Earlier this month, Ministry of Finance published an Occasional Paper “Income Growth, Inequality, and Social Mobility Trends in Singapore”. This paper reivew trends in income growth, inequality, and social mobility in Singapore. It also outlines theGovernment’s approach and policies to sustain a fair and inclusive society. This is an update of an earlier paper published in August 2015. This paper highlights various interesting data that intrigue me. The one that caught my attention the most is this following chart. (Source: https://www.mof.gov.sg/news-resources/newsroom/occasional-paper-on-income-growth--inequality--and-social-mobility-trends-in-singapore/) Singapore is known as a country with high home ownership. What surprises me though is how high this home ownership really is. Across all household weath percentiles, property equity constantly make up almost half, if not more, of the total household wealth. This holds true even for the bottom 20%. This means that half of our net worth for most of us is actually locked into something very illiquid that we might not even unlock the value out of....