Reported 8 months ago
Since the introduction of the New Youth Housing Loans, over 50,000 people have applied, helping young people afford to buy houses but also causing a surge in housing prices. People's Party Chairman Ko Wen-je expressed concerns that those who have not yet purchased homes are distressed by the high prices, while those who have bought are burdened with higher mortgage payments. Ko Wen-je criticized that besides helping unsold developers and trapped investors, the New Youth Housing Loans contribute little to housing justice. He warned about the potential social and financial problems arising from the loans, urging the government to prevent perpetual housing price increases to avoid a crisis similar to the US mortgage meltdown.
Source: YAHOO