We are told there is a glut in “affordable housing” these days. Is that really the case? Well, that would depend on what you consider to be an affordable price for a home.
So let’s take a poll to find out:
Much of it will depend on your household income and household debt. As a guide, the Penang state government has a eligibility guide for buying homes based on monthly income level: up to RM6000 income for a RM200000 home, RM8000 for a RM300000 home and RM10000 for a RM400000 home.
Bear in mind that the results of this poll are likely to be skewed in favour of middle-class perceptions in view of the demographic profile of blog readers, and the real affordability threshold could therefore be much lower than what the results here would indicate.
By the way, I append this quote from The Guardian about the situation in Greece:
“In Crete, where I am from, a lot of investment went into housing for foreigners, and it was the first to collapse,” said Giorgos Stathakis, the shadow development minister for the radical left main opposition Syriza party. “Foreigners stopped buying, or started selling off their houses, when the crisis began in 2010.