Monday, January 09, 2017

Future Generations Will Be "Homeless"

Deficiency needs, motivates people when they are not met. The need to fulfill becomes stronger when stretched longer duration or disruptive when denied. One must satisfy the lower deficit before progressing on to meet a higher level growth needs. In any event of failure, progress may be disrupted by failure to meet those lower level needs. 

A house, the basic needs that provide shelter, food, warmth and rest to its occupants. Based on international benchmarks, a house should not cost more than three times the median household annual income. Malaysians median for 2014 was RM4, 585 thus a median home should price at RM165, 060 
According to Bank Negara Malaysia 2015 reports, houses priced at RM165, 060 is categorized as affordable. However, studies conducted by the Real Estate and Housing Developers' Association Malaysia (Rehda), reported the industry for half year 2016 offered only about 14 percent of the total housing units below RM200 thousand. 

While the population of Terengganu, Penang, Kuala Lumpur and Sabah are most critical of owning a home, the industry players continue to dominate more than 50 percent of the property market prices oversupplying above RM500 thousand. The majority of the population, the younger generation will be left “homeless” against the rising cost of living and may experience a repeat of the office glut in the financial crisis 2008/2009.