2. At the current interest rate, a person earning RM3,000.00 a month cannot qualify for a house worth RM200,000.00. This is following the bank general rule of thumb where monthly repayment should not exceed one third of the gross salary. How many housing project with RM200,000.00 houses can you find in Klang Valley? Soon, even at Jalan Kebun Shah Alam, you will find it difficult to get a single terrace house for less than RM200,000.00. This may happen slowly but surely.
3. We read in the newspapers that Malaysian property is cheap by the regional standard. That must also includes land in general. At the current rate, many find it expensive to buy house. What will happen to the price of houses if the price of land goes up in times to come?
4. Helping the people to earn more through higher salary must come from education and training on one part, and attraction and investment in more value-added industry by the government on another part. To get paid more, workers of whom all of us are, must be productive to justify the cost. You just cannot force the employers to pay higher salary when there is no corresponding input in term of skill or knowledge. The government can come up with laws to enforce it. But what will happen to the price? Invariably, it will be higher. Have the prices of goods not increased after the price increase of sugar and petrol? Well, the roti canai may still be selling at the same price, but you need to take two pieces now instead of the usual one.
5. Enabling more youth to own their first house by building more affordable houses or increasing the income / salary of the average Malaysians : Which one is a better move? What say you?
