Bro, have you taken any housing loan before? You know on top of your document for verification they will go through your CCRISS records right?

All your bad debts, your credit card info, your credit card limit.. everything would be there. there is no where for you to hide la. Your agent want to falsified? I don't think so he can do that.

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Added on September 29, 2011, 5:14 pmBro i got a Condo in Batu 3 Shah Alam (Puri Ayu). opposite of CSR. Rental there is high now still thinking to rent it out or stay my own. lol. Andalam beside of this condo is building up haha. U1 price already naik to 300k liao leasehold. Anyway i've been scouting for this condo for the past 3 years at the end i really think it's damn strategic, that is the reason why i bought there.

My mistake for the word all time low. haha listen too much to the boy band d la i think that's why.

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Added on September 29, 2011, 5:24 pmJust to add on bro, a "good cash flow" to me is:
i pay my installment credit card debt rm600 per month
i pay my car installment rm600 per month
i pay my housing loan rm1.2k per month
i pay for makan makan everyday rm800 per month
at the list goes on. After deducting all this liability and you still have left. That is only consider a "good cash flow". If after deducting everything and it's 0 that is what we call no cash flow. haha

*Just a tip, if you want to convince the bank Just open a long term FD which can cover donkey years of your house installment. I'm pretty sure you can get the housing loan despite you are on maternity leave. (banks need your latest 3 month payslip which sometimes you might not able to provide)

This post has been edited by kidmad: Sep 29 2011, 05:24 PM

30m ppl. 220k had declared bankrupt lor. i think

why 12? I think they benchmark the entire pop of Malaysia la thats how they come out with debt crisis. The possibility if bankrupt because of home is so much lower compared to cc debt. Car. Personal loan and so on. Btw ptptn is also a debt I think if u have not paid u might have a bad ccriss record.

A vw polo can basically cover 9 years house loan. Main factor why I did not change to a better car.

I do not have personal insurance yet bro, only gotten property to cover myself touch wood if anything happen to me, my gurl and my family would still have something left from me.

This post has been edited by kidmad: Oct 3 2011, 02:16 PM

Haha no worries i have not purchase myself anything yet up to date but going soon. lol I understand the part of having critical illness thus i am moving towards it. I can't be doing everything at 1 go. Property 1st, some insurance to cover here and there. hospitalization and so on were all covered now my only concern if illness. guess need to get the 36 illness coverage for myself.

i have the basic and lifetime insurance already. insurance company is really making hell load of money with all this extra packages.

grats! yeah no point waiting. To be honest. Even if next year it drop by 20% most likely the year after will shoot up again. Raw material prices keep increasing and once our petroleum depleted. Good Luck to all of us.

I don't agree with that. But then this is a wrong section to discuss on this topic, i do hope we do not continue on here. You do not even have enough to feed yourself you go and buy insurance? I'll rather get a place stop renting and paying for others 1st. When everything is being settled down then only i start looking into protection. You what also don't have want to protect what?

Bro i think that's not good enough, the rich ones would not give a damn. Increase in stamp duty 1 or 2%? they just pay upfront whatever their lawyer needs. This would only burden the lower income group and the middle income group. The government should curb the rising/buying of those who are cash load free.

Even with getting ppl to pay 30% deposit for 3rd property i still see people buying without any issue. Geram.

Well that's sad but true man. Can't agree more. Somehow this system really does not work to our favor. Houses are bought by some insiders even before they were open. Ppl are buying even without the need to apply for a bank loan. Haihz. As long as they do not control ppl from buying there is no way the house prices will go down.

Moving forward in order for us to solve our own problem, it's the best that we purchase as early as possible. It's hard to change the current government as it's not within our control the only thing we can do is to capitalize the current situation. Make it being favourable to ourselves and for our next generation.

Yeah not only that, buying power is higher. Cloths, Gadgets, transportation and yada yada. Everything seems cheaper by 2.3 if you are working there. Going into ikea for shopping is like heaven if i am earning dollar to dollar there.

Money is just paper so invest in property la. as simple as that. I seriously do not understand what is your problem...

Only he will invest in Gold.

Again. seriously do you really think you can overthrown a government? raw materials most likely will shoot up due to shortage in MY and yet you were babbling about continuous currency printing in other countries?? Budget 2012 is increasing the borrowing power of the younger gen... What makes you think they would not try to attempt to get their 1st home? I was not as lucky as they were given the chance to get a 100% loan... But if today i were to know of that news, i am definitely going to go for it.

What's happening in Euro and US atm is a fact know by most of us. Does it relate back to the situation here in bolehland? Before replying, sit down, ponder abit and start thinking. Do you really think the Western will just be some sitting ducks and wait for the crisis to happen? Seriously? Property in MY is dirt CHEAP. you can still easily find condo at 250k - 400k. You call that expensive? It's either you are not cut fit for it because you have not earned enough or your just living in your own world trying to compare the properties here to the ones in GB, US, AU.

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Added on October 11, 2011, 11:31 pmSeriously don't make me ask the question to you again. Someone at your level should be discussing on alternative to let our money continue growing instead of pumping all our cash into gold. the Investment corner is the other side of the forum not here. If you wanna keep talking about GOLD, please go there. There is a GOLD Investment corner specifically for this. Please post something constructive, stop taking article, clips and all sorts of funny news from tom d*** and harry. Continuous speculation is those who want the easy way out. What makes you think if the economy crumble you could stand a better chance to those who already establish their empire here in MY?

This post has been edited by kidmad: Oct 11 2011, 11:31 PM

@shaquenator

i think you miss the point here. I am saying it's still dirt CHEAP compared to the mentioned country by the guy. A 3 bedroom apartment in london will easily cost you 1M... Pound.. not RM. I am not the guy who took the comparison mind you.

And i do hope you think straight. Why should i invest in some other ppl's country when i can do the same in my own country? and since when i said that i am rich? In my opinion the properties here are still relatively cheap compared to our neighbours in Singapore which i think if you have a chance you should get your own unit yourself.

Now that the government is giving out 100% loan why not take the opportunity? Again, don't give yourselves 101 reason not to buy and continue renting. If you are staying with your parents then no hurry but if you are still renting? Why not use the money to pay for your own instalment instead of others?

This post has been edited by kidmad: Oct 12 2011, 08:05 PM

At the end of the day you are really contradicting yourselves. Initially all invest in GOLD. Start comparing properties from other countries. Talking about continuous printing of money. What's next? To me you are just giving me 101 reason not to buy a home but you still did not give us any solid argument on why the property price will drop.

Tell us something we do not know, i do wish the property prices will restructure with this i have a better buying power honestly, but base on facts that:
1) Not enough raw material for our so called MEGA Projects
2) Recession in other countries, which most likely lead quite alot of investors to SEA countries.
3) Natural Disaster in other countries, which most likely attract loads of ppl to Malaysia for their retirement age.
4) Knowing that there would be a couple of Huge Giant MNC will be opening operation offices in Malaysia. Even Top Glove would be expending their business and soon they would have mass hiring.
5) The increase of buying power due to gross wages, 3 years back Job & Career Section is debating on 2k as a fresh graduate salary, now all talking about 2.5k and above
6) ... yada yada. I do not wish to elobrate more but this are personal views on the current situation in Malaysia.

Personally i think Malaysia had a bright future ahead, IF we have a better management to our own economy.

This post has been edited by kidmad: Oct 13 2011, 04:56 PM

1) Again, that is overall in Malaysia. How many are contributing to salary tax atm? only 10% of the people, it means the living standard is still FREAKING LOW! So you tell me, the other 90% of the people with such high living cost now days and yet such puny pays, is there anyway they can live without a debt around them?

2) Most of those who went into bankruptcy, it's not due to Home Loan repayment. The percentage had spoken, those with personal loan, credit card, hire purchase and business loan are the contributing factor.

*You should choose to fix the problem in the first place. Bringing down the property prices will still leave us in denial.

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Added on October 17, 2011, 10:12 amGREAT, in this case we can join the others who go bankrupt! oh wait i forgotten to tell you, i am only paying 1/5 of my current nett income to serve my home loan repayment. I guess it's not a problem for me if it goes up to 12%. But what happen if i lose my job? Well.. if it really happen most likely you would lose yours as well. Let's plan together to curb this issue.

"!!!Wait... my job opportunity to wash the toilet and clean the rubbish had been taken by the foreign workers... God Damn!"

*This is one exact example if we do not do the right thing. Now that foreign workers are filling all the spot, i am expecting the employment rate to go down as well for the locals. disappointed with the government management.

Face the fact bro, everyone needs to plan for themselves. If you fail to plan you plan to fail. As simple as that. Those who are doing good in such situation what makes you think that you would be better than them when time comes? I believe most of us who are capable had already planned for the worst to make sure if there is anything happen, i would still have a backup plan. Question is.. Do you have one?

Paper money value is dropping everyday, your RM1 might be RM0.10 next day you know. By the time with 12% interest most likely my net income will be much higher compared to what i have now.

*No one is that dumb, % of interest will increase gradually if it really happen like what you've said, the government is asking for trouble. from 6.5 >>> 12??? well they are asking for RIOTS in whole nation if they do so.
*Those who are renting will not have a place to rent, those who are still serving their loan most likely will just bite on to 1 property and work their ass off in repayment.

This post has been edited by kidmad: Oct 17 2011, 10:12 AM

Another add on, while some of us are speculating the prices will go down further have you failed to notice that most of us who are posting in property section is still looking for a property, nearly all the new development in KV had been post up in lyn and i can still see loads of ppl buying.

This post has been edited by kidmad: Oct 17 2011, 12:13 PM

How come so many of us are speculating that the flippers are definitely taking a home loan? haha

There are a couple of person whom i know of who are buying house with cash under other ppl's name? I do believe there are quite a number of people who whom are cash load free.

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Added on October 19, 2011, 10:39 amP.S: the housing which i am staying now in setia alam, there is so many empty slots!!! Owners do not even want to rent it out, most of them just put there and waiting for the new shopping mall completion. If they do not have the holding power i guess no one would ever want to do that.

This post has been edited by kidmad: Oct 19 2011, 10:39 AM

You are wrong, Malaysia economy is controlled by a handful of people. Let's talk about Land itself and not more at this point. Myself i am borrowing but those whom i know from my parents generation... Most of them are cash load free. Maybe the community which i am in which gives me a different point of view i guess.

.... I'm speechless with the way you calculated. haha i really gotta LOL hard. Where da hell you find 160% profit? hahaha Pay the bank back the money la. and now you have to fork up additional 10% if you are borrowing from the bank.