Extortionate Prices

Our flat owner just informed us she would increase the rent from the current S$1450.00/month to S$2500.00/month next year. This is a 72% increase!

Raising prices seems to be the most fashionable thing to do these days. The prices at food courts, coffee shops had risen by 5-10% in the recent months. The housing market is the worse. HDB resale prices have climbed around 10% for the year, rents have gone up unreasonably anywhere from 30% to more than 100% for condos. HDB rents have gone up too, albeit at a smaller percentage.

I don't know how these prices can be sustained. How much does an average Singaporean earn? The last time I heard, the median salary is about S$3800, which is considered to be 'high' pay. After 20% CPF contribution, disposable income is only S$3040.