Apa Faktor Yang Membuat Millenial Susah Beli Rumah?

Summary

The video script discusses the increasing difficulty for millennials to afford homes in the future, driven by rising interest rates and inflation. It highlights how higher interest rates, due to actions by the Federal Reserve, make home financing more expensive, impacting purchasing power. Additionally, the script explores factors such as rising property prices, limited availability of homes, and the challenges of securing loans in Indonesia. It also touches on global economic issues, including stagflation and its effects on wages and living costs, emphasizing the complex relationship between macroeconomic policies and individual financial struggles.

Takeaways

• 😀 The rising interest rates, especially in the U.S. due to The Fed's actions, are making it harder for millennials to afford homes.
• 😀 The major increase in interest rates by The Fed, the largest in 30 years, impacts the affordability of homes globally, including in Indonesia.
• 😀 Inflation in the U.S. is partly driven by the massive amount of money printed in 2020, which is now being tackled by raising interest rates.
• 😀 The interest rate hike is aimed at encouraging people to save rather than spend, which reduces market liquidity and can eventually lead to lower prices.
• 😀 As global interest rates rise, other countries, including Indonesia, must follow suit to stay competitive and avoid capital outflow.
• 😀 The Indonesian housing market faces challenges from high prices, a growing backlog of families without homes, and limited access to financing.
• 😀 Property prices in Indonesia, particularly in the Jakarta metropolitan area, have seen significant increases, with median prices reaching as high as 20 million IDR per square meter in Jakarta.
• 😀 Access to mortgages in Indonesia is limited, with a relatively low percentage of the GDP allocated to mortgages, making it harder for the average person to afford a home.
• 😀 The lack of affordable housing is exacerbated by speculators investing in property, driving up prices, while many people still struggle to secure homes.
• 😀 The rise of floating interest rates in mortgages, which follow the central bank's benchmark rates, makes long-term homeownership more financially challenging for many.

Q & A

Why does Sri Mulyani predict that millennials will face increasing difficulty in buying homes?

Sri Mulyani predicts that millennials will face difficulty in buying homes due to the increasing cost of homes driven by rising interest rates and inflation. The tightening of monetary policies, especially the Federal Reserve's hike in interest rates, is making housing more expensive and less affordable.

What role do interest rates play in the housing market, according to the script?

Interest rates play a significant role in the housing market as they directly affect mortgage payments. When interest rates rise, the cost of borrowing increases, making it harder for individuals to afford a home. This is why the increase in interest rates by the Fed is impacting the ability of people to secure affordable housing.

How does the Federal Reserve's decision to raise interest rates impact other countries, such as Indonesia?

The Federal Reserve's decision to raise interest rates influences global markets, as it leads to a stronger US dollar. As a result, other countries, including Indonesia, are compelled to raise their own interest rates to remain competitive in the global financial market and prevent capital outflows to the US.

Why is the price of property in Indonesia, particularly in Jabodetabek, continuing to rise?

The price of property in Indonesia, especially in Jabodetabek, continues to rise due to a combination of factors, including high demand for housing, limited supply, and increasing construction costs. The average price of homes in key areas is increasing, with cities like Jakarta seeing substantial price hikes.

What is the significance of the 'backlog' of families without homes in Indonesia?

The 'backlog' refers to the increasing number of families in Indonesia who do not own homes, which has grown over the years. This backlog indicates a supply-demand imbalance in the housing market, further exacerbating the difficulty for many to afford homes, particularly in urban areas.

How does the availability of mortgage loans (KPR) in Indonesia compare to other countries?

The availability of mortgage loans (KPR) in Indonesia is relatively low compared to developed countries. KPR in Indonesia accounts for only about 3% of the country's GDP, which is significantly lower than in countries like Singapore, where it accounts for 30%. This makes it harder for people in Indonesia to access financing for home purchases.

What impact does the increasing number of failed mortgage payments (NPLs) have on the housing market?

The rising number of failed mortgage payments (NPLs) signals growing financial strain on homeowners, leading banks to become more cautious. As a result, banks may raise interest rates or tighten lending standards, making it even more difficult for potential homeowners to secure financing.

What are the potential benefits of the government’s policy to waive VAT on certain homes in Indonesia?

The government’s policy to waive VAT on homes below a certain price threshold helps make homeownership more accessible to first-time buyers. This can be particularly beneficial for individuals seeking to purchase their first home, as it reduces the overall cost of acquisition.

What is the difference between fixed-rate and floating-rate mortgages, and why is this distinction important in the current economic climate?

Fixed-rate mortgages have a constant interest rate throughout the loan term, whereas floating-rate mortgages are subject to changes based on the central bank’s interest rate decisions. In the current economic climate, with rising interest rates, floating-rate mortgages are riskier as monthly payments can increase significantly, making them less affordable.

How do property speculators contribute to the rising cost of housing?

Property speculators contribute to the rising cost of housing by purchasing homes or land not for personal use but for investment purposes. This speculative demand drives up prices, making homes more expensive for people who actually need them for living, rather than as financial assets.