malaysia boleh mah
got a geng chow thread want all sellers set RM460psf if not higher
not so fast, u do know malaysians got alot hidden treasures/dragons

the year country goes bankrupt? not so soon, i hope.
seriously, that word is coming out more frequently now, and it's not about greece.

You don't understand what is bankruptcy for country. (There is no such thing "announce bankrupt")
US never will be bankrupt if everyone is using USD.
And country cannot be "bankrupt", they only defaulting the bond/loan only.
Country still there, still operation, just the old debt, cannot be paid (this is what we called default).

If BNM doesn't set rule or tighter rule and need pay slip for credit applicant, we should be more worry.

A property 10 years ago was 200k, do you expect it still to be 200k, when price of goods, and everything else, like oil, copper, has double, quadruple, even hiring foreign labour workers cost already double in these few years?

Household debt is alarming, but as long as there is tighter control on credit given out, a disaster is spared.
We may heading for slowdown, and potential big correction in property, but to say it is heading to collapse and imminent, with current stat and situation, It is a bit overly.

Properties price is escalating too fast, but not up the degree like others in overseas, and somemore, it is more towards urban and strategic and hot location around, not across everywhere.
Go to out-skirt of town, there are still reasonable affordable house, and some more rental not that expensive either.

The one will hit the hardest will be those hot location, high end.

I agree that American owes the world lots of money. However, they are not bankrupt until they default in payment.

In this world no matter how much you owe, as long as you are able to pay before the due date you will be spared from bankruptcy.

Party A might owe bank 10Mil, but he has lots of people standby to pay for him if he gets into trouble.

Party B owes bank 50K but he has no support when he get into trouble.

In the end, party B has to declare bankrupt.

And if party A is able to pull it through and makes money out of later investment, he repays all the debts and still have surplus.

This is applicable in housing loan as well. Back up must always be there. If people trust you and your turnover is big, there is no worries. Same thing with America, people believe that they will always be able to pay.

hmmm....my opinion la huh....

Property price shoot up since two years ago due to correction of property price. Meaning two years ago, the propoerty price is really undervalue. LOL

All people now still thinking it is shooting up too fast, and expecting correction (downwards) will be happening soon. but do you ever think of it is actually correction now because the property price in last few years were undervalued?
so what do you expect next?

how many will bother about the bnm letter request for pay slip..... it can said no one.... bank cannot to anyhting also... they cannot suspend the cc of the owner which still with debt..... letter is just announcement.... pls verify.

Hmmm..how do you know it is overvalued?

I look at the price everyday. It is still affordable for so many properties in town even in KL.

A lot of people actually can afford it. just they too picky.

LOL

p/s: also, do not wait too long, as property price somehow will increase albeit with slower rate. too small now the value of our money.

The term "bankrupt" only give some illustration for non-financial savy public, and many may not understand what default and bankrupt, and the term of bankrupt always scare average joe street out there.
In reality, many countries did default their loan/bond before, this is not something new.

Since when people demanded US to repay all its debt?
Just like you apply for housing loan of 300k when you just earned 5k per month. Will bank is foolish enough to demand you to pay the 300k, and make you bankrupt as a result?

Ask back yourself, you demanded trillion being repaid to you, where do you park the money?
What is the use of trillion cash money?
Trillion of cash money is more dangerous than trillion of US treasuries.
Nobody demanded US repay its borrowing one shoot.
Even somebody demanded it, and no money to repay for it, just print it, problem solved. Money can be printed/created one
Yes, if you see 200k properties that was 2 years ago, now selling 2 million, you concern is understandable.
Err, do we have this kind of property around?
Please enlighten us. 

How about a lot of unreported household income?
There are plenty of hawkers than can earn better than graduate out there.
They may not be included in the stat of household income.

I don't deny property price is stretching and furthermore, but there are people that are rich enough and have decent earning, and with collateral to get a loan out of it to buy the properties.

Why you wanna borrow the loan amount you cannot afford to? if you can borrow 300k, then just borrow 300k lo, why borrow 700k?  buy those property asking for 300k lo.

http://biz.thestar.com.my/news/story.asp?f...51&sec=business

A sign of recession?

then you just don't follow them lo....learn from them la

Who said, US need to repay it?

Just because you cannot afford, they are overvalued? No offence. 

If you are not afford for 700k, you are out of the game, but it doesn't mean others won't able to afford it. 

There may others new generation who are capable in earning power to get a 700k loan.

We cannot look at ourself situation, or just something around us to judge, hey most people cannot afford a 700k loan because most are earning 3-5k. 

I do learn from their bad experiences lo. that's why I tell you this.

my real story,

yesterday nescafe + meehone = RM4.30
today exactly same thing (nes + meehone) = RM3.80

not everyday inflation... sometime is deflation mah....

---

Added on November 3, 2011, 9:48 am
the purpose of merger is to save cost... so vss is in their planned initially... a prefect planned

yes... many "cheap labor" vanancy needed... life will become very competitive now and future....

it's sad to see how one would think about our economy. Ppl who are expecting the economy to collapse. Ppl who are expecting recession and instability within a country. Do you guys really want to be in a situation like the Greek and American? Seriously?

When the economy system collapse, it isn't the flippers who hurt the most, nor the richest in the country, nor he middle class earner. It's those who are bringing home RM800 per month working in a factory. They had been struggling all their life and if the economy would really turn that bad like what some expected, they are the first to suffer.

I would like to illiterate here. The richest would just choose to life modest, the middle class would just choose to tie their appetite and the poor will have to go through hunger and lost of shelter. That is exactly what would happen if it turn bad.

Ppl talk about inflation which jacks the price up. Ppl talk about low wages which they are getting. Guys, have you failed to notice? When a price hike occur, it isn't only inflation we are talking about. We talk about price hike on raw materials. We talk about competitiveness in the market. We talk about luxury life moving forward. Do you have a cell phone in the past? Do you have a computer in the past? Do you have console, gadgets, shopping malls, wide variety of brand for every product, fine dining, cars, and even futuristic houses in the past?

Now days everyone carries a cellphone, most of us who started working would have a car, most of us would be able to purchase a home when we are in our mid 20's or late 20's, most of us have more than enough FOOD to feed ourselves daily. Does inflation really impacted your life that bad?

Some were telling me that they are being paid cheap but have you asked yourself, have you done enough to be paid well? When ppl here are ranting, whining, and bitcxing on how unfair they are being paid, my company is offering 80k - 120k per annum to hire a local Malaysia which has the skill for a certain area of expertise. Unfortunately there is not many Malaysian with the skills and we ended up paying more to get ppl from India, Phillipines, Europe, Middle East and some other from the other region of the globe to work for us. My question to you guys are simple. Why are you not the one my company is looking for?

My take at the end of the day on property market.

The hotspots would remain hotspots, price for properties would most probably stagnant. HOPEFULLY.
The areas which are building up will then be a hotspot in a few years to come, knowing that the population in KV is growing termendously.

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.

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.

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.

Thanks guys learned quite a bit from the recent posts. now got some idea whats happening with the economy.

was wondering why bloomberg and CNBC never used the word bankrupt to describe Greece always say deb default, now I know

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.

http://www.malaysiakini.com/news/180515

GE could be anytime soon before april '12... be prepared....