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 Malaysian millennials give up on home ownership

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Strike Eureka
post Jan 19 2024, 01:11 PM

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QUOTE(ry8128 @ Jan 19 2024, 11:03 AM)
Like strike eureka la, so far owning 11 properties in kl and every month just collect rent as passive income while he lepak at port cheong vietmoi everyday.

This kind of ppl make us cant afford a house  ranting.gif
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Kalau sendiri suka sewa, malas work harder to fork out 10% payment to own house mentality whistling.gif


hteekay
post Jan 19 2024, 01:18 PM

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QUOTE(lopo90 @ Jan 19 2024, 12:00 PM)
That's why now a lot of developers are making cheap condo/apartments

My side here in PJ, suddenly got so many new condos.

Government : Too many houses that are overpriced?? No problem! We'll just approve permit for more affordable condos!

In the end, those landed houses will remain stagnant or drop in value because all the millenials will go for high rise instead
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what are you smoking?
geforce88
post Jan 19 2024, 01:20 PM

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rent and subscription = the future
mushigen
post Jan 19 2024, 01:22 PM

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QUOTE(kelvinng92 @ Jan 19 2024, 11:05 AM)
no knowledge on this, just curious how you change/move house with only 1 name (due to 1 house limit)? let say the person want to move somewhere better
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You can find out how Sinkie hdb buyers do it.

Anyway, it will never happen here, at least not in my lifetime.
bashlyner
post Jan 19 2024, 01:28 PM

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QUOTE(hteekay @ Jan 19 2024, 01:18 PM)
what are you smoking?
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He could mean the old PJ landed house could drop in market price because it's too expensive to renovate >20 years old house. Would rather spend 800k on a 900sqft condo than an old landed house because you'll need another 200-300k to renovate it.
netflix2019
post Jan 19 2024, 01:43 PM

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millennial so stupid buy high rise as investment. To them buying condo to stay for the next 20 years is embarrassment
anangryorc
post Jan 19 2024, 01:55 PM

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QUOTE(hteekay @ Jan 19 2024, 01:18 PM)
what are you smoking?
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This is kinda true, with dropping high income group population, not many no longer interested nor able to afford landed house, thus the demand is stagnant unless the price is adjusted or sell them to foreigners
Akaashi
post Jan 19 2024, 01:59 PM

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QUOTE(smsid @ Jan 19 2024, 10:07 AM)
You limit how many properties a person can have, will automatically fix the problem.

Baby boomers owning too much properties.
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Baby boomers: u blow?
smsid
post Jan 19 2024, 02:03 PM

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QUOTE(Akaashi @ Jan 19 2024, 01:59 PM)
Baby boomers: u blow?
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You don't understand the joke, I pity you.
MalaysiaCEO
post Jan 19 2024, 02:06 PM

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Many people didn't realize that buying a "condo" doesn't mean you are buying a "house". You cant fully take control of your "condo", after 30-40 years you’ve just finish the loan repayment, you will regret.
lopo90
post Jan 19 2024, 02:08 PM

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QUOTE(hteekay @ Jan 19 2024, 01:18 PM)
what are you smoking?
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Which group of people are gonna buy landed then?
jonthebaptist
post Jan 19 2024, 02:09 PM

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QUOTE(MalaysiaCEO @ Jan 19 2024, 02:06 PM)
Many people didn't realize that buying a "condo" doesn't mean you are buying a "house". You cant fully take control of your "condo", after 30-40 years you’ve just finish the loan repayment, you will regret.
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It's called strata title, you own a portion of that condo. Of course you don't fully own the condo
afoka
post Jan 19 2024, 02:10 PM

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Gov and developer are the main villain. Both are feeding each other for the sake of Money.
Akaashi
post Jan 19 2024, 02:12 PM

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QUOTE(geforce88 @ Jan 19 2024, 01:20 PM)
rent and subscription = the future
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Subscribe to this landlord. Can access any of his properties anytime (as long as not occupied) XD
Akaashi
post Jan 19 2024, 02:14 PM

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QUOTE(afoka @ Jan 19 2024, 02:10 PM)
Gov and developer are the main villain. Both are feeding each other for the sake of Money.
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Don't forget the little Napoleons in the govt offices. U have no idea how much side income they gain from all these.
submergedx
post Jan 19 2024, 02:17 PM

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My ex-boss grandfather sold land to UEM Mont Kiara 15years ago.

UEM acquired the land and gift 20units condo to my boss.
Each of them are worth atleast 1m at market price.

This is just one of their trophys.

And yet the boss say we all cha siew laugh.gif laugh.gif laugh.gif laugh.gif

This post has been edited by submergedx: Jan 19 2024, 02:18 PM
submergedx
post Jan 19 2024, 02:18 PM

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QUOTE(geforce88 @ Jan 19 2024, 01:20 PM)
rent and subscription = the future
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developer jiak sai then
hteekay
post Jan 19 2024, 02:23 PM

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QUOTE(anangryorc @ Jan 19 2024, 01:55 PM)
This is kinda true, with dropping high income group population, not many no longer interested nor able to afford landed house, thus the demand is stagnant unless the price is adjusted or sell them to foreigners
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You think all who own their 1st apartment gonna live there for the rest of their live? No, a lot of them will sell them off and "upgrade" to landed house eventually.
JimbeamofNRT
post Jan 19 2024, 02:28 PM

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QUOTE(Boldnut @ Jan 19 2024, 10:14 AM)
as always... salah house buyers, not developers, not cement/steel/sand makers.

You go check how much steel/ sand price first. Those are unchecked inflation.

You cant even build a landed double storey house now with 200K even you are given land for free.
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This guy has been around for quite some time. you should see his other video

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This post has been edited by JimbeamofNRT: Jan 19 2024, 02:30 PM
seather
post Jan 19 2024, 02:29 PM

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i just curious how much our state govs are funded via land sales and property taxes.. then perhaps we can gauge whether the gov is not incentivize to solve the housing affordability issue..

just like cars... previously is high taxes but low petrol prices.. now is high taxes + high petrol price.... don be surprised if they start raising the road taxes soon..

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