ Advertisement Link to post Share on other sites More sharing options...
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