Implementation Of A Maximum LTV of 70%, for 3rd properties and beyond only...
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 Dec 12 2010, 06:14 PM
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#1
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Junior Member
113 posts Joined: Feb 2010 
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1 question...how does this move help 1 time house buyers if the price dun decrease?
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Dec 12 2010, 10:29 PM
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#2
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Junior Member
113 posts Joined: Feb 2010
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I think this max 70% will only stop the middle income from owning more than 2 houses....the big fishes....the ultra rich...do u think this will stop them? It actual benefit the wealthy...now less competition from the middle income to buy the strategic houses.....it they are really serious of stoping speculator just put a ban of 2 house per person..or in China..1 house per person...so it does not matter if ure rich or not..u just get to purchase 1 house...
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Dec 13 2010, 11:03 PM
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#3
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Junior Member
113 posts Joined: Feb 2010
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QUOTE(cherroy @ Dec 13 2010, 12:26 AM) Both of your posts highlight another issue on the properties. But that is assuming the ultra rich are good nice people...who would not sell even if there is a property crash...if there are many of these good nice rich people...the world would be much safer place to live in....less volatility Actually, the economy and RE market do not scare the ultra-rich to own 10 properties or speculator the properties using their own money. If ultra-rich can buy 100 houses with cash, then let be it. It won't cause any systemic catastrophere effect even property market plunge. The RE and economy most fear is people using leverage to "play" the properties market, which buyers do not have those kind of money in the first place, or not able to sustain from their own financial situation. The ultimate evil is the leverage + speculative. Speculative alone won't cause too much problem afterwards even market collapse. It is the leverage part that can kill. 2008 financial crisis resulted from RE bubble bursting is all about leverage. Ultra-rich can hold for years on those vacant house for years, it doesn't matter for them. Why fire-sales the properties that bought 1 mil and sell it for 500k? Might as well keep it like into freeze, after all, they are ultra-rich, doesn't urgent need the 500K, what if hold 10 years later on, it become 2 mil, by then only sell also not too late.  more often than not...they are the actual market movers....even when they enter the market..they already have an exit plan...they came in big...they will come out big....leaving all the small fishes to fry.... these are the speculators that caused havoc during financial crisis 1998....they came in stock market as well as the currency....push up the prices so high....when the small investors are attracted and buy high...thats the time they leave the market... It is these ultra rich speculators that are entering markets and causing all the havoc...only they would have the funds to do it...some even say its a syndicate...who ever they are ....they are undetectable...u can only see the market movements to know their presence.... These are the people our ex PM was talking about the rogue speculators...of course the the West countered saying Malaysia suffered in the financial crisis 1998 due to cronyism, nepotism, mismanagement,etc,etc....because the West said it...we must believe what they say..Soros even said Tun Mahathir is menace to his country....since they know more about economics than Asians....so the good guys are the speculators because they help discipline the government...the bad guys are the government...when actual fact it is the speculators which is causing the bubble burst...  their trademark would be before the storm happens...prices of the target market would be increasing abnormal....I don't know if they have entered the property market...but prices are abnormally high... |
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