Property prices on the rise

I know many will sigh just looking at the entry title... Well, it's not surprising too. We made the decision to purchase our property a while back in 2009 and boy we were glad we made it. I think we were among the last to get a house with the reasonable space and price.

For the same price, many can only dream to get a much smaller house and at a location one would never think of buying because it is too far out and can be quite a distance from work location and general amenities.  The only people who are smiling at such high buoyancy in the property market are the speculators and previous home owners who bought their house at a much cheaper price.

I call it cruelty. For a couple who has just started their family with the average income of RM2000-3000 a month is just plain cruel. Not to mention the other expenses that can crop up at any time that needs attention. Yes, government tries by doing their part and introducing housing schemes for the lower income households. But the problem persists, prices of houses continue to soar. And we are not exactly running out of land, compared to other smaller countries ie Singapore.

Property prices should be controlled, and the same goes to car prices. In the end, consumers end up paying more for the same value of assets (or in this case, liabilities) that lasts longer, like 9 years of hire purchase tenure and 40 years of housing loans. If you don't die first, of course.

It is like telling the younger generation it is alright to borrow more and have mountains of debts before they even reach 30! Somebody, somewhere on the face of the earth should be doing something, don't you think? Food for thought, night everyone...:-)