Friday, October 28, 2011

(559) Supply and demand

If you have been following this blog, you may remember the cheap one dollar coconut rice for breakfast. Now I want to talk about the other end of economic contrast.

Not many miles from this little food stall, we find a private university. Many local and foreign students study there. A new residence facility was built. a small single room with attached bathroom was priced at $1,500. We need to be mindful that a new graduate engineer only earns $2,100 monthly while a new business admin graduate may earn only $1,300 a month.

You may say,"Well! A single room of course would be expensive!" Take a look at students sharing a condo across town: three girls sharing the master bedroom, two girls sharing a medium size room and one girl staying in the smallest room. The entire condo 's built up area is 900 sq ft. The girl who drew the lot to get a single room is the luckiest. She at least has some extra floor space to walk in or to sort things. The two girls sharing one room has only enough space to walk past each other between the beds. The master bedroom was the worst! After putting in three beds, two wardrobes and three desks and chairs, there is only enough space for one person to walk. Any other room mate has to sit down to let the first pass. My friend's daughter actually paid over five hundred dollars for such crowded living space. The only redeeming factor is that there is cleaning service for the public space: sitting area, kitchenette and two bathrooms once a week.

The above condo sells for three hundred and fifty thousand dollars.

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