What I Think
FEB 8 — Is the government really helping the urban poor by getting them to buy low-cost housing in Kuala Lumpur? Or is it imposing a higher burden by charging them 6.5 per cent interest for loans through a special purpose vehicle, making one per cent on top of the 5.5 per cent guaranteed to the Employees Provident Fund (EPF)? And why the haste to sell? What if the buyers then rent out their property? Are there really a lot of people wanting to buy City Hall houses? Or are they just looking to rent? Wouldn’t it be better to just keep renting out the housing to the poor, therefore letting them save money AND get a loan for a better house elsewhere? So that the poor can always have an affordable place to rent. Wouldn’t that be better?
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