people did not connect the dots. its all about doors and cement, and windows, and glass, its not about the people, its about the money to be made. its about koto and c-max, these cabinet secretaries are agents working under instructions.
How can 1.5% of basic salary assist one acquire a home. Lets take everything constant for 15 years since if your salary increases annually same will happen to the cost of acquiring a home (In fact the cost will increase at higher rate than the salary).
A person earning 30K will contribute 450/= and employers will contribute same
In a month = 900/=
In an year = 10,800/=
in 20 years = 216,000/=
So can 216,000/= buy one a house. Wawache kutubeba ufala
Kenyans are very thick. They are not asking the hard questions. If the houses were that cheap would the government force them on the people? si tutazinunua upesi sana bila kusukumwa? Its better nioshe mikono sa ii than nikuje kulia later. I will not pity any kenyan mwenye atainama kuchukua sabuni then atiwe
So, what is the difference between this housing business and sportpesa? Si wapatie Karauri that project? Instead of betting to win cash, you win a house! Stupid guy
Haha, Hinga should have stuck to his initial word “balloted” and not got drawn into lottery which was introduced by his interviewer - it changed the meaning of the project.
Hinga is seeing the solution to our housing problem from above the cloud, the rest of us are interpreting it from below the clouds.
In many Countries the poorer social tenant becomes a homeowner by taking a mortgage to purchase the house they are paying rent on, they receive a discount based on the years they have resided in the house and paid full rent; rent arrears = disqualification from buying the social house.
It appears Hinga is proposing the same but in the revearse, we do not have the houses. We contribute to build, then own via mortgage.
It would work if there is a safeguard, guaranteed in law, over the contributions. If you don’t get a house within a certain period, you receive your contribution back plus interest, to self built or buy elsewhere.
The amount you contributed determine amount of morgage, the more you contribute, the less and fewer years you have to pay the mortgage.
In places where social tenants occupy a house which is not on the ‘to sell list’, the tenants continue to pay rent, as they await a property to be contructed or there turn on the waiting list.
Finally! Hope for humanity! At least someone who understands the issues and the solution devised . There is a 8 yr opt out period.
Or let’s just say he is a Gathecha relative who works for cmax. It will attract more likes.
I think Kenyans generally don’t understand the housing levy. The ‘lottery system’ will be used to determine who qualifies for a MORTGAGE, not a HOUSE. Then you will start making payments for the MORTGAGE including, a down payment and regular payments for a period of time. So, the housing levy is just a cash cow for the corrupt.
You miss a simple point. Why make it compulsory to participate in the scheme? What if I need to use my money now, rather than being forced to place it for some future speculatory benefit?