In actual fact, yes. BUT, I think Msia is heading towards income disparity like countries in phillipines, vietnam, india and etc.
The rich in Msia is getting richer and richer, and they control most of the economic interest that accounts almost 40% of wealth. While the remaining 90% of people shares the remainig 60% wealth pie. It means 10% of the people controlling 40% of the wealth in Msia! Reading through the UNHDP report gives you an indication where we are heading.
Scoping down to the layman, take for example a fresh graduate's earning capacity of around RM2500 - 3500.
Landed properties cost an averagae at least RM500k nowadays. Your loan of 450k@30years is around 2500 a month ! and you need to have at least 3 times the loan instalment against your nett income. 2500 x 3 = RM7500. I believe the majority of young adults below age 30 can't even afford it. Thats why most are going for joint income nowadays with their spouse.
It is pretty hard to WAIT to buy a property, heh? Cost of living goes up inevitably, property prices goes up unavoidably, but income disposable rarely goes up in line with all these. What are the stakes for the future generations?
Hmm.....
