COz there are so many choices around other than Zest?...

Only fools are never afraid of market downturn....when you lose your job and realise you have no money to pay for food and rent, let alone instalments then you know what afraid means....

Not flippers even live to see the finish line. May I remind you of 1997-98 crisis where so many of these flippers "jump down from building"....

Firstly normal working people do not have 2-3 years of installment reserves for their investment properties. Even in the very, very rare instance, if there is at all, it is highly unlikely to all be in liquid cash (maybe stocks, bonds, etc - other illiquid assets).

Secondly, if flippers have cash-reserve of 2-3 years of installments, then he/she is not a flipper. He/she's an investor. Again there is a difference.

Flippers are those who look to cash-out as soon as possible, to flip the property, hence the word flipper. These people usually have no or not much cash reserve coz they go/flip by volume i.e. 20-30 units at one time.

In all downturn, it's hard to say how much cash reserve you have, etc. Don't forget, once you lose your job, your income stops comming in but outflow remains the same. I mean, you family still needs to eat, kids still need to go tuition, still have to buy pampers, still need to buy milk, etc. Once the unemployment is prolonged to 1 year or so, while rental is not forthcomming (excatly what happened in 1997), many will be sued to brankrupcy and have all their properties auctioned. Again this applies to the normal working people. Not millionaires.

---

Added on December 14, 2011, 2:19 pmBecause someone mentioned there are alot of overseas buyers. Usually (experience tells me) these people are either investors or flippers

This post has been edited by mercury8400: Dec 14 2011, 02:19 PM

I actually believe in "wan hei" or canto for luck. Some people buta-buta right place, right timing become millionaire. Some people with no wan hei no matter work hard, try everthing also cannot suceed. Its always the right place, right time.

Yes. That's right.
It's also very hard to even find one unit with pricing of above RM 400 psqft in iproperty.
Neway there are many who are flipping right now and with the impending economic crisis this year, if you nego hard enough, you can get a big discount.
Cash is King right now.

So is zest infested with pak hitam?