Stagnant wages, immigration fuel Singapore squeeze
SINGAPORE — Singaporean Ramzi Mohamed is tired of sleeping in the living room of the two-bedroom apartment he shares with his mother and older brother.
His problem is that housing prices in the city-state are up almost 70 percent since 2006 while the 29-year-old gym administrator’s monthly salary of 1,200 Singapore dollars ($938) hasn’t budged in five years.
For comparison…1200 SGD a month is our grocery bill, twice our electric bill, or 1/4 our rent.
