In the first place, there aren't many residential development, landed or non landed that falls below the RM250k range. Most residential projects in Klang Valley are above RM250K. I feel that G should increase the range to RM400K. Nowadays, to buy an intermediate terrace house can easily reach up to RM300K. If I am not mistaken, a couple of years ago, the G actually provide free stamp duty for purchase of home by individual. It is actually a half hearted attempt to give 50% discount on stamp duty and even worse, many people won't be entitled cause we can't find a residential home that cot below RM250K.

Personally, I feel allowing us to use our EPF to fund our own housing loan it a double edge sword. Besides EPF, how many of us has allocated savings for our golden years. Why can't the G give actual incentives like, lower income tax (weird only company enjoys tax reduction in 2008 budget) & abolish stamp duty.

In some countries, the banks have also knows that one generation might not be able to pay off a house loan. They have actually allowed 2nd generation loan to span more than 40 years, which would indirectly decrease the prepayment montly amount but increase the interest over the duration of the tenure.

I do acknowledge many of use would love to complete our housing loan as soon as possible, but with cost of buildings increasing as well as living expenses, not many of us can afford to continuously make such payment.

This post has been edited by dchk: Sep 9 2007, 11:51 AM