KUALA LUMPUR: Unaffordable housing remains unresolved, and the younger generation might need to lower their expectations and consider renting instead, industry experts said. The housing problem is centred on soaring prices of properties that are incompatible with people’s income, thus diluting affordability. National House Buyers Association honorary secretary-general Datuk Chang Kim Loong said aspiring homebuyers should continue renting until they were financially ready to buy homes. Due to the rising cost of living and escalating house prices, it has become more challenging for the current generation to buy their first home. If need be, they should rent a room instead of an apartment to save cost.”He was commenting on a statement by a Bank Negara Malaysia (BNM) official on Thursday that houses in Malaysia were considered “seriously unaffordable” by international standards.

Source: New Strait Times October 26, 2019 05:03 UTC