Owning homeout of reach

THE EDITOR: Rising real estate prices pose significant challenges for the young generation. Both land and house prices have become unaffordable, making it difficult for them to own a property. Even attempting to build a house on their own is financially daunting, as materials and labour costs are beyond their means.

Despite long-term mortgages offered by finance houses and banks, their small salaries and limited income growth of only four per cent create an impossible situation for most young individuals.

The dream of home ownership seems out of reach, hampering their financial stability and future prospects.

GORDON LAUGHLIN

via e-mail