Yesterday, I had an insightful discussion with a very percipient person whom I admired a lot. After our discussion, I reflected on what he said about the issue of housing prices in Singapore and understood a deeper implication on why we need to keep our housing price affordable in Singapore.
For many years, I used to think of a house as an asset. But as I gained more financial knowledge, my view changed.
A thing can only be an asset if it generates income for you.I only have one house. It is a place where I seek shelter, sleep overnight and bond with my family. Does it give me income? The answer is NO. So, it is not an asset. If I sell it, I will have to buy or rent another one … I need a shelter over my head and for my family … its a need to
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