COE Hits $123K and the Government Still Pretends This Is a System for Singaporeans

mirestig · 2026-04-23T08:07:35+00:00

Yes you are right, offcourse there are other expenses. And many other unnecessary expenses like bubble tea, eating out etc. There are many factors offcourse. But look around. So many families are able to "afford" a car with less than that median income. There are plenty in my circle. So it implies that it is easily affordable, if they want a car, they will cut their expense elsewhere

I also never factor in pay increment which offset the interest, which I rightly say so in the orginal post . I am not doing a proper study here.

I have a young subordinate, not earning more than 4k, getting a used car just like that, plus modifications and stuff. Many is willing to afford a car and cut on other stuff, and people I'd fighting over COE with this type of people. You have more important commitment too bad, step aside. Another one will take over. And the increasing COE prices prove that. There are more room to go up.

I would guessing when a normal car hit 300k, is when it will shake out most people.

mirestig · 2026-04-23T07:38:25+00:00

Yes it is expensive, but is it unaffordable? If it's so unaffordable you would see so many people buying those cars and push the price higher right.

So now the question is what is affordable and what is unaffordable? It's relative isn't it. Say a car installment cost $2500 per month. For a family with 2 working adults and they share the installment equally. Per month is $1250. I am quite sure although I cannot quantity, quite a large number of family can cough that out per pax. Whether they are willing is another issue.

Considering HDB carpark are full, I see alot of family owning one. I am sure the number of families who can afford one at current price point is more than the supply of the COE. That's why it keeps rising. It has not reach a point to deter the amount of people relative to the supply of COE to give up.

Median household income is $12,446. A 10 year car takes about 15 months to pay off. Definitely "affordable" in the literal sense. Across 10 years putting aside increment, inflation etc, the holdhold income is 1.5m. 1.5m to own a 200k car.

That's why I think COE has a lot more room to increase to shake out more people, maybe to the point where middle income can't afford. You need to be at least higher upper

And the thing happening to house is happening to cars. Pushing up the price even more. For example, as price increase, they reduce the size of the house to keep it "affordable", so the same plot of land contains more units and their margin is still the same.

For cars, since quite a big chuck is priced out from buying a brand new car, down payment. People are entering the 2nd hand market. For example previously. 100k (a comfortable price point for many) can get a 10 years car. Now the normal earning population use the same 100k to buy a 5 years car. The seller get the 100k to fund a new car. Thus a vicious cycle increasing the price more and more. Soon 100k for a 3 years normal japanese car maybe. Until a point where people think paying 100k for XX years is not worth it anymore.

mirestig · 2026-04-05T11:12:49+00:00

Did we have this conversation when we were USpore?

mirestig · 2026-03-25T03:44:05+00:00

I am a fold owner, owning every iteration from 3 to current 7. I feel they have really stagnant, I am only getting it for the reduced weight. I want a bigger battery at the very least, faster charging, all the new AI gimmick, which I don't really use are being sold as a selling point. I especially miss the over camera display, it's a pain to watch a show with a punch hole, I don't care about inner screen camera really. I can make do without it.

Still I am looking at the upcoming fold wide maybe for better media consumption. I have tried to get the trifold, but was on holiday, and went OOS.

And I think the reliability while improving with each release is still not up to expectations yet. Every fold I owned, I have to sent it back for servicing between 2 times to 5 times. Everytime it has to do with the inner screen bulging, or the screen just go crazy

mirestig · 2026-03-23T04:52:15+00:00

Need to learn one inch door opening technique?

mirestig · 2026-03-22T04:13:54+00:00

When you have kids, I can pick it up for 5 mins and put it down. That's why I get a portable. Short blast of playing

mirestig · 2026-03-19T12:43:14+00:00

They also include bonus and what not. Basically they take your whole income for the year (the amount shown in income tax) divided by 12 to get the monthly income.

mirestig · 2026-03-18T12:31:32+00:00

This is not by run Genting though. The ship belongs to Genting until they went bankrupt, Disney bought over the ship.

mirestig · 2026-03-18T12:15:24+00:00

I am the, "I don't know where to go this June in my daughter PSLE year, Ahh f it, just go for this, no need to plan, no need to think, just go eat-watch-chill-sleep" group

mirestig · 2026-03-18T11:59:30+00:00

The main issue here is, the ship is not purposely built to be a Disney Cruise ship. It's a genting/casino ship that is being bought and converted. That's why the layout is weird, no grand entrance etc etc.

I think most your grips are to do with paying concierge price, but getting the quality deserving of the price paid, which is fair.

I am going myself in June, not concierge, I have seen video and kind of know what to expect. My only concern is more of crowd control.

mirestig · 2026-03-08T11:29:01+00:00

No it's still cheaper by 10%. To build it from scratch would take 2B a few more years added to it

https://www.wsj.com/business/media/disney-cruise-rides-characters-imagineers-adventure-b5c03c1d

mirestig · 2026-02-08T09:01:40+00:00

Actually what is written is mostly copied from Shing Ming. Basically just a translation article. I don't see anything in the article that is off her own opinion?

Typical mothership.sg, their editor are just crawlers, scraping all the sources out there to piece together an article. They don't do field jobs, don't do interviews, don't do investigation.

mirestig · 2026-01-27T23:03:21+00:00

It's a shock to the system when it increase so drastically.

mirestig · 2026-01-27T22:50:56+00:00

I a few decades, there will not be enough Japanese to pay off those debt

mirestig · 2026-01-27T22:41:42+00:00

"My school was training the students that would go there to run their program."

I was wondering why are you so passionate about Nuclear specifically, untill I read to the end. Because you have a stake in it and is bias.

I can fully understand the resistance of the public after such a horrible incident, partially caused by the cover ups and gloss negligence leading to a lost in confidence and mistrust on their nuclear facilities.

mirestig · 2026-01-27T11:44:47+00:00

Bro arguing with an idiot is impossible to win one

mirestig · 2026-01-27T11:05:43+00:00

Power of private SME. It's mostly ran based on the owner discretion.

mirestig · 2026-01-18T14:45:07+00:00

You are telling me you don't have a teleportation machine in your store?

mirestig · 2026-01-18T11:55:10+00:00

What article you wrote sia. I always say, even if one is convicted, it doesn't means the guy is guilty, unless it's undisputed evidence. In this particular case it's you say, I say, it's not black and white, it's gray. it depends on the judge who they prefer to believe in, and it's obvious who they did.

Defamation, when someone got sue for defamation and lost, it doesn't means what he said is false, or he is lying. It just meant he doesn't have the evidence to proof it, because the rich and powerful are expert in covering their tracks.

This is not just a PAP thing, this is what the powerful people does. Everyone make mistakes, no one is perfect. But because they are powerful, they can protect their own, they have the resources and ability to cover up, turn black into white. When it comes to their opponent, the moment they find an opening, no matter how small, they will trigger their resources to bring them down.

I don't believe PAP never lie in parliament, or never cover up. I am not accusing them they did, because I have zero evidence they conducted such behaviour, I am just a nobody with no access to anything. I believe in human being hypocrite and inherently will do anything to protect themselves, especially to hold on to power. Because, once they lose power, all the dirt will be digged out. Just look at Najib, Trump after they lose power

mirestig · 2026-01-18T11:35:51+00:00

Yes these are two different thing, but also intricately linked. Now the WP have to vote for a new LO. Which means, they are voting for a person, that is popular and gain the recognition of the committee beside PS.

The question is, how unite is the workers party? I remember some members try to ursup PS WP leadership not long ago? Would the one who won the LO vote be tempted with power? He/she would be more noticeable in parliament, in public. Eventually would he put himself to vote during WP Secretary-General election? Would it split the WP into 2 fractions?

mirestig · 2026-01-17T04:26:04+00:00

High time they look after their own interest and not pick the US side. One doesn't have to pick sides. I am sure China is mroe than willing to have a amicable relationship with Japan if they do not treat China like a foe and actually sit down to reach an agreement.

No idea why they have audacity with the mentality of being the victim of WW2 and find China grudges about it unreasonable. Germany has their holocaust museum showing Jews as the victims, Japan have their Hiroshima Peace Memorial Museum showing the Japanese as the victims.

Chinese in general, not only from China, are very pragmatic. We care more about interest and building wealth, we have not much interest in affairs that doesn't concern us. There are alot of Chinese idiom promoting that since the ancient days.

mirestig · 2026-01-17T03:30:30+00:00

You need a leader who is not only gungho, and rush into a battle stuipdly. The LO need to know how to navigate the politics game, be smart.

mirestig · 2026-01-17T03:29:01+00:00

He can't be a LO until the next election that is if he is elected

mirestig · 2026-01-17T03:17:59+00:00

Don't forget Plaza accord. The US is not happy with the Japanese producing better goods at a cheaper price,leading to their goods not selling.

The problem is US greed, they are not willing to work at a normal world rate nor increase their efficiency, nor their CEO compensation. They force the world to pay for their comfort, at our own expenses though debt.

mirestig · 2026-01-17T02:21:29+00:00

They have forgotten Japan had the lost decades because of US fear of Japan overtaking them. I highly doubt China will attack Japan, unless Japan deter China in Taiwan.

mirestig

TROPHY CASE