I was at Ang Mo Kio Central looking for a photocopy shop. I was surprised to see so many pawn shops and money lending shops in the vicinity of AMK Hub. It seemed that every other shop is in this trade. Have we became so obsessed with money?
Let me hazard some possible reasons 1) these outlets are needed to cater to the FTs, 2) some Singaporeans may need them : no choice as HDB flats cannot be mortaged, and banks need collateral... 3) these establishments were authorized by the Authorities for some unknown reasons, 4) part of the GDP growth strategy : the 2 IRs 5) part of the vibrant city / economy Anyway, it is a sad development.
Is same at Clementi. I've written about this sad development last year in my blogpost: http://frugalintrovert.blogspot.com/2011/12/mushrooming-of-pawnshops-all-over-spore.html
Is ridiculous so many outlets within a stone throw of each other.
Have you notice that ever since the start of the IR, pawnshop start mushrooming in every of our neighbourhood. I don't know if both are related or is it a mere coincidence.
Oh yes, I have noticed it too. In the past pawnshop is so rare that I even took photos for memories record. But now its everywhere after the IR is here, when you switch on the TV you can see different pawnshop spokesmen dancing around. Our country improve..this way?
Let me hazard some possible reasons
ReplyDelete1) these outlets are needed to cater to the FTs,
2) some Singaporeans may need them : no choice as HDB flats cannot be mortaged, and banks need collateral...
3) these establishments were authorized by the Authorities for some unknown reasons,
4) part of the GDP growth strategy : the 2 IRs
5) part of the vibrant city / economy
Anyway, it is a sad development.
Is same at Clementi. I've written about this sad development last year in my blogpost: http://frugalintrovert.blogspot.com/2011/12/mushrooming-of-pawnshops-all-over-spore.html
ReplyDeleteIs ridiculous so many outlets within a stone throw of each other.
Have you notice that ever since the start of the IR, pawnshop start mushrooming in every of our neighbourhood. I don't know if both are related or is it a mere coincidence.
ReplyDeleteHi anon 10:05,
ReplyDeleteI view the weed of pawnshops as a sign that sinkies are overstretched in their finances.
Yhoo news sg reported that sinkies consume resources at '3 Earths'. 1 sinkie = 33 africans
When hyperconsumption is at such a frenzy state one can roughly know the finances.
Oh yes, I have noticed it too. In the past pawnshop is so rare that I even took photos for memories record. But now its everywhere after the IR is here, when you switch on the TV you can see different pawnshop spokesmen dancing around. Our country improve..this way?
ReplyDeleteVery informative article. We repairs all types jewelry. We offer Quick in store service. Great thanks!
ReplyDelete