Sunday, May 01, 2011

Length of loan is not the issue: Mah Bow Tan

Erm .. Does Mah Bow Tan mean to say if housing doubles in price, we can always our loan to more than 60 years?

CRAP! In my opinion, this minister has failed badly.

It is not the length of the loan but the percentage of monthly income repayable to the housing loan that matters, said Minister for National Development Mah Bow Tan in response to an Opposition point that paying for a HDB flat on a 30-year loan makes it unaffordable.

Length of loan is not the issue: Mah Bow Tan [via]
Posted by Hon Chun Loh at 10:38 AM
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2 comments:

  1. Minister Mah assumed HDB owners will be forever employed so that they can pay off the mortgage loans. What if the HDB owners get a pay cut or retrenched? Commoners do not have job security and stability.

    ReplyDelete

  2. Mah also forgot the longer the loan is, the more interest one has to pay.

    ReplyDelete

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