What Are The Middle Income Problem In Owning A House?
To own a house is everyone dream. Whether it is a bungalow, a terrace or a semidetached house, owning a house make oneself feel relieved as one of his dream is fulfilled.
However, due to urbanization, housing price seems to increase tremendously over the years.
This had affected the middle income group in their purchasing power. The housing price issue surely decreases the affordability of the middle income group to own a house. As we all noted, the salary of middle income group is neither too high nor too low. However, due to the increase in cost of living in Malaysia, the middle income group need to cover for many different expenses such as their daily needs and the child care. Hence, the increase in housing prices bring various problems …show more content…
The possible problem faced by the middle income group in buying a house is the difficulty to secure loan or get financing from banks and financial institutions. This is because most of the middle income people do not meet the qualification that is needed …show more content…
This is a sad fact. The money that they spent monthly for house rental is kind of waste as they are not spending it for their lifetime investment. In a bigger picture, they will have no property to be inherited by their children in the future.
For a conclusion, the middle income problem in purchasing a house should not be neglected by the responsible authorities and the government. The welfare of this group of peoples must be taken and viewed seriously by the government to ensure that they also can buy their own house and do not just end up renting a house for the rest of their life. They also have the right to get better and comfortable living and own their own property.
Why are the middle incomers unable to afford a house in Kuching?
Lately, there are a lot of development plans and policies being made in order to solve housing problems especially in the case of the middle income residents. Since they represent the majority, it is important to accommodate the needs of the people as stated by the government in numerous occasions recently. However, as the prices of houses increases, the number of those who cannot afford the houses especially among the middle income
However, due to urbanization, housing price seems to increase tremendously over the years.
This had affected the middle income group in their purchasing power. The housing price issue surely decreases the affordability of the middle income group to own a house. As we all noted, the salary of middle income group is neither too high nor too low. However, due to the increase in cost of living in Malaysia, the middle income group need to cover for many different expenses such as their daily needs and the child care. Hence, the increase in housing prices bring various problems …show more content…
The possible problem faced by the middle income group in buying a house is the difficulty to secure loan or get financing from banks and financial institutions. This is because most of the middle income people do not meet the qualification that is needed …show more content…
This is a sad fact. The money that they spent monthly for house rental is kind of waste as they are not spending it for their lifetime investment. In a bigger picture, they will have no property to be inherited by their children in the future.
For a conclusion, the middle income problem in purchasing a house should not be neglected by the responsible authorities and the government. The welfare of this group of peoples must be taken and viewed seriously by the government to ensure that they also can buy their own house and do not just end up renting a house for the rest of their life. They also have the right to get better and comfortable living and own their own property.
Why are the middle incomers unable to afford a house in Kuching?
Lately, there are a lot of development plans and policies being made in order to solve housing problems especially in the case of the middle income residents. Since they represent the majority, it is important to accommodate the needs of the people as stated by the government in numerous occasions recently. However, as the prices of houses increases, the number of those who cannot afford the houses especially among the middle income