Kerajaan Dumb & Dumber Najib : UPSR Bocor, Bank Negara Tidor, Rumah Tak Boleh Jual, Melayu Jadi Miskin

You think the leaked UPSR paper is bad news? Yes it is. But here is something even badder. This one makes the Malays poorer first. Melayu jadi miskin dulu.

This is from The Star 

Malaysia's property sector cooling off

• developers have hard facts sector is cooling off
• 2014 Property Industry Survey 
• by Real Estate & Housing Dvlprs’ Assoc M'sia (Rehda)
• affordable price range below RM1mil facing tough sell 
• difficulty in getting financing 
• glut of unreleased bumiputra lots
•  
• 31% of properties in RM500k to RM1mil range unsold after 3 years
• RM250,000 to RM500,000 range face dilemma
• 34% of completed units unsold
•  
• 90% respondents experienced slowdown due to cooling measures in Budget 2014 
• 80% respondents “neutral” to “pessimistic” outlook for first half of 2015
• 
  
• Rehda said demand for property intact 
• but Govt's cooling measures makes difficult to sell affordable housing segment
• reinstate developers’ interest bearing scheme for 1st house buyers 
•  
• 84% of developers get bridging financing 
• 53% of buyers faced challenges getting end financing 
•  
• highest loan rejections for RM200,001 to RM500,000 property range. 
• “We can build but it is a different story for those with the capacity to buy the homes” 
• 70% loan-to-value ratio was beyond the capability of many home buyers too
• appealed to banks to revisit guidelines for lending to property buyers
• 
  
• first time in recent history less than 50% of units sold in half-year period. 
• 10,189 units in first half of 2014 only 49% taken up
• 41% of launches in RM200,001 to RM500,000 price range
• 31% were in range of RM500,001 to RM1mil
•  
• lack of demand for bumi lots in non bumi locations
  raise bumi quota to 70% further squeeze developers 
• would not be able to sell the lots 
• Demographics and locality can’t be pushed
• bumiputra to buy house in Jinjang - going to be difficult
• Rehda suggest automatic release unsold bumi lots – 10% every 6 mnths 
• this notion not taken up by the federal nor state authorities

So get this folks.  Developers can get bridging finance to build houses. 

But the house buyers cannot get loans to buy the completed houses. 

Inilah al kisah Kerajaan Sewel. Village idiots who dont understand anything.

And the worst hit is the RM200k-RM500k price range. Isnt this the Melayu / bumiputra range? Biar orang Melayu jadi miskin dulu ke? Eloklah tu.

Even at 90% financing, you must fork out RM20,000 deposit for a RM200k house. If it is a RM500k house, you must fork out RM50k for deposit.

If the financing is reduced to 70%, you must fork out deposit of RM60k and RM150k respectively. 

Woi, how many bumis or Melayus can fork out RM60k or RM150k for a house deposit? 

Even the Chinese and Indians will face problems finding this amount of money. So how to buy houses?  Kalau macam ini, lama-lama orang Melayu semua kena duduk atas pokok ke?  Ya Allah, why are these people so dumb?

As for bumi lots, be more common sensical lah. Of course Jinjang has few Malays. How will the bumi quota be filled in Chinese majority areas? Kalau bumi lot tak boleh jual, biar jual kat orang lain saja. Dont waste resources. Nanti kita semua rugi.

I have already Blogged this the other day - control the Bridging Loan to the housing developers. Meaning let the housing developers use more of their own equity. The less they borrow the better it will reduce speculation, reduce risk, reduce abandoned projects, reduce suppliers going bust.

But please increase the End Financing available for house buyers. Ease up the lending for genuine home buyers, especially first time home buyers or "only one house" buyers. 

You can place restrictions (give less loans) to 2nd and 3rd home buyers.  Please use common sense. The country is being forced into a slowdown because Kerajaan Sewel is not using much common sense.

Now here is that UPSR fiasco. Here are some funny graphics:

This is ridiculous. This is now happening every year. As always some people are looking for excuses. They say that the culprit who leaked the exam papers used a smartfone to record the exam papers. So it is the fault of technology. What kind of excuse is that?

In UK, US, Japan they have even more canggih smartfones and cameras yet they do not have these types of leakages. Plus they are negara kafir. How come their amanah is better? Negara siapa kafir yang sebenarnya?

Now 465,000 students have to resit their papers just because someone pecah amanah.  Travel plans have to be cancelled or rescheduled. Who cares? 

These things never or very, very rarely happened before. Now under Najib everything is falling apart.