Agree, and strongly suspect this would be more conducive to raising the living standards of the average person vs. raising gdp by 1% of which 99% will end up benefitting the top 10%.
Yep plus raising GDP usually means more production of electronics parts or chemicals which means more air and water pollution, all things considered.
Overall, everything is down/negative in my opinion. Only for the higher salary earners, ex-government employees that get the 18% interest on their savings. They got the jackpot.
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Yes and early retirement in their 50s in many cases.
Most of them never paid income tax either.
The biggest jackpot was people who owned land decades ago . But that game is played out. Whole families just live off grandads assets passed down.
I know Taiwan very well , its political bind and also itās social stats and how older people control almost everything , I donāt really see where things will turn around at all.
Itās heading for slow decline overall because thereās no willingness to make radical change AND there are multiple macroeconomic and political factors working against Taiwan.
Canāt even buy a cheap house here either even though these are so many issues.
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You mean concrete caves!
Yeah concrete cave in the sky for 400k USD.
What a life.
This is exactly why my grandpa and uncles are rich in Taiwan, my grandpa owned a lot of land in what is now central Taichung, sold it and gave most of the money to my uncles.
This is such a common story in TW. This is one additional reason why that generation believes in putting all their money into a house at any cost cause they saw how well it made them rich during their generation and they think it will work exactly the same in 2018
They also thought getting a college degree would make their children set for life.
Well see how all this plays out.
Yea 400k= Mouldy damp roach infested studio 50 yr old concerete building above 7-11 in Cental Taipei with propane tank stoveā¦living the life
Come to é«é, where you can buy a very nice place for under NT$6mn and live in a kingdom where fruits and vegetables and ä¾æē¶ are at significant discounts to the land of the north.
Ask your boss if you can video-commute to work. Your money will go much farther and wider. And donāt mention about pollution, as that new coal plant on the north coast (as planned by DPP govāt) will make friends with your lungs.
ā¦which is why I rent my mouldy damp roach infested two bedroom 50 yr old concerete building above MRT station in New Taipei without propane tank stoveā¦wait a minuteā¦
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Unpopular opinion: With the recent drop in prices and if you calculate these prices in EUR and SQM instead of NTD and ping, many areas of Taipei are actually not that expensive compared to similar sized cities in Europe.
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Except Taipei isnāt a tourist and historical mecca like many capitals in Europe.
But I really get your point, because I probably would have moved back to the European capital I am from if it wasnāt so god damnned expensive to buy there too! (amongst other issues but this being the biggest right nowā¦jobs and pay would generally be more abundant than here) .
Global property price inflation is a major problem for many of us, but not for all obviously.
We are still expected to pay 400k USD in places like Sanxia or Linkou. Thatās just too much.
The rather pokey apt I live in bog standard Xindian, 20 yr old dalou with nice view (for Taipei ) and a tiny crappy kitchen would cost 500k to 600k USD to purchase .
I would gladly move to Kaohsiung and buy a place (prefer open spaces there and bigger apts) , sticky lungs and all, but there arenāt any jobs there for me, or at least a job that I could do better than survive on.
Same with the whole island except for Taipei and Hsinchu. Any my kids , what would they do after graduation . Leave to somewhere else.
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There was a documentary on German TV. Former East Germany, family looking for a new 3 bedroom apartment (~30 ping). Min. price: 450K EUR. (= 520K USD currently). There are not many jobs there and locals can not afford it. 94% of buyers there are not from the region.
Pretty much anywhere that youād actually want to live these days ugh. I donāt know any young people my age able to buy a house starting a family these days without family help.
Itās a new phenomenon in Germany unfortunately, until recently it was quite reasonable I believe . I guess it was about east Berlin.
I wonāt give you the numbers for Munich. Taipei looks like a bargain compared to that place 
Yes but Munich is a very rich thriving city with a lot of high paid jobs. Beautiful too. Great beer. No immediate danger of attack. Growing population I guess. It simply couldnāt be compared to anywhere in Taiwan. Same with many cities in Europe.
Iād rather pay over the odds in somewhere that has better potential long term and looks nicer .
But of course itās painful for people there too.
Taiwan is way too unbalanced only place for decent paying jobs are in Taipei area and Hsinchu, thatās it. Everybody wedged into a small part of the island.
Leipzig actually. East Berlin is more expensive than that.
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Name one small balanced country.
Talking about Taiwan here.
Singapore and Hong Kong are balanced , their whole country is a city :).
We got 22 million people here we can have more stuff in Taichung and Kaohsiung