[Post 314] Why Are Cars So Expensive in Singapore? | Street Interview

Summary

We hit the streets of Singapore to talk to locals about their car prices and to find out why Singapore is the most expensive country in the world to buy a car.

[Post 313] Why Even Rich People Will Receive CDC Vouchers in Singapore

Summary

Unlike the usual support scheme, the CDC Voucher Scheme is for all households, including the rich. So why did even your rich friends receive the CDC vouchers?

[Post 312] What stocks should I buy during a recession? | Money Talks podcast

Summary

With many signs pointing to a looming recession, is it time to add some resilience to your portfolio? Are there “recession-proof” stocks that are worth investing in? 

Alvin Chow, CEO and founder of Dr Wealth, charts a path through these uncertain times for host Andrea Heng on this episode of the Money Talks podcast.

[Post 311] Why buying a house in the US is so hard right now

Summary

Homeownership in the US is basically synonymous with the idea of the American Dream. Owning your own home, the story goes, confers both self-determination and security — instead of paying a landlord, you own a growing asset that will form the base of your wealth. Homeownership is ingrained in US society; the majority of American adults are homeowners.

But somewhere along the line, something changed. Homeownership has been way less accessible to millennials and gen Z than it was to their parents, in part because of dwindling housing supply. But even within that generational disparity, 2023 was a uniquely bad year to try to become a new homeowner. Watch the video above to see exactly how bad, and why.

[Post 310] I Live On $183K/Year & Own Four Rental Properties Worth $2.3 Million | Millennial Money

Summary

For his day job, Karun Vij earns $183,000 as a regional sales manager for an automation supplier. But before the age of 33, he has also amassed four properties, worth over $2.3 million. His ah-ha moment came about in college, when he realized the value of buying up student rentals -- and he doesn't plan to stop any time soon.

This is an installment of CNBC Make It's Millennial Money series, which profiles people across the globe and details how they earn, spend and save their money.

[Post 309] Why Used EV Prices Are Falling

Summary

Used EV prices are falling. Studies show that used EV prices fell somewhere around 30 percent in September and October 2023 from the same period in 2022. Used overall vehicle prices including ICE, hybrid and EVs declined by only around 5 percent. It bodes well for buyers, but some say it is yet another sign demand is faltering and that consumers may see EVs as a bad investment. Others say those fears are overblown. Interest rates are high and consumers are pulling back on spending. And despite price drops, EVs are still expensive.

[Post 308] How America Racked Up A $1 Trillion Credit Card Bill

Summary

Americans have accumulated a record-breaking $1 trillion in credit card debt.

This comes as the Federal Reserve's interest rate hikes have caused average interest rates for credit cards to spike to more than 22%. Rates on retail credit cards are even higher, nearing 29% on average.

"Even if you're working and your wages are up, your rent costs more, your groceries cost more, your gas costs more, everything costs more," said Tedd Rossman, senior industry analyst at Bankrate.com. "So people don't feel like they're getting ahead."

Despite rising costs and higher borrowing rates, a record number of consumers shopped over the Thanksgiving holiday weekend. The National Retail Federation found that more than 200 million consumers hit the stores that weekend, a few more million than the 196.7 million shoppers who turned out in 2022.

However, big box retailers like Macy's and Nordstrom have issued warnings about a slowdown in repayments on their credit cards over the summer, highlighting a potential risk to retail revenue this holiday season. The resilience of the American consumer will continue to be tested by the still-rising costs of groceries, gas and housing. And, not to mention, the return of student debt payments.

Watch the video above to find out more about how Americans' credit card debt ballooned past the $1 trillion threshold, and whether U.S. consumers can keep spending enough to keep a looming recession at bay.