This tag is associated with 3 posts

My First Home Scheme: Bad idea from the start

Last year when Najib launched his “My First Home Scheme”, I said that the scheme will not solve housing issues, but instead drive price up further and will only enriched the bankers and developers. There is nothing for the people except to make them debtors even further and create a housing bubble. By mid-way increasing … Continue reading

NEWS: Najib says no risk of sub-prime crisis in new scheme (I say,you are not looking!)

With RM23BILLION of credit card debts and only 30% of Malaysians pay up fully their monthly credit spending, the government is not worried about defaulters? You are playing with fire loosening up the credit system, if Bank Negara can’t even sniff RM888 BILLION going out illicitly, what kind of control you expect? And this First … Continue reading

PRESS: My First Home Scheme: The government is driving Malaysians into more debts, not solving housing problems

090311 | Bukit Mertajam, Penang I refer to report in the Star on the Federal Government’s My First Home Scheme launched by the Prime Minister. The scheme is to enable young working adults to obtain upto 100% financing to buy their first home. This is yet another populist program of the UMNO-Barisan Nasional government intending … Continue reading