And that is the best advise as a regional consultant have towards the upcoming economic crisis?

Just hold your horse? You must be kidding me.

This post has been edited by kidmad: Sep 9 2011, 03:38 PM

Well that's one of the main reason as well why i don't feel insecure unlike others. SD controlled tightly left and right, north and south of KV. if they want things to go up up and up they just stop building and let everyone fight for the small piece of lands in KV.

There are 101 methods for us to move ourselves out from the debt issue. Property? It's one of it but there is still much easier way to resolve them.

APAC = Asia Pacific region

Which area spike 50% - 100%? you know the raw material use to build a house increase by 30% also right? You keep showing figures but you got no facts to prove what you have written. Keep taking articles and articles and articles. I keep asking who are you and you don't seem to get my point. You replied that you are a Regional Financial Consultant? That really gave me a big LOL. Talking to you is as if talking to someone who does not want to listen but to only stand defensive on his/her own stand.

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Added on September 12, 2011, 11:20 amWow...good figure there. I've did some breakdown as well on my daily expenses and so on and now adays there are loads of ppl at mid 20's who are already earning more than 5k. Base on your calculation someone who earn rm3k could already afford a place of their own.

I guess there are 2 kind of ppl in this forum.
1 - is to work within their mean to archive their goal.
2 - taking an excuse to say no and expecting everything to be favorable to them.

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Added on September 12, 2011, 11:28 ambro, your calculation is true. Mine adding up a total of RM2.7k. As a freshie i came out with a salary of around RM3.3k after deducting i will be getting around 2.9k. I survive ngam ngam only for my 1st job thus i lost quite a number of opportunity in buying my own stay. But now being more capable my expenditure is around the same and after getting my own place to stay it only increased by rm400 because of RM1.4k laon repayment ma. Still i am happy with it and i have alot of free play to move around with my monthly income.

This post has been edited by kidmad: Sep 12 2011, 11:28 AM

Don't quite get what you mean but considering someone with RM3k. I calculated before the best bet i can go for is a RM160,000. Anything above please reconsider. Usually only can get walk up apartment but still it's a bargain. I would not use the term as an investment if i were to consider buying a property instead i always think of it as a saving for myself. Imagine this, for eg: i am saving rm1.5k monthly into my bank.. instead of putting in bluntly into my saving account i use this instead to buy a decent place whether for own stay or renting out. If it's for own stay, i save up on rental, if for renting out most likely someone will be paying partially of your loan repayment to the bank for you.

After 5 years even if the home which we purchased did not appreciate! i still get back my savings! that's how the way i see it, but of course you have to endure in order for you to get the initial 10% down payment. I ain't that lucky as compare to some others who already had a home in Klang Valley. I had to fork up extra for accommodation and food. For those who are staying with parents i don't think there is any reason for you not to save and get a home as part of your savings.

.... Is that the only reason? Or is there more... I am not financial consultant but from what I've been reading, Obama had a couple proposal to Congress on how they should tackle the crisis which they are having there. Unfortunately there is still no actions taken as it's being rejected for a couple of times. Don't you think this is the main factor for their current dire situation? I really want to see what is the reply of our advisor here.

This post has been edited by kidmad: Sep 12 2011, 12:08 PM

Well i got to agree to you on some point at this, if it really turn bad i think growing backward might happen until the point where the cost of building = selling price. But dropping by 50% or 100%? haha i might need to wait until the day i lye in my coffin.

if buying for own stay anytime is a good time. Renting is worst... i'm paying rm850 rental last time. 1 year itself is near to 9k++

i think the agent is a malay . No offence but i just got another condo last week for temporary stay as i am selling my current home. The agent asked me why am i buying at this time? She say economy is quite bad in the US la, advise you might want to wait la. Haha. If the agent is a chinese lady i bet it would be totally different kind of sales speech. i told her, it might be the the other way round. I am an IT person and in my industry during the US economy turmoil i see loads of investor trying to shift their operating offices, data centres, and regional office to SEA countries.

Singapore and Malaysia would be topping the list and that is a fact, given the reason that our ppl can converse in English quite fluently and we are safe from Natural Disaster. Another + point is that our government tax impose to companies in Malaysia which is ..... damn crappy... All you need to do is change your company name every 5 years and you can avoid paying the tax. The number of expat coming into malaysia had increase tremendously as well, this is also a fact.

If there is something which i need to worry, it would be how to minimize fuel consumption and transportation consumption. It's as high as my home loan installment. DAMN. Now import cars tax had increase. fuh~ i am impress with our government.

http://www.statistics.gov.my/portal/images...ld/HES_0910.pdf

This post has been edited by kidmad: Sep 12 2011, 02:43 PM

Cash is king.. coming out from a economic advisor.... you know the story about the bowl of curry mee 20 years back compared to now right? You now the value of a mansion 3 decades ago compared to now right?

I am really doubtful on you. Which bank or financial institute you are serving for now?

I am not judging but from his post it does not make sense at all. If i today buy a property should i look for a long period or just for this blardy 2 - 3 years time? I ain't no flipper and most of the average joe forumer here is the same. If we are a freaking millionaire or billionaire we would not be lurking in this forum asking for advise. Do you AGREE? From a post or a comment you can easily categorize them as some are willing to share, accept feedbacks, willing to lay low and say sorry if there is mistakes done but it seems there are certain numbskull who never agree and when ppl needs a home as they are building a family soon they still they ask ppl to hold their horses? wait for what? 2012 to happen?

If you ain't no LGT (MY), or LKS (HK) then don't comment as if the property market is going down for sure. I myself am not sure despite i spend my leisure time reading reading and reading thus i did not comment until this joker and another one keep asking ppl not to buy a home. I had bad experience listening to some idiot 4 years back and i missed my chance and i do not want this to happen to anyone of us here in the next 4 years time.

I do not know how many times we need to stress! people need a home no matter what, and if you need it now just buy it for your own stay there is no harm. Buy within your means and time and tide wait for no one. So now my question is? why can't you compare things in a longer run instead only for a year or 2?

oh man, and your calling yourself a financial consultant? facts? where is your facts? figure plugged out from some articles back dated in 2007? Statistics and graph base on UK and US? Do you actually know what your doing in your own field?

I'm not an economic advisor but being a IT consultant i do know what consultancy job is all about. Like all consultancy job... It started with analysis and the 1st part itself you've failed. We do not need to mention other task like risk assessment, ROI, approach and methodology.. etc I do not know how many times i need to say this, but if you can't guarantee that the market will fall then DO NOT tell anyone else that it will. What's the point keep posting telling everyone base on your so called "facts" which was not even being written / studied by u. If your a so called economic advisor. Do LYN community a favor, give us some analysis from your end and not a no brainer 1 liner and pluck out figures base on US and UK statistics.

I'm not an economic advisor nor any real estate agent. I do not side to flippers and yet i strongly disagree if you are asking each and every single one not to buy. Someone who wants to build a family and you guys asked the fellow to rent instead of buying? Come on do better than that, that's not even close to constructive comment.

I do not look at graph and statistics because it failed me 4 years back and all i can share is my past experience. I've been living here in KLANG VALLEY for 9 years and I've gone through 2007/2008 while working. I've stayed here renting for 4 years and the total amount which i paid and serve the loan for others was more than > RM35k. If i need a home and i do not get it and continue serving the loan for others.. Do you even think it's wise? 4 years for blardy RM35k? You can gurantee that the property will drop more than 40k in 4 years time? As a consultant i can't be sure whether the price will be going up or down, but i can still know how much i've lost for the past 4 years and how much i am going to LOSE if i don't get a home for myself in KV soon.

If you insist that the economy will go down property price will go down, at least PUT YOURSELF in other people's shoe before commenting. Blindly asking ppl not to buy is not the way and as a consultant/advisor we do not make decision for our bosses but instead we tabulate facts and figures, logic reasoning, and your 5 year plan analysis as part of it . If you are indeed a consultant, please practice the professionalism. Don't be the idiot who once told me not to buy despite i need a home.

*Read back V1 and V2. I did comment as well and i am hoping the property price will be going down but unlike you i do not comment unprofessionally because i know some ppl will not take this comment lightly and if they followed your way and it did not happen are they able to claim anything from you asides misery?

This post has been edited by kidmad: Sep 12 2011, 07:18 PM

Not only that, statistic had told us that only 20% of malaysian are earning RM3.5k on an average. How do they expect the other 80% to buy a property? The government should really tackle the root issue in Malaysia. How much do we have extra monthly if we could have better public transportation, cheaper accommodation, cheaper food. Living expenses should be gradually increasing steadily according to our income but in MY we have a different scenario.

This is the worst case! mak doi... 1.2m supporting a population of 30m? These are really issues which we need to focus on before we worry about property prices going down. I don't see the logic in this seriously. Other develop countries they are contributing as much as 26% of their income to the government but ours is GAP at 26%. haha.

This post has been edited by kidmad: Sep 14 2011, 11:23 AM

bro, not exactly true. If you do not know that, let me quote this which is currently still happening in Malaysia.

To encourage investment in the promoted areas i.e. the States of Sabah and Sarawak and the designated "Eastern Corridor"+ of Peninsular Malaysia, applications received from 13 September 2003 from companies located in these areas will enjoy a 100% tax exemption on their statutory income during their 5-year exemption period. Companies which have been granted approval for this incentive but have not commenced commercial production, or applications under consideration, are also eligible. All project applications received by December 31, 2010 are eligible for this enhanced incentive.

I've been walking into many customer office previously and i know there are loads of company outside which actually change their name every 5 year and operation will still go on as usual. This is really something not healthy. My company itself had changed their name for the 3rd time just because of this tax exemption.

+1, well to be honest i still can't accept the fact that gold will replace the current currency, If there is something which will take replace of the current currency it might be transactions online. Now days ppl are buying gold especially from bank investment, but i am really skeptical on whether the bank has that much of gold reserve.

Anyway. I still believe on the basics roof, cloths, food and now we really need to take into consideration on transportation and communication if you want to move yourself even during the bad days to come.

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Added on September 15, 2011, 10:59 amagree, and i don't see the logic on it as well. While others are betting on gold prices i choose to have a place for me to call home and some funds to make sure i can still buy food and feed myself.

This post has been edited by kidmad: Sep 15 2011, 10:59 AM

Agree, that time i really gotta lock my doors stock up more food and sit tight to weather the storm.

bro, heard from radio it would be about the ISA and also media censorship. It would be great if he announce AP will not be distributed anymore. With that i can guarantee next GE he will gain LOADS of votes!!!

+1 i do think so too. Somehow i think it's pretty high at the moment. Increasing any further it might burst worst compared to our stock market currently.

This is the person who deserve to sleep under the bridge if we are hit hard with an economy downfall

seriously, i don't property price dropping especially the 2 places which i am looking for. Bandar Bukit Raja & Setia Alam. I'm looking for a landed freehold property but still there is not even a slightest sign of prices dropping instead... less ppl are selling.

Let me have a look bro, was looking for something <RM500k.

+1 that's exactly what we need to do. If the economy is going to be bad, boost it up. Work harder spend wisely. Unfortunately in this forum there are some who are predicting that the economy will go upside down soon. Well i hope their prediction would not cost others to lose their opportunity in owning a home.

Hurm, well it's a good option but the thing is that my mum will be coming down next year so i need to find a bigger place for her afterall she would be the one paying not me and it's for own stay.