I have seen a few sharing earlier in Facebook about the potential of Gen-Y becoming a homeless generation. These would occasionally pop up. One time, I even saw it as headline in a ‘mainstream’ media. I have to say that I disagree with these generalisations as well as predictions without understanding what’s available in the market. Plus the actual capabilities of really awesome Gen-Yers versus the Gen-Yers who always spend but seldom save and invest. Looking a little further, there are also many Gen-Xers who are still renting / “homeless” today.
Well, even for the Klang Valley new properties, I have started to see properties being advertised at sub RM400,000 recently. Let’s not talk about the size. Basically, it’s enough to house a couple or a small family okay with a little smaller space. Hey, is the market dynamics changing? Yea, I think it is. More powers are going to the buyers these days. Anyway, if we are talking about one homeless generation it would also mean most developers would cease to exist. Else, if they could still build and people could still buy, then how would we have a homeless generation? Currency exchange rate aside, the prices in most of the advanced nations are definitely extremely high today. I am not sure if they already have one whole homeless generation yet. 🙂
Dear future writers for this topic, the only homeless generation that we should note would be those who believe they should be safe even as they spend everything they have today. The homeless generation would also be those who continue to give excuses like property prices too high, bank loans hard to get or even I need a car first since the public transport is very bad in KL. These may even be people whose parents are very rich and they have not understood the real meaning of earning their own money today. No one could guarantee what would happen in the future however it is almost certain that the homeless generation would be more related to little or no financial investment instead of a generalised generation. Happy reading.
written on 18 Aug 2016
Next suggested article: Fear of price increase, thus buy quickly?
0 Responses
Hi! Thanks for the article, I couldn’t agree more that the Gen Y these days spend more than they save, but I do know of baby boomers who do not own a single property yet! And yes, it’s the same old excuses that the property prices is too high!