But you will have to forfeit your booking downpayment right?

haha... yep... what this means is print more notes. We still get paid the same amount of foreign currency, just that we have more RM for our squables. Including the price of teh tarik, or prop price, since we won't be able to afford props by then. So if the price doesn't drop, then our wage (the number of zeroes) has to go up.

This post has been edited by TheDoer: Apr 19 2011, 04:31 PM

Oh god... I wouldn't dare think.

When you know you have a rotten tooth, you always wish it to fall out soon, even if it has temporarily stopped aching.

Since we are already headed for a bubble, why not sonner than later? The sooner we learn our lesson, the less we have to suffer.

Exactly, an economy crisis and property bubble burst, is inevitable. Live with it, try to ease it.

DO NOT MAKE YOUR FELLOW HUMAN BEING SUFFER FOR YOUR OWN BENEFIT.

(Addressing everybody)

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Added on April 25, 2011, 10:57 amA runaway train, without breaks. Should you speed up, or slow down? It appears that you're constantly in control, until you hit a wall.

This post has been edited by TheDoer: Apr 25 2011, 10:57 AM

Ah... that's a money sink hole. I hope they have enough to dump in.

Out of topic: I would like to point out that Job hop, helps neither the company nor the economy. Should we instead encourage, companies to pay us more without job hopping?

Demand driven by nothing more than over enthusiasm and optimism?

These things change at the flip of the hat.

Should instead be wondering whether there are alot of genuine homeowners who can afford still out there. As the price goes up, naturally there will be less and less of them.

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Added on April 28, 2011, 5:06 pmIf it is so easy to buy a house, despite the price hike. Why do you think ppl want to rent from you? They will probably buy 1 or 2 themselves for "investment".

This post has been edited by TheDoer: Apr 28 2011, 05:06 PM

I guess rental, is a good indicator of non speculative demand. Nobody is renting to speculate.

Speculative demand is nothing but hot air, when the bubble pops it all gets released.

Interesting you should mention, I recently noted; while the price of house in Melaka has increased steady (including sub sale). A double storey terrace in my area is renting at RM300 for the Whole unit. Imagine if someone were to get a new house further away from town, they'd be paying more than 1K permonth, and way pass their their retirement.

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Added on April 29, 2011, 5:08 pmSign that times are getting hard, that demand is being snuffed by price.



This post has been edited by TheDoer: Apr 29 2011, 05:08 PM

Lol... haha... completely agree with you. but my version was, BBQ or Lim Teh, as I don't play mahjong

If for ownstay, buy what you can afford, when you can afford.

I'm not surprised. The keyword here is asking price. He can raise it to a few billion too if he wants. But will anybody buy it? perhaps.

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Added on May 4, 2011, 10:30 amWe humans are funny creatures. We do not hesitate to line up outside a restaurant, if there already is a long line waiting. We think that just because the place is popular, automatically, it guarantees the Best!

Ask them why they were waiting there, and everybody says, well because I saw that there was alot of people here.

How many people actually, measure and weigh the quality of the stuff provided by the shop?

Give you an example... if one person started looking up a building and started pointing upwards... soon you will see more and more people gather looking upwards.

But of course, how long can this last? Soon people start realising there is actually nothing to look at to begin with.

This post has been edited by TheDoer: May 4 2011, 10:30 AM

As I had mentioned. Getting a renter in my area is quite difficult, and he will get RM300 monthly for the whole house.

Compare this with the monthly loan repayment. That is chicken feed.

And yet, there are "optimistic" owners who refuse to let go of their props according to what other houses in the area are going for. They markup the price, while the empty houses continue to deteriorate. Someone has to be the loser here. Either the speculator, or the eventual buyer.

After listening to everyone's advice on this thread. It has "convinced" me to buy a house now, rather than wait till the property goes up further. Alas, after combining both me and my gf's income, it would appear, we would have to live off bread and water for the rest of our lives.

No more, korean, japanese or cafe food... no more mamak mix rice (quite expensive these days too). No more going outstation, and definately no souvenirs for your relative's little ones. Would have to put off buying a new car, and perhaps get a motorcycle ones my car breaksdown.

And to think, this prop, is in the middle of no where.

Hurray for progress....

Wake up speculators!

Nah.. not yet... haiz now pening about it.

Should I take a risk, empty all my savings and take a loan which I would on paper barely survive on?

Hopefully before I marry and have kids my annual increment will be enough to feed them.

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Added on May 9, 2011, 3:35 pmI'm worried like what the rest here say. What if shit happens? what if we are hit by another economic crisis?

Also, the pay here in melaka, increases like 100+ annually, That's about the same as the cost of inflation.

It's a big gamble.

This post has been edited by TheDoer: May 9 2011, 03:37 PM

ah... worth considering...

but with all gov schemes there's always a catch.

Like the PTPTN loan interest reduction.

Tell you when I have.

Decision not made yet.

Anyway, I won't speculate like the rest. haha...

When all resort runs out, the prop price will see an adjustment, mark my words.

Thanks. I appreciate it.

Wah... crazy... they expect people with household income of Rm3000 to take a loan of RM1115?

RM220K, sounds more like something for an exec.



This post has been edited by TheDoer: May 12 2011, 10:19 AM

I did a quick calculation recently on monthly expense.

Assuming

Breakfast RM3 (roti + teh tarikh)
Lunch RM5 (Economy Rice + sky juice)
Dinner RM5 (Economy Rice + sky juice)
Total RM 13
13 * 30 days = RM 390

Which would be roughly RM400 permonth perperson. If I am making RM1500, and I pay RM 500 for a house loan I share with my wife. I am left with RM600 for everything else including, bills(phone, electric, water,newspaper subscription), children's food, children's education, babysitter fees, petrol, transport maintenance bill, insurance, household items (soap, shampoo, toothpaste)....

the list goes on.

How can they afford RM500 if they are making RM1500 each?

This post has been edited by TheDoer: May 12 2011, 10:29 AM

Yeah but the houses were meant for those with 3K household income right? It is simply not logical.