03 Jul '12, 3pm

Latest: RM1182 monthly per capita household income

Top 20 per cent of households – RM3124. Now, with this top earners’ income level (averaged out), how to buy homes selling @ 200K and above? No need to eat ah? This speaks volume of our economic think tank advising our state gomens on the availability of affordable housing for most households, let alone the lower & middle of income brackets who will be ‘fated’ to the outbacks of kampung & wilderness. Yeah, one can vouch for laissez faire market forces of unbridled speculation & ready foreign buyers who also see it as speculation for themselves. Who in their right minds will buy more than one property & leave them empty for most of the year? With their higher income level & better exchange rate of currencies, we are at the mercy of their property ‘binge’ now & in the future. Soon there will be many foreigner landlords in Penang earning high rentals not recorded in our nation...

Full article: http://anilnetto.com/others/uncategorized/rm1182-monthly-...

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