FIRST-TIME house buyers are finding it impossible to buy because few houses are affordable. Much has been said about making affordable houses available for younger Malaysians who aspire to own their homes, but unfortunately, the end-result so far is disappointing. Firstly, affordable homes are too expensive for the average middle-income young person, whether single or married. When œaffordable is defined as starting from RM300,000, the challenge to afford one is immense because the demands on disposable incomes include other heavy recurring expenditure like car loans, utility bills, cost of commute and all manner of financial commitments. Many fresh graduates are also burdened with study loans. And, most importantly, average incomes are generally not rising proportional to cost of living, which includes the cost of housing.
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