When you reached your university age, were you eager to move out? To have your own secondary home even if it is just a rented room? To be able to have total freedom and no one to watch over you? Well, truth is, I did not have such desire but I could see among my friends, many were eager for such a new environment. As soon as you started working, would you still be staying with your parents or move out? Well, some say the property nowadays are way too expensive and therefore, it may be better to stay with our parents instead.
In a survey in Slovakia, the main reason is due to the expensive city centre. In fact, 74 per cent of adults 18-34 years old still live with their parents. This is as per European Commission statistics. if you think perhaps this is because they are still young, well, among those 25-34, there are still 57 percent staying with their ‘Hotel Mama’. This is considered very high when compared to a US Census study which showed that 15 percent of those aged 25 – 34 were staying with their parents. In Britain, a similar number were revealed by the Office of National Statistics.
Seriously, is this only because of financial concerns? Well, it does seem that unemployment might have been a major cause. Of course there are also other reasons and one of them is that it’s an acceptable thing to do. Another reason is because it is hard to find a home for rent. In Slovakia, there are less than 6 percent of all housing that is for rental. Thus, it meant that you either be able to afford one or you stay where you have been staying.
You may have read some Facebook comments or even articles saying that properties are becoming so expensive in Malaysia that the next generation are all going to have to rent. If this is true, then I think the income disparity is going to be even wider because the richer ones would buy more so that they can rent out. These owners would forever be richer and those who rent from them may have to rent forever. What about the stigma of staying with your parents when you are much older? I think in Malaysia, this is still a concern. Some friends are bound to look at you differently if you are already over 30 and still staying with your parents instead of renting or owning your own place. Yes, I do feel lucky that if I wish to retire in Ipoh in future, my parents would welcome me. As for how my friends would look at me, who cares. haha. Happy buying or renting if you seriously believe the properties nowadays are too expensive.
written on 23 Apr 2015
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