Friday, April 6, 2012

Majority of the young working adults in Sabah has become housing loan slaves

KOTA KINABALU, April 5, 2012: SAPP Youth Exco Clement Lee has blamed the failure of the current UMNO Led-BN government to build low and medium cost housing to accommodate the lower income group in Sabah especially the young working adults and young married couple. This has caused them to purchase the private property in high cost with small little tiny space house and be trapped into housing loan due to no choice even though with a lowly pay salary, inflation and high cost of living in Sabah.

With the high soaring selling price of the current housing property market in Sabah that caused our young working adults succumb to become housing loan slave, just need to service their housing loan repayment for life and some couldn’t even afford to own a house, without choice they force to live at their parent home even though Sabah were blessed with vast piece of lands.
In USA and Australia, their young working adults only take 3 and 6 years to settle their housing loan respectively. Pathetically, majority of the young working adults in Sabah take more than 25 years to settle their housing loan.

Are we heading to a developed nation or going backward and I belief every young working adults in Sabah could discern, feel and experience its.

Do bear in mind that after finishing service the housing loans for more than 25 years with the interest rate and Bank Lending Rate imposed on it, which in fact ended up our young working adults are paying for the total of two houses price instead.

In addition, we all know that the monthly repayment for housing loan occupy the most portion of the young working adults monthly take home salary beside other expenses like Car loan and Personal loan which eventually to reduce the purchasing power in Sabah market.

Clement Lee lamented on the inflation rate figure 2.77 % (average from 2005 until 2010) provided by Bank Negara (UMNO Led-BN government) is simply unrealistic and confusing.

Take for example RON 97 and DIESEL price for 10 years ago on 1 May 2002 only costs RM 1.20 and RM 0.72 per liter respectively but after 10 years later on 30 March 2012, the price rose up to RM 2.80 and RM 1.80 respectively which is 212% and 250% increased.

Take for another example a double-storey terrace house only costs less than or equal to RM 200,000.00 about 10 years ago in KK area but now it costs at least RM 400,000.00 or more which is simply more than 100% increased.

Do our young working adults enjoy their pay rise up to 100% for the past 10 years with their average pay rise about 10% per year? I doubt so! Clement Lee said.

We have been given UMNO Led-BN government so many years of chances to manage Sabah but with the current market trend in Sabah which in terms of economy, employment, basic utilities, basic infrastructure, transportation, cost of living and standard of living that they simply failed us.

People of Sabah should stay united in this coming election and rally behind our local party SAPP to take back our Sabah government from party import from peninsular Malaysia to regain back Sabah political autonomy in this coming election. SAPP has an Economic Plan for Sabah to up-lift our economy whereby all the planning, decision and execution will be decided by us. Let all of us to work together to bring back the glorious day of Sabah. There is no one could decide our destiny and no one knows better than our needs except from our local Sabah party leader ourselves.

17 comments:

  1. It was reported that some 20,000 affordable housing units will be built in Sabah over the next five years under a new partnership formed between the Sabah Housing and Town Development Authority (SHTDA) and Malaysia’s Probil Sonati Development. This will benefit the low and middle income group to own houses.

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    1. I think we should not judge/blame anybody on this. After all, blaming won't solve the problem.

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  2. The project is due to be executed in four phases and has the backing of big-name financial institutions Bank Rakyat, Maybank, EON Bank and Etiqa Insurance. The first phase is expected to commence in May of this year, and 6000 units of terraced housing should be completed in two years in Kunak, Kudat and Sandakan, at a cost of RM616m ($193m).

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  3. With these low cost housing projects, the government is expected to be able to provide more affordable houses for the people, especially the young working adults.

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    1. SPNB should provide better explanations.

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  4. Kadar gaji juga perlu dilihat dalam perkara ni.Ramai antara rakyat Sabah yang menghadapi masalah kewangan kerana gaji yang rendah tapi kos hidup pula semakin tinggi.

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    1. Kaum muda ada yang pentingkan kemewahan maka tak hairan lah hutang banyak.

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  5. Bagaimana sudah dengan Skim Rumah Pertamaku yang telah diperkenalkan sebelum ni?

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    1. I think it has helped lots of applicants thus far.

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  6. rumah kos rendah perlu dibina lebih byk.

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  7. Rumah kos rendah perlu di buat lebih banyak lagi di sabah.Harga rumah di sabah hanya mampu di miliki golongan yang berpendapatan tinggi sahaja.

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  8. Masalah gaji di sabah perlu di ambil perhatian juga, gaji masih rendah tapi kos hidup semakin tinggi.

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  9. harap kerajaan akan membantu rakyat yang berpendapatan rendah untuk mendapatkan rumah impian.

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  10. Harga rumah di Sabah semakin meningkat berbanding dengan semenanjung.

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    1. rumah di pulau pinang harnya jauh lebih tinggi.. paling murahpun rm setengah juta..

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  11. penduduk Sabah sudahpun bankrap ketika zaman YTL sebagai KM Sabah.. cukup2 la menimbulkan kelemahan kerajaan sedangkan kerajaan juga sedang berusaha menyelesaikan masalah itu..

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