It is criminal to force our young into huge debt
Do not force our young into acquiring huge debt in the purchase of properties. This is a very wicked thing to do when seemingly responsible people are blowing the trumpet of prudence and not spending beyond one’s means.
Young people, fresh from schools, should be encouraged to save rather than to force them into buying big ticket items that run into several hundred thousands or millions of dollars and hang a big mortgage mill on their necks. They should be saving their first few years of income to act as security, to cushion from upheavals and upsets in the early stage of their lives.
The govt should make it a priority to provide young people the opportunity to buy their first flat, to start life, in a thrifty manner. The outrageous income ceilings on first time buyers of public housing is daylight robbery, forbidding the young people from a little savings and forcing them to spend all their income/savings in their first home.
Only very wicked people would conceive of such a policy and peddle it as good. As it is, public housing is no longer cheap and the ceiling is obnoxiously low and unjustified.