Once again, a Penang Institute has become a victim of twisted reporting when a Bernama inform carried by The Star Online dated 8 December 2012 settled that: "A investigate by Penang Institute, a organization which undertakes formulation for a state government, settled which those earning next RM2,700 would not be means to means homes upon a island by 2014."
The essay goes upon to quote BN Penang Chairman Teng Chang Yeow as observant which it "is frightening though a supervision of a opposition coalition in a state does not have a process to overcome a problem."
The conclusion arrived during in a news inform is misleading since it does not place a Penang Institute investigate in a correct context. Our October 2011 paper patrician "Housing marketplace trends as good as affordability" actually hypothesises which lower-middle income groups upon a island will face housing affordability issues formed upon a arrogance of three critical considerations: trends in housing price inflation, trends in wage rate acceleration as good as some-more importantly, if no action is taken to residence a housing issue. None of these considerations were referred to in a news reports.
Furthermore, extensive investigate by a Penang Institute has found which a housing complaint in Penang is in vast part due to a bequest of failed housing process over several decades, in which formulation as good as process were arbitrarily implemented though any bargain of a needs of a marketplace as good as though regard for demographic changes. This has resulted in pockets of gaps all over a state due to supply not ! matching demand.
BN's bequest of failed housing policy
However, while in isolation skill prices as good as salary have been beyond a state's influence, a Penang Institute is gratified to note which a Penang state supervision has been responsive not only by recognising a emanate though additionally by taking measures to residence it.
The Penang state supervision has in recent times set up a RM500 million affordable housing fund as good as committed to office building 18,000 units of affordable homes, together with some-more than a thousand homes upon nine acres along Jalan SP Chelliah in a heart of George Town to cater for a housing needs of a lower as good as center income groups. Also in a pipeline have been 12,000 units of affordable homes which will be written by leading international consultant, Surbana (formerly known as HDB Corporation).
It is thus transparent which a state supervision of Penang has taken active stairs together with engaging a Penang Institute to control some-more thorough investigate upon a housing emanate in order to delineate evidence-based process which will residence a housing gaps in a state in a some-more nuanced as good as holistic manner.
Hence, accusations which a state supervision has no process to deal with a emanate have been baseless as good as undeveloped of a many measures taken.
The Penang Institute thus regrets a actions of certain buliding in quoting the studies out of a correct context, as good as hopes which such counsel distortions for political gains will cease immediately.
Zairil Khir Johari, CEO of Penang Institute,George Town
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