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 Malaysian millennials give up on home ownership

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marfccy
post Jan 19 2024, 10:48 AM

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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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not just this, but more on the developers getting more greedy + profit minded

nowadays fucking studio <500sf already RM1k per sf. go eat shit and die la
marfccy
post Jan 19 2024, 11:43 AM

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QUOTE(Zer0 c00L @ Jan 19 2024, 11:25 AM)
people don't understand you're not meant to be able to buy a house right after starting work

and to afford a house you need to sacrifice
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i think youre missing the point

its more on how even they with decades of work also can barely afford a house

house price goes up faster than salary can be

marfccy
post Jan 19 2024, 11:55 AM

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QUOTE(HikayatSalju @ Jan 19 2024, 11:49 AM)
Problem is not house price increase but salary stagnant. House price inflation is reasonable compared to overall price inflation of other goods.
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i dont think so le, nowadays most modern condos are already like at least 700k if mau those 1k sf kind + decent location

studio still workable but you need at least 400-500k even unless rumahwip kind

for an avg joe assuming earn 4-5k its too damn tight ed unless sacri lifestyle
marfccy
post Jan 19 2024, 11:57 AM

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QUOTE(jojolicia @ Jan 19 2024, 11:54 AM)
Isn’t entry home ownership is now at 250k-350k range ie the like of RUMAWIP, SAMM series?
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yes correct, however those are now beginning to become studio units <500sf kind

so its a good makeshift home for 2 but one will def need more space when starting up family. the inescapable cycle
marfccy
post Jan 19 2024, 12:15 PM

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QUOTE(jojolicia @ Jan 19 2024, 12:00 PM)
No leh, i see most rumahwip/ samm are 700-800 sqft, definately not <500.

<500 are mostly private (free market) studio units. These are purpose build studio living and not the affordable series.

As i said in my edited post, priority and expectation must be right, to begin with.
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yes then obviously just go for those but location will come into play next

if one doesnt have a car/motor already location is extremely important

marfccy
post Jan 19 2024, 12:45 PM

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QUOTE(Zer0 c00L @ Jan 19 2024, 12:23 PM)
its not really, you have options, even at the lower end, there are affordable ones and even the secondary market has good value buys

its just mostly i find

1. people want to live at a brand new landed next to KLCC (exaggerating of course) at 200k
2. refuse to sacrifice subscriptions or lifestyle choices to save up to even be able to have options in the secondary market
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i dont disagree, but we all know theres alot more to picking a property than just seeing from pricing ultimately

like i have a friend who recently bought an affordable (for her) 2nd hand terrace house but because house is so old need spend more for reno, so stuff like this for me is no no despite how excellent the location is

both #1 and #2 part in general its stupid, when buying big commitment shit you gotta sacri something unless you are swimming in monies and see reality la

 

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