| In fundamental economics, we learn about the basics of demand and supply. When supply exceeds demand, the price of the particular goods will eventually fall and vice versa.
Moving away from economics, buyers have themselves to blame as well for prices skyrocketing. By owning a house, one is seen as successful in life. How often have we heard of youth being judged by whether they own a house by the age of 30? Nevertheless, I believe that banks have their standards and guidelines on approving loans. Banks cannot be too lenient, we must learn from history of what happened during the 2008 financial crisis and make sure it does not happen again.
Since the market cannot work itself, the government is expected to step in. In the Pakatan Harapan manifesto, they promised to build one million affordable housing in 10 years. Firstly, the income of buyers is still the same, but they are merely taking more loans, it is a short-term measure without solving the real issue of affordability. Secondly, if the government steps in every time there is overhang, developers will not be afraid to continue charging the same prices.
Source: News Formal (newsformal.com)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The 3-letter word that's still taboo in schoolsMention sex and every adult ducks for cover; mention sex education in schools and tempers flare as teachers and parents anticipate rampant sex among teens.
Source: fmtoday - 🏆 5. / 72 Read more »
Bus ticket sellers yet to receive letter halting eviction from Medan Gopeng Terminal | Malay MailIPOH, March 26 — Some 200 express bus ticket sellers in Medan Gopeng Terminal Amanjaya here are worried about their livelihoods as they are still waiting for a letter from the Perak government to stop an impending eviction that will take place on Saturday. Medan Gopeng Silvertage Express...
Source: malaymail - 🏆 1. / 86 Read more »
Chia Yu Chian's Painterly Love Letter To KL | Star2.comIlham Gallery's exhibition of rarely-seen Chia Yu Chian (1936-1990) works offer an eye-catching spread of the French-trained pioneer artist's colourful and soulful paintings on daily life in the big city.
Source: staronline - 🏆 4. / 75 Read more »
Taman Rimba Kiara – An open letter to the cabinet | The Malaysian Insight
Source: msianinsight - 🏆 8. / 63 Read more »
PAS man doesn't know what 'state' means in MA63, says PBSChristopher Mandut criticises Hamid Ismail's excessive concern with the letter of the agreement.
Source: fmtoday - 🏆 5. / 72 Read more »
Appellate court grants Najib one, denies three appeals | The Malaysian InsightJudges rule to compel the prosecution to show the appointment letter of fiat prosecutor Sulaiman Abdullah.
Source: msianinsight - 🏆 8. / 63 Read more »
Addressing policy directives on water managementLETTER | Dialogue between minister and stakeholders on water was a success.
Source: malaysiakini - 🏆 20. / 51 Read more »
'Perpaduan' best when politics, religion absentLETTER | Having rallies is no use if they do not result in people changing their views.
Source: malaysiakini - 🏆 20. / 51 Read more »
Religious freedom in the restoration of Sarawak's statusLETTER | These rights will only be meaningful if S'wakians can live out our way of life.
Source: malaysiakini - 🏆 20. / 51 Read more »
How to restore marine biodiversity at Penang southern coast?LETTER | The government can consider using reef balls as part of the marine restoration and protection.
Source: malaysiakini - 🏆 20. / 51 Read more »