From a foreign point of view, it is true. It is more affordable for them. But this isn't an indication that our markets can be as high as other countries.

The market price depends on the main consumer. And the main consumers are having a hard time acquiring props, now even pulling in FAMA to assist. Next generation, sorry no more money.

Oh Yes, I do remember it.

At that time I was like.... o.O? Who are they trying to con?

Can somebody explain to me why banks are getting more restrictive?

[URL=http://biz.thestar.com.my/news/story.asp?file=/2011/9/7/business/9439197&sec=business] Property players concerned over new housing loan criteria proposal
[/URL]


Why are they trying to shoot themselves in the foot?


Could it be, it's better to shoot their foot, then to continue running off a cliff?

This post has been edited by TheDoer: Sep 8 2011, 11:34 AM

Something to ponder....

If tomorrow the price of our prop reaches billions, is this something to be happy about?

Does this mean we have become rich? Or simply inflation has took place, and probably from our own kiasu actions?

Issue is inflation; isn't it a crying shame, if we were the ones who made it worst in pursuit of own security?

Knowing that the boat is sinking, causing panic, pushing people into the water, hogging a few life boats to ensure your family gets in, while disallowing anyone else to get in until then.

You've just made matters much worst.

This post has been edited by TheDoer: Sep 8 2011, 02:12 PM

It's a shame if we know there's a problem, and we condone it.

There is infact something we can do. We have laws, policies, and of course common understanding between our fellow man.

We could have stricter laws to discourage speculation. But we don't because, everybody is thinking of buy buy buy, profit profit profit, it's not about survival any more.

In japan during the last natural disaster people chose to be orderly, when naturally they'd be ahead if they thought solely of themselves.

This post has been edited by TheDoer: Sep 8 2011, 02:32 PM

Fear not londoners, EPF and fellow Malaysian investors will come and save you. And if malaysia the property heaven's people are going to london, rest assure honkies and other rich taukes will come and take up the props you don't want.

As they say, whenever somebody doesn't want, that hole will be quickly filled by others who would take advantage of the situation.

So there's actually no such thing as a bubble.

=.= Let's all see shall we?

And the laws are writen by us.

If there is a demand, laws can be ammended. But right now the general mindset is buy buy buy.

We know there's a problem. Naturally this means the current laws are inadequate. We are playing with fire. We know we always get burn, but we keep doing it. Cycle after cycle.

If my salary increased together with the price of props. Then it simply means my salary has never moved at all. Whereas the freshies will be getting even less than me. So, if the trend continues, each generation will be getting ever so further away from being able to afford a home.

This just proves the problem is a global one.

For the definition of investor/speculator you need to look at the purpose. All money making jobs in this world has a purpose.

For someone to be considered an investor, look at the purpose of his action. Is he buying the land, developing it, then selling back to people who would not otherwise know what to do with that land? Would this prop not get developed without this persons help?

Or is he buying it, hording it, let it grow mushrooms, then later sell it back at exagerated prices. A waste of good resources, solely in the name of parking his money.

Like as though other people does not need to park their money, and that parking money is of higher priority than someone owning his own home.

This post has been edited by TheDoer: Sep 9 2011, 02:51 PM

You know I have worked with communist before and I shaked my head because a common labourer thinks they should be getting the same salary as an executive.

I do believe in rewarding because of merit.

The question is, what is the merit? Are we focusing our energy on the right economic activities, or otherwise?

We all know pyramid schemes's are wrong. Why?

This post has been edited by TheDoer: Sep 9 2011, 03:11 PM

well you're right, we only have 1 earth. And there are a few ways we can look at it.

One, we each try to snatch as much of it as we can. Everybody for himself.

or the other side of the coin, we could ask for equal rights, resource based economy, everything is free and everybody has access to everything. (Which I have also condemn to being extreme)

Or we could recognize when we are faced with a problem, and live within our means. Do we really have land scarcity problem now? No. In future? Perhaps.

What we should do is have policies, to control sustainable growth. Even our population has it's limits. Struggling with each other doesn't solve the problem. Limiting our needs does.

Yeah. Trully a concern.

I think we should tighten our policies to prevent foreign "speculation".

All the same, it should discourage "speculation" and encourage "investment" for both foreigners and locals.

This post has been edited by TheDoer: Sep 12 2011, 09:39 AM

Indeed. A person can swim as far out to sea as he is optimistic enough that he can. But his current progress isn't an indication that he can still carry on and he won't drown a little later.

I'm not sure how it works in malaysia, but I don't think that's how it works abroad.

Could it be that perhaps being a bad paymaster coincidentally also makes you bad at paying your bills?



I think our local banking industry is super lax. They keep lending like there's no tomorrow.

The prob is the loan agents are paid comission, so they don't really care, I bet they'll even falsify some info for you.

This post has been edited by TheDoer: Sep 28 2011, 10:41 AM

Perhaps the seller had requested a price higher than the bank's perceived value of the prop.

Do update us, if it was approved/rejected.

I was talking about your friends who, you said had just applied.

Actually, "good cash flow" is subjective.

I think it all adds up. How much cash you have, your current debts, your assets, your debt clearance history, amount being borrowed, collateral estimated price.

Not many people realise this but, Credit cards are considered debt as well.

If you have 2 or 3 CC, with 5K, 10K limit, each. It's potential debt.

Another thing is, bonuses and commissions should not be considered as cash flow as they may caese at a blink of an eye.

This is how banks are suppose to evaluate. If anyone says their loan agent falsified this info, or that the bank doesn't consider this. Then I'd be seriously concerned about our banks.

Just to share. PTPTN should be part of ccris.



Previous PTPTN contracts do not include them(not sure about new contracts). Loan agents don't bother to ask and put it in the application, when they should.

With the new 1% interest rate, your PTPTN Loan details will now be accessible by banks. This is part of the catch.