"The Government is aware of the difficulties faced by the rakyat, particularly young adults who have just joined the workforce with income less than RM3,000, to own a house. To assist this group, the Government will introduce Skim Rumah Pertamaku through Cagamas Berhad which will provide a guarantee on down payment of 10% for houses below RM220,000. This scheme is for first-time house buyers with household income less than RM3,000 per month. In other words, the house buyers will obtain a 100% loan without having to pay the 10% down payment."
This is what I think:
Very creative measure to boost home ownership indeed. (A contrarian approach too, if compared against regional governments' move of raising loan-to-value ratio to curb the sky-rocketing property prices. ) LOL!
Why push young adults to over-commit on something they can't afford. Journey of an indebted life will now begin for many young ones.
(And they have better pray hard that BLR will stay at this level or lower for a very long time).
Why do I have a feeling that we are making a local production of "Subprime Drama"? Perhaps I worry too much. Do enjoy the subprime cartoon of this post, couldn't be better. LOL!
No comments:
Post a Comment