You do not need to hire McKinsey consultants to advise Najib that RM3000 monthly income can only afford for RM100,000 flat unless your father is a minister who can fork out RM300,000 for your RM400,000 apartment.
The starting salary for fresh engineer is stagnant since 90s, but the house price rises up by three- or four-fold in the same period.
Property prices in Malaysia with GDP 7,500 per capita is ridiculous high, 90% people born after 80s cannot afford to own a house with their income.
Najib denies first home scheme is a failure
By Shazwan Mustafa Kamal
March 22, 2012PETALING JAYA, March 22 — Datuk Seri Najib Razak today defended the viability of his administration’s My First Home scheme, saying that it had garnered a 36.6 per cent success rate so far.
The prime minister was responding to a question posed by a listener during an interview with Chinese-language radio station 988FM.
He denied reports that the scheme was a failure, saying that the success factor has been “significantly good.”
“Report is off the mark, according to Bank Negara success rate is at 36.6 per cent. Hundreds of applications are still under application by various commercial banks,” he said.
Continue reading >> What house you can buy with RM3000 monthly income ?
