And this is mine / our point precisely.
It is the LONG TERM which is what these kids refuse to consider (and CX prey on). "But I have friends at CX as iCadets who are getting by OK...." Really? But are they saving and able to plan for a secure future? No. Many posts back I calculated approximately 22 years, give or take a few of course, before an iCadet starting from zero could afford to OWN outright a property in HK (valued at approx $5.5 million HKD). Their savings capacity against their salary, the lending requirements mixed with a diminishing net housing package, inflation..... No. And no sympathy for this guy in question. He made his bed and only now he's finding the fleas, bed bugs & lice that he was told were prevalent.
I would be assuming he would be watching every dollar, has been for some time and still is only able to "save" $10k HKD per month. And again I'll wager he hasn't factored in a potential family, kids, single income with pregnant wife, not to mention life's "what if's" that will happen if he is remotely surprised by the bank's response.
What astounds me even more that the iCadet in this example didn't take Truss' advice and make quick 'n easy millions from the stock market?
Then again, what would banks or lending institutions know.....