Malaysians want all the trappings of middle-class lifestyles, such as televisions, refrigerators and cars. But the problem, according to a new report, is that they don’t have the money for it, and many households in the country have taken on unsustainable debt. Despite a substantial growth in incomes in recent years, Malaysians are borrowing more than they can afford in order to buy consumer goods. The report also found that home ownership is increasingly out of reach for most Malaysians, with the average home now costing more than five times the median income.
