The news of this week contain quite a number of news related to property prices and COVs. Indeed, COVs have reduced, but I could not help but think about a report which I read in January 2013.

In the report, it was reported a young couple applied for an executive condominium costing $722,000 through the help of a loan of $144,400 from the gentleman’s father as a 20% down payment as the couple has only $15,000 in their savings and earn $5,300 together.

Well, the couple’s story tells us a thing or two about financial planning. With a combined income of $5,300, buying an executive condominium worth $722,000 is buying an asset of that value to me may be stretching the couple’s pockets a little bit. I would think that a couple should just buy a HDB flat which cost much less if a couple earns less than $10,000 …