IN THE face of the Malaysian property glut and issues regarding home affordability, it seems that our plastered-on short-term quick-fixes are starting to burst through its seams.
Traditionally, when faced with a problem with low take-up in homeownership, the government will employ two strategies:
1. Build more affordable homes.
2. Loosening lending regulations and encouraging mortgage uptake.
This is precisely what the government has done to help address the woes of both the public and property developers. But is it sustainable long term?
Bank Negara Malaysia (BNM) introduced a RM1 billion home loan scheme earlier this year to help make mortgage repayments easier for first-time buyers.
