Zac

Singapore has the highest density of millionaire households per capita in the world. But most of that wealth is locked in property. Strip the home out and it doesn't look so rosy. The best arbitrage right now: earn Singapore wages, live in a JB bungalow. You get a HDB flat for ~S$1M. The same money gets you a 7,000 sq ft bungalow across the Causeway. A friend lives in a cubicle in Orchard and head to his bungalow with pool on weekend. "Travel sucks though?" Your commute won't be longer than the average person's in Beijing, Seoul or Jakarta. Door-to-door 90 mins each way is everyday life in most major Asian cities. Btw, I don't think RTS will solve the problem in 2027. Choose wisely. Earn SG wage, live JB bungalow. Best bilateral relationships.

Singapore has the highest density of millionaire households per capita in the world. But most of that wealth is locked in property. Strip the home out and it doesn't look so rosy. The best arbitrage right now: earn Singapore wages, live in a JB bungalow. You get a HDB flat for ~S$1M. The same money gets you a 7,000 sq ft bungalow across the Causeway. A friend lives in a cubicle in Orchard and head to his bungalow with pool on weekend. "Travel sucks though?" Your commute won't be longer than the average person's in Beijing, Seoul or Jakarta. Door-to-door 90 mins each way is everyday life in most major Asian cities. Btw, I don't think RTS will solve the problem in 2027. Choose wisely. Earn SG wage, live JB bungalow. Best bilateral relationships.

I call this the “fake wealth” cycle Most Singaporeans view property as the only way of wealth accumulation “Oh, I have this HDB that I can sell for $1.5M which means I can buy a $2M condo which will go even higher” What most Singaporeans don’t realise is that when you ‘sell high’, chances are that you buy high What ends up happening is a cycle of continuous mortgage and a perpetual debt cycle You think you’re getting millions for your property, but you’re actually just maintaining the same amount of debt, for your time Shortsightedness has killed many of the people I know and before they know it, they’re forced to work for an employer till they’re 65 just so they can pay off their $2M condo, and their $400K continental car

PSA: I now consider *all* of DeFi unsafe. Coding agents are superhuman at finding vulnerabilities, and smart contract security is too asymmetric: defenders need to fix every bug while attackers need just one exploit to steal funds.