Sep 21 2013, 11:58 PM
QUOTE(matthewctj @ Sep 10 2013, 09:20 AM)
At 28 & 30, assuming they started work at 20-21. If they are graduates and have been working for 8-10 years, rightfully they should have been able to save the 10% for a modest home.
So, the fact is, people need to buy within their means. But they expect the value of things to match their income instead. So, if they have slow growth in their income, then goods and services should also not grow? That's complete BS. There are always home that will match their income, but they do not want it because they either think it's too small, too far, too ugly, not in posh neighbourhood and all sorts of excuse. I remember in another thread someone posted an old house in Bandar Tun Razak going for less than RM200k not too many months ago. Now, tell me if that is unaffordable. Heck if they want to complain, I have a Low Cost Flat about 720 sqft going for RM110k if they want in Puchong. I'll sell it to them. Cyberjaya pigeon hole 700 sqft going for RM400-500k. So? If it's a home people are looking for, do they want it?
It is now about expectations. I bought a 1400 sgft condo for RM260k in 2005 when I was 31. Now you can't find one like that for sure. So, with the same budget or around 300k, opt for something smaller and maybe slightly further away. There is no price to suit everyone. But there are multiple price ranges to suit diff people with different earning capacity.
I only managed to buy my own home at the age of 31, mind you. That's why some people said, we have to work hard, be stingy and save to buy a home. We did not have it easy as you claim. Now graduates come out only, want smartphone, want nice car and etc. If you must know, they are born into an era of privileges as well where the previous generation has provided a roof over their head, provided for their education, provided for their current needs in a bustling environment where good food and entertainment are everywhere. Back in my 20's, I didn't know what fine dining was except at hotels. But now, all these teenagers are eating in them and they are everywhere. When I was in college 1992/94, I had 2 jobs; weekdays night till midnight after classes and Sat/Sun full day. When I started working full time, I still maintain my week nights job and the Sunday job. 3 jobs. Now Gen Y, tak suka only, quit. Look for job, ask for 4-6k even with only 1-2 years experience. Yes, not all of them, but many of them.
So, stop whining puuhleaseeee .. there are many others who had it even tougher than me.
Interesting, mind to debate the differences between Gen X and Gen Y like you claim?So, the fact is, people need to buy within their means. But they expect the value of things to match their income instead. So, if they have slow growth in their income, then goods and services should also not grow? That's complete BS. There are always home that will match their income, but they do not want it because they either think it's too small, too far, too ugly, not in posh neighbourhood and all sorts of excuse. I remember in another thread someone posted an old house in Bandar Tun Razak going for less than RM200k not too many months ago. Now, tell me if that is unaffordable. Heck if they want to complain, I have a Low Cost Flat about 720 sqft going for RM110k if they want in Puchong. I'll sell it to them. Cyberjaya pigeon hole 700 sqft going for RM400-500k. So? If it's a home people are looking for, do they want it?
It is now about expectations. I bought a 1400 sgft condo for RM260k in 2005 when I was 31. Now you can't find one like that for sure. So, with the same budget or around 300k, opt for something smaller and maybe slightly further away. There is no price to suit everyone. But there are multiple price ranges to suit diff people with different earning capacity.
I only managed to buy my own home at the age of 31, mind you. That's why some people said, we have to work hard, be stingy and save to buy a home. We did not have it easy as you claim. Now graduates come out only, want smartphone, want nice car and etc. If you must know, they are born into an era of privileges as well where the previous generation has provided a roof over their head, provided for their education, provided for their current needs in a bustling environment where good food and entertainment are everywhere. Back in my 20's, I didn't know what fine dining was except at hotels. But now, all these teenagers are eating in them and they are everywhere. When I was in college 1992/94, I had 2 jobs; weekdays night till midnight after classes and Sat/Sun full day. When I started working full time, I still maintain my week nights job and the Sunday job. 3 jobs. Now Gen Y, tak suka only, quit. Look for job, ask for 4-6k even with only 1-2 years experience. Yes, not all of them, but many of them.
So, stop whining puuhleaseeee .. there are many others who had it even tougher than me.
fresh grade in year 92-94 can earn 1200 -1500 k per month right?
i still remember the breakfast at that time is around 1.50 - 2.00 roti + teh / milo ais fair?
Lunch - nasi campur 2.50 - 3.00 (including water) - 3.50 if really large portion , petrol price? 1.50? (not sure coz still a small kid)
Dunhill (help father buy , 3.50 for 20), car park? free almost every way in KL. Toll? only at federal to pj (that i remember, price forget di... only remember less than RM 1)
Rough calculation for basic need per mth ,
Meal - 3 times a day (including breakfast) = RM 9 ringgit/ day = RM 270 ringgit / mth
Ciggarates (for smoker) = 3.5 / day = 105 / mth
Transport + toll , Petrol (not sure how much per mth, but still remember my father pump 20-30 ringgit each time at petrol station) so 30/week = 120/ mth ,
Toll , isn't necessary , car park = free
rough estimation for meal + transport + (cigarettes for smoker) = RM 390 (smoker RM 495)
Calculation :- 390/1200 = 25% of income ( smoker 495/1200 = 41.2% of income )
clean cut balance after deduct all basic needs (by using the lowest meridian salary RM 1200)= RM 810 (smoker RM 705)
from these clean cut balance than use to pay rent , water , electricity (also one of basic) don't know how much (Hope you can share)??
and please dun forget RM1 = SGD 1 during these time... double story house in Happy garden 40k-60k (average 4 to 6 years annual income)
For myself, (start work in year 2008 basic 2.1k) .
grad at that time can earn basic 1800 - 2400
The breakfast at that time is around 3.00 - 4.00 roti + teh / milo ais fair?
Lunch - nasi campur 5.00 - 6.00 (including water) - 7.00 if really large portion , petrol price 1.90
Dunhill (RM 8.20 for 20), car park? Average RM 10 almost every way in KL = RM 10 / day = 300 / mth . Toll? Have to pay 3.60 per day (going and return) = 108 / month , a must because no any other way around it unless drive a big big round.
Rough calculation for basic need per mth ,
Meal - 3 times a day (including breakfast) = RM 13 ringgit/ day = RM 390 ringgit / mth
Ciggarates (for smoker) = 8.2 / day = 246 / mth
Transport + toll = RM 408 mth (ok not everyday also pay and park the car + pay the toll) = RM 270 , Fair?
Petrol = so 60/week = 240/ mth ,
rough estimation for meal + transport + (cigarettes for smoker) = RM 900 (smoker RM 1146)
Calculation :- 900/2100 = 42.85% of income ( smoker 1126/2100 = 53.62% of income )
clean cut balance after deduct all basic needs (by using not the lowest meridian salary, but my salary RM 2100)= RM 1200 (smoker RM 974)
from these clean cut balance than use to pay rent , water , electricity (also one of basic) around RM 350.00 (my expenses excluding mobile phone and internet to make a fair comparison)
RM1 = SGD 0.50 .... double story house in Happy garden = 800k to 1.x Million (average 31 year and above annual income)
I see these logic, earn less than the inflation and earn less value compare to Gen X (Gen X are earning SGD) + save lesser compare to gen X coz toll and carpark once considered to be avoidable expenditure in year 1992 and year 1994 is now one of the basic . e.g ? look at cyberjaya , you can't go anyway without paying toll . Yes , we can still park for free at KL downtown, if we have time to spare . Some say Time = money , for investor , time is something they cant earn , but money they can.
kindly advs me if the salary and expenditure for year 1992-1994 i mention is incorrect and hope gen X can come in and debate on these issue to raise awareness on how our lifestyle is changing because of the country governance .
edit - why i bash governance?
Ciggarates price increase because tax
Toll is also tax
Car park , the land belong to government, but they rent it to some abc individual to collect car park from us.
This post has been edited by wanted111who: Sep 22 2013, 12:04 AM
Quote
Life isnt a straight road. Just not getting bogged down with overwhelming debt is quite good in many cases.
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