Reported 9 months ago
From August last year to the end of May this year, the New Youth Comfort Loans have benefited over 50,000 households in a 10-month period. However, recent government measures to strengthen control over the loaning system, such as limiting loans to be granted once per person, may not effectively cool down the housing market, where the main driver of the market heat is public anticipation of inflation rather than the loan system itself. Critics point out that the recent government measures may not be focused on the right aspects, raising concerns about potential negative impacts on responsible banks and the inability to control non-loan purchases. The article further discusses challenges and potential loopholes in the implementation of the new loan restriction rule, which may impact first-time homebuyers and escalate the chaos in the housing market caused by the New Youth Comfort Loans.
Source: YAHOO