1st, you are wrong in the part 400k to 3k. That will not be approved by the bank and Najib had realize his mistake which they are considering to increase it to RM6k household income which i believe there is still no news on that. Please read the news paper more.

2nd, what do you mean lacking of quality affordable house? How affordable and how much quality do you need in a house? Raw material price had increase more than 30% since 2007 so do you think property prices will still be the same like what it used to be? Again, you are saying that your salary is suppose to be working along with the property price but have you done enough to make sure your salary is tally against the property value?

3rd, that is the worst thing you would want to happen, if government printing more money it's equivalent to money value falling. When currency value drops that's when ppl thought inflation is happening but it isn't. It's just that our currency had degraded to a level that last time it used to be RM1 but now the RM1 had became RM2. Thus when you think property prices is sky high, have you realize that the currency value which malaysia have today is 2.5 times lower compared to singapore which was once only 1.5 times lower?

*Instead of hoping for the wrong thing, why don't you do the right thing in the next GE? The root cause to Malaysia poverty it isn't because of the property market. It's due to 101 reasons which most of us already know. When we are able to ensure all 13 state to operate like Penang, i am pretty confident that our living standards will increase follow suit.

Yeap, except that I'm not talking about very long ago, these prices have increased that much in a short period of time.

In the same time salaries have gone up much less.
If average salaries had gone up 200% on average in the past 5 years nobody would be complaining and this thread would not exist.

---

Added on November 3, 2011, 12:18 pmI'm not talking about so long ago. Of course over time prices slowly go up but the past few years the increase has been much more. A slow increase is sustainable but this type of large increase in short time is not. This has been proven before in other countries.



This post has been edited by prody: Nov 3 2011, 12:18 PM

I have to agree with you on some points, they do valid.
they can't seem to catch up to being minimumly comfortable with their lives indeed some ppl do face such situation, they might be slower they might no be at a fast phase but hey i am damn sure that they are feeling contented with what they are doing. If you do not belong to these group of people i believe you would not feel them. They are ok to live further from town, i know ppl who are living in Nilai and working in KL. They take life easier they work hard but at the same time they do not get paid well. But does this group of people love making decision? That's another question which you should ask. Only HotSpots in KV which prices had shoot skyhigh. You can still get affordable places in Rawang, Dengkil, Serdang, well Sungai Buloh used to be but not after MRT announcement. So question yourself, why do you want to fight for house prices which you think it's being overpriced? Go for the cheaper ones. you can make your own choice. Don't wait for others to make it for you, don't play the blaming game.

be realistic. for every employer, there is an employee. for every rich person, there is a poor one. for every smart kid out there, there is a dumb one
I believe quite a number of people are realistic and that's why they bought houses in Setia Alam when it was an empty place where double storey were only RM180k. When they bought those houses for their own stay had their ever though of the price would shoot up to RM400k today? What goes around comes around. and you are right as well for every rich person there is a poor one but not to the extend being dumb. If you are dumb pretty much you are not worth to be employed. If you are slow ppl could accept it but if your company is a fast phase moving ahead of others i would recommend you to look for other options. People who are ranting here are just not grateful enough to what the older generation had done for us, they blame the older generation instead of finding a solution and that's exactly what is happening. The moment you blame and start ranting instead of working out a solution for yourself, sorry i just have to say YOU GOTTA DO BETTER AND STOP COMPLAINING.

price of property shot up too fast for people to catch up
Then move on! why do you want to stay in a fast phase environment when you can't catch up? Given me a chance i would like to move on to rural area. I would definitely love to move back to my hometown once i earn enough here. Do you really think i like the hustle and bustle? You have the option to always go back to where you came from. Houses in rural area are still cheap, i can still browse for houses which is RM120k in rural area. I can move back and find a job which pays me RM1.2k +- do some side income sell nasi lemak and pay for the house. If it's your option to choose to live in a City competing with others i would recon you to reconsider your option. House prices are going up for sure driven by X number of factors. Flippers themselves are not the only factor why house prices shooting up.

Please take note, myself aren't a flipper as well. I am just a salary earner who worked 4 years in KV without my own space i had been renting for the past 4 years because i can't afford a place and that doesn't give me ultimatum to PRAY HARD for the prices of housing in KV to fall. Time and tide waits for no one. If you can't stop the price increasing then get one now and stop waiting. At the end of the day it's your option to make.

This post has been edited by kidmad: Nov 3 2011, 12:37 PM

You see the point? This thread has been started since 4/5 years ago? If those were not waiting for crash, they should smile at today. some are really missed the opportunities.

Also those who bought earlier, this might be your rewards of your investments / risk-taking.

To those are still waiting, do your own study and always trust yourself, be confident!

Of course, risk at your own as well.

I agree that 3 years ago when they started the thread prices were still ok. People were scared then because of the US subsprime problem.

However, in my opinion, prices are not ok anymore since last year.

I very much agree with your last statement (in bold).

Value of properties along the Subang Jaya - Skypark - Sungai Buluh corridor may continue to appreciate as the RM 1.5b railway link along the corridor is in the offing. My 2 sen.

It's between the lines, a country is not bankrupt until it has defaulted its payment.

a country cannot be "bankrupt", a country only default their loan and lose credibility on securing new or future loan/bond.
Aka nobody dare to loan you in the near future.

You cannot put a tag on a country as "bankrupt" xyz,
You cannot foreclose a country asset, land.
You cannot put the country into the jail.
You cannot harass the country to pay you back the money once they defaulted.

cherroy, cherroy,

In this century, dont everything cannot la, think differently, it virtually can happen.

Can a nation go bankrupt?

Accept bailout or go bankrupt, France and Germany warn Greece

This post has been edited by kelvinfixx: Nov 3 2011, 03:16 PM

You are not from financial background, you don't understand what is happening in financial world.
Default happening from time to time.
Greece is not the first country to default, nor the last one.

Yes, overspending, pile up of debt will lead to trouble afterwards.

The bankrupt is just a term to use to describe, no country is "bankrupt" one.
Even you called them bankrupt, what is the difference between before bankrupt and after?
The country is still there.

I ask you back.
For individual, yes, you have bankruptcy law to define the individual situation, aka the individual cannot have asset, cannot own an account.
For country, do you have a international law to define country that is bankrupt? None.

Please learn.
The one who fear Greece defaulting is not Greece themselves but France and Germany.

So, you need to know finance to know bankrupt? Then how to say in a word a country is bankrupt?

The country must be there la, or you call US to blast Greece with atom bomb?

None, doesn't mean it is not bankrupt.

Learning, yes Euro is more easily to go bankrupt.

This post has been edited by kelvinfixx: Nov 3 2011, 03:40 PM

Aiya Bangsar ah! Will cost me 6.40 in toll alone to go there for breakfast. guess just have to live with situation in Seri Kembangan

As for economy nobody can say la not even the so called experts in wall street and elsewhere. The fact is that since 2008 the world has entered a watershed situation. Firstly it marked the collapse of the new world financial system, which was very flawed and driven by extreme greed. Secondly globalisation and tech developments has allowed the old world to start regaining their pre colonial positions. now throw in weather and natural disasters into the mix, everybody So many gigantic factors playing out at the same time, so who can predict the outcome. The thing that has got everyone running for cover is the imminent perceived collapse of the global financial system. I say , So the old system is collapsing but the real problem is that nobody has any idea how to replace it or overhaul it, at least in a way agreeable to the world as a whole. In the end as usual the most smartest and powerful will win as usual.

So what has all this got to do with property prices in MY .. well nothing really but then again everything. MY is a small fart country dependent on exports of commodities on the most part and manufactured goods to a lesser extent. So MY can only react to developments on the global stage. What would happen if the EU and consequently the US go into a meltdown? Can Asia and the rest of the world stand on their own? In My case will the banks and Gov have the resources to sustain. How about the ringgit, what value will it have then? Some may say this is extreme case but is it?

When it happened to us in 97/98, the west came in forced the foreclosures except our mamak then maneuvered MY out of it only coz we are such a small fart country. Now same shit happening in west and I c they are trying to do it mamak style. but they are no small fart, but dam huge. Can solve or not, I don think so without a thorough clean out of the system. So far they just keep postponing their day of reckoning.

So with all the crap flying around on the global level, the house u bought at say 400k in 2009 now gone up to say 650 to 700K, but salary didnt move an inch. expensive, yeah sure from your salary point of view, but fair value from the global perspective. but if and when the shit hits the fan, how much your house worth??? U might say this n that, but what currency? will the ringgit have any value? if so what and will you want to part a real asset with some paper??

For those who are insisting that the shit will not hit consider that the US debts currently will take 3 or more generations to payoff and the EU is in a bigger mess. A 97 type asian crisis will hit them in a matter of time, when who knows? Asia is looking better but apart from SG everyone else has transparency issues, especially MY.

I am no economy expert but this is the gist of what I have gathered so far so already sold half of my holdings and settled the loans on the rest. prob is don know where to put the balance especially when the ground we are standing is changing fast. totally F***

Then mean country cannot "bankrupt" loh...
Already learned the first lesson.

None is none. where got mean doesn't mean it is not bankrupt.

The actual situation is defaulting/defaulted.

Mean no one dare to lend you money anymore in the near future.
Country no longer able to payback the money, due to overspending too much.
Then will say to you, sorry I can't pay you back.
End of story. No further or nothing you can do.

Unlikely individual, you have law to sue the individual and use bankruptcy law to foreclose the property he/she owns or whatever valuable asset he/she has.
Country level, none.

Interesting.. so countries are given loans without any collateral?

Loans are given by the world bank right? So where does the world bank get their money?

This post has been edited by TheDoer: Nov 3 2011, 04:13 PM

Can you please use your expertise and tell all the media, and government personal don't simply use the word bankrupt la. No country can bankrupt one la. Simply use the word.

It is not actually no idea to solve it, the problem is solution is so painful, and many don't want to take the medicine.
See how Fed and central banks keep on using QE to pump the economy, despite lack of success of the QE to the real economy.

If globally fall into recession, Malaysia won't spare from it.
RM valuation is about how healthy the Malaysia economy situation is, disregard how global economy is. As currency level is relative one.
You cannot have all currency depreciate together.
You worry about gov budget situation, economy trade surplus/deficit etc factor to justify the RM valuation, not about global economy situation.

Shit may happen, no one dispute it, including me, if debt crisis is not solved, but it is not the end of the world.
We had experience how deep shit was during 1997, yet still recover from there.

US is a unique situation, you cannot apply 1997 type of crisis into them.
1997, Asean/Asian country borrow too much money particularly in the form of USD and spent it.
Borrowing due time, no money (USD) can be used to repay back, as USD is not your native currency, nor you have control or can print it.

USD can be printed by US.

+1, where is debtismoney? He will come in say we will fall back into using GOLD BARS! haha

If said default, people don't scare.
If said bankrupt, people scare to death.

Just like parent scare the kids, if you lazy, you will become a beggar or whatever "bad" when grow up time.

Although the bankrupt term is wrong, but it is good word to use to scare people as many couldn't understand one, including some media, reporters, but we must understand the context of the word use.

This post has been edited by antal: Nov 3 2011, 04:49 PM

Refer

http://www.jonathan-quek.com/?p=281

http://money.msn.com/mutual-fund/article.a...05-8916276ce13b

http://gbri.ca/modules/smartsection/item.php?itemid=27

http://www.totalbankruptcy.com/blog/what-h...-goes-bankrupt/