Uncles, i concur with ya all 2 .. but only part of it.
I agree most people are playing the market game but it was the bank loan game that won the transaction numbers.
i also tend to agree people who had experienced 1985, 1998 are more cautious. But that doesnt mean you understand better than the younger generation. In fact, you should look at what the younger generation demands. The world has changed.
In fact those age 28-35 are the biggest group of house buyers.
I also agree the house price has gone overboard but actually not too much overprice. Bank loan is only 10-20% lower than market price ..
I think if anything happen, that's what the market will experience.
And please dont compare US, UK, China, etc. If you do compare, please compare capital city with capital city like NY, London, Beijing, then you will see how much cheaper KL is.
And having to say all these countries in crisis, doesnt stop the speculators to malaysia. In fact, they would prefer to because malaysia has not join the bandwagon. But i dont think the speculators are also interested in malaysia due to their change of policy.
In fact, i believe house price increase in recent years are due to rising inflation, rising material cost, and rising labour cost.
Malaysia house is now more expensive, but come on, the whole world is facing the same problem. i feel malaysia is always slower to react compared to other countries. Some may already have the peak and having some slowdown which is good.
Are we at the peak ? To say we face slowdown, maybe. To say we face bad recession, a big NO.