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 Implementation Of A Maximum LTV of 70%, for 3rd properties and beyond only...

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truelife
post Nov 5 2010, 07:31 PM

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QUOTE(MoneyQueen @ Nov 5 2010, 12:49 PM)
Stupid policy, it only affect low & medium income people... rich people care the 10% or 30%??? My property investors told me it is good chance for them. they are cash rich & borrow from bank at the same time. It is good for them because those low & medium income people cannot afford to buy more, but they can~!~!~! My low & medium income customers complain even they want to buy something below RM200k also hard now due to this new policy. What a good policy huh???
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that's right ! the rich will become richer. just imagine this. the rich is used to afford to buy a property cost 1mil. they can fork out 100k downpayment. but because of LTV 70% for 3rd property, they will swift to medium cost house as they can now fork out 90k to buy a house cost 300k. if more rich investors buy medium cost houses, this will push up the price for properties in the category of 220k to 500k price range and make these properties very unaffordable and speculative. lower income group still cannot find a dream home !
truelife
post Nov 6 2010, 12:09 AM

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QUOTE(epalbee3 @ Nov 5 2010, 08:54 PM)
you should think like this, previously the rich people is able to speculate on 3 properties of 350k, now they only able to speculate one.. so the house prices will be affordable. There are 1/3 number less speculators everywhere..

if 1 million property cannot be cooked, they will drop to original value of 600k then continue to push the lower level houses. SO it is still better for the poor.

Less speculative loans are released to the RE, so the real buyers can buy the house with real prices, not the speculated one.. That is what i think...
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it seems you refuse to accept the fact that the price for medium price range properties will be pushed up further. previously those had a bigger appetite for high end properties will still buy properties, but this time the focus will be lower price properties. this policy will only help to curb speculation in high end properties, but not mid range properties.





QUOTE(Drian @ Nov 5 2010, 11:32 PM)
Well why switch only now? They can buy TWO medium cost house instead of one high cost property as well even before the ruling starts. So?
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last time they had more options. but this time the target is mid range properties. this policy in fact can encourage speculation in mid price properties, especially those below 500k.
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