Well... thxs for the informtion....but is pretty useless for me, as I'm already living a simply live.
I own only what I could afford - House, Camera and such. I don't owe any debt to any Credit Card. My housing loan is well under $500 a month.... with enough in the CPF to last a few years even if I became jobless.... and yes, no car for me.
If youngest have similar expectation like mine.... they too could afford a flat.... but sadly, most think they deserve a good life without working/paying for it.
SO, you could 'Play' on the word 'Lower Expectation' as much as you want..... wouldn't change the FACT that - You won't get it.... if you can't afford it - Blaming social, the Govt, the World won't change much.