Cars in Singapore match cost of average U.S. home

Pedestrians cross the street along the Orchard road shopping area in Singapore on April 10, 2012. Permits for to buy a new car in Singapore have risen to almost $67,000 this year.

In the United States, eight out of every ten people own a car. Even with insurance, registration, and gas, for most Americans, this is a manageable expense. The same cannot be said in other places around the world, including Singapore. In the Asian city-state, a car costs as much, if not more, than a house.

For today's mid-day extra, we talk to the BBC's correspondent Mariko Oi in Singapore about what's driving the costs up, who pays, and how she gets around.

About the author

Jeremy Hobson is host of Marketplace Morning Report, where he looks at business news from a global perspective to prepare listeners for the day ahead.

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