LETTER | Malaysian politicians only can talk sense when they are out of power.
| I support neither Lim Guan Eng nor Khairy Jamaluddin over their spat on the need for the Finance Ministry to entertain complaints from those who were unable to get loans from banks to buy houses. I am referring to theMalaysian politicians only can talk sense when they are out of power. When in power, they have either become very arrogant or stupid.
When borrowers have poor credit records or have income levels/collateral not commensurate with the quantum of loans asked for, surely banks would be hesitant to lend. I wonder how could the Finance Ministry handle complaints from those who are unable to get bank loans to buy houses? How could it help if the rejection is due borrowers’ income being too low? How could it help if the price of house is too high based on borrowers’ income? How could it help if the borrowers’ credit records are bad?
I hope by now we could all see that past measures have not helped the buyers but only further escalated the prices for the benefits of developers. Singapore is land scarce. It has only one public housing agency, the HDB. The nation was able to provide decent and clean housing to most Singaporeans over the years.
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