GEN-Y, WILL YOU BUY & INVEST PROPERTY IN 2014?

Many GenY in my office are looking to buy their first home. They say wait next year. How about you? Are you planning to buy in 2014?

I will buy one more this year....

I think It's Harder to buy Property Nowadays with The crazy petrol price. Most Gen Y I know come out of school with PTPTN loan and they have to pay like a bomb to the government. They have to go out station to work which includes CRAZY petrol and house rental. Sorry if I offend anybody but it's a true story... It's not a matter if the "would" but it's a matter that they can or cannot.

Fresh graduate could hardly own properties on hotspot areas.
It really depends on the location they are looking at.
Evenso, if it is a good buy, a lot will be snatched by potential flippers/ rich tycoons who wants to get for investment.
Therefore, not many younger gen y is able to get a property.
JB area will be snatched by Singaporean
KL / Selangor hotspots will be snatched by rich investors/flippers immediately.

It is not a matter of whether would or not, its matter of can or cannot like stephanielum said

However, I might consider getting if my recent one can be rented out soon. Then next year will consider another one.

Nice so you're into property investment too? I really hope my son wants to know a bit about investment. Haha hope see don't see this post but fail to brain wash him. I think he's kinda too spoiled sometimes.

Parents pay down payment
Children commence instalment

soon there will be 2 generations, not gen x and gen y but:

1) generation renters (tenant)
2) generation home owners (landlord)

although parents pay for down payments,children also will very pain for the commence instalment.

if got opportunity sure want to buy, but ya, very difficult due to lack of funds and strong competition.

I regretted not entering 2 years ago when i just started working.
That time i was not influenced yet and kinda hard for me to manage my work in SG that time so didnt really think of property.
However, this year i started to look around. Kinda frustrated with jb property as the hype is way beyond craziness, i invested back in my hometown last week. Double storey intermediate terrace waiting for CF.

Once that is rented out, I will be looking for another property probably next year. Lol... Need to keep my bullet for next purchase after i change job mid next year

lol

Well, true, most cases parents pay down payment for the kid to get a property.
But, I guess not all would want that. Same case for me.

I didn't want any financial assistance from my family. Insisting on getting it on my own. Even if it ain't easy, it makes us appreciate things better

I think the most difficult part is down payment, installment is difficult at first but still manageable with proper planning and usage of salary.

so fresh graduates and gen x or y can only aim new launch properties but those good ones very fast finish.

I agree with the regrets but for some people, but if you're really inside the property investment game you'll know how you can make money in down or up market just like robert kiyosaki said. It's not there's no good deals out there it's just most people haven't look though enough deals and made early conclusion.

how much the down payment for your property?

robert kiyosaki himself is not doing so well now.

how many fresh graduates can actually have the fund to play the property investment game?

Well of course there're some set back I my self lost around 1.5 million for making some ego mistakes but I learn my lesson bounce back and made 3 times as much net worth in a half the time I spent.

yes, I agreed. Set back is a set up for a come back.

I hope to invest but i don't have enough capital and don't know how to locate good property to buy for myself.

10% downpayment. lucky the house is rm328k only.
But price is ricing rapidly. I missed the early boat for my hometown.
So i am just following the tide now.
Earlier on, semi d is only 350k or so end of last year
Now, it is 550k-600k.
I cant believe how much the price has inflated less than a year in my hometown.
Double storey terrace from same development was launched at around 260-2800k end of last year. now its 428k last week i asked.

Paid down payment 10%, next will be the legal fees etc maybe 8-10k. Then renovation probably 40-50k.
Lucky i kept enough for them within this 2 years of working

Gen Y they have been to many places like Phuket, bali, taiwan, seoul, krabi, shanghai, and many more.
smart phones are usually the latest. at least iphone 4 above.
vios and city are entry level.
Dinner at chili, tgi consider casual.
at least 50% salary goes to credit card payment.
How to buy property??
btw. im gen y. 25 this year

This post has been edited by elfness: Sep 10 2013, 05:01 PM

I want to hear from Gen Y themselves... not so many Gen X here trying to stress their points.

I belong to Gen Y (still less than 26 years old). So many people around my age have just started to buy a car or some paying off the car loan.

They also want to buy a home and settle down. Should they wait in 2014?

This post has been edited by accetera: Sep 10 2013, 04:58 PM

Well, to start invest for the first time, aims for cheaper house and for the first down payment, you will have to save money by your own.

Lily, u can buy a house and rent out the remaining room, and use the money to pay for mortgage.

I'm 26 too. So i guess i am in this too.
For me, i think i will source for another property 2014 if it seems ok.
Location depending. Maybe not in oversupply places such as JB, Cyberjaya etc coz gen y if investing, then probably we need a place for easy rental

Maybe I'm an investing fanatic (especially when it comes to property investment) but, "investment in knowledge pays the best interest" -Benjamin Franklin
ahahaha look for some financial books will help you manage money by many folds

Yes, then you can pay less for your mortgages or don't even pay for a single cent.

I bought my first property when i was 23.
Lagoon Perdana 128k.
Monthly installment rm610.
Many ppl said its a bad bad investment.
the unit is rented out at rm1000 now.
market price now might not very appreciate very much. around 150k. but still appreciated 17%
you can do it also

i m 25, owning one house at KL area last year.
monthly installment for 700 but rented for RM850.
planning to get another one by end of this year.
doesn't matter the price will rise or decrease.
property is just good either for investment or personal living.

wow....1K per month not bad leh.... I start invest in property last year, hope that I can buy more property for investment.

i wonder what is the maximum price psft, do you think can cope for another 3 yrs ahead !

Gen Y here, just bought a place last week using my savings from my salary.

DIBS, so I think the pain will only kick in after I start paying the installments.

Can do a bit of maths
If 10% d/p too little, increase to a % where monthly instalment is comfortable...

But as i said . most of Yuppies wont even look at those cheap properties.
they mostly aiming for those above half a mil property.
and those fancy location like damansara, subang or PJ.

bought my 1st studio apartment in SJ 2 yrs ago.
instalment equals rent so far:sweat:

or you can try to invest in shop lot? the probability to rent out shop lot is much higher than houses.

Investing in shop lot property doesn't have to be in big city as long as the location is strategic.

you will again REGRET.. regret for not getting financial assistance from your family. while doing thing on your own is good for ur self confident, doing it for property acquisition will only mean u r losing another years and another opportunity.

Agree some shop lots do better than the those in cities in terms of rental and mortgage turn over, they would rent it longer if the price is reasonable and you don't have to worry about renovation most of the time.

tis is to poke the DDD CAMPERS ONLY the bubble will explode soon - NOT



This is Not Your Father’s Emerging Markets Crisis

http://www.thefinancialist.com/this-is-not...markets-crisis/

BY: ASHLEY KINDERGAN

PUBLISHED: SEPTEMBER 4, 2013

It does seem like it’s déjà vu all over again. As emerging market governments burn through their foreign exchange reserves in an effort to support local currencies in the midst of massive capital outflows, the headlines are eerily reminiscent of the 1990s or early 2000s. Say, for example, in 1991, when India had to fly its entire gold reserve pile to London as collateral for a loan. Or in 2001, when a debt crisis, capital flight and a bank run forced Argentina to freeze domestic bank accounts and default on its international debt. But is today’s news just a replay of crises past? Not in the slightest, says Robert Parker, a senior adviser to Credit Suisse and a member of the bank’s Investment Committee.

It’s not that the players are different. India is once again grabbing the lion’s share of nervous headlines today due the fast-falling rupee, its large budget and current account deficits, high inflation and relatively anemic growth. And Brazil, Mexico, Indonesia and Thailand are all experiencing currency pressure that does seem shockingly familiar. But that’s where the similarities end. One big difference: most of the larger emerging market economics have made significant structural adjustments that leave them much better able to deal with today’s capital outflows than they were in previous crises. “The circumstances are very different,” Parker said. “The key question is, ‘Are we going to have, as we had in the 1990s, a range of sovereign debt defaults?’ And the answer to that is, no.”

Last time around, Parker explained, many of the affected countries shared three characteristics: large current account deficits, large amounts of debt denominated in foreign currency and fixed exchange rates. The combination proved to be fatal, as currencies pegged to the dollar became artificially expensive, making it difficult to meet exchange requests, which in turn hastened the depletion of foreign exchange reserves. Large current account deficits and external debt denominated in foreign currencies exacerbated things by forcing even more money out of those countries to purchase goods and make loan payments.

The current crisis began in May, when the Federal Reserve first said it could begin slowing down the asset purchases it had been using to pump money into the U.S. economy and keep interest rates low. Investors who had plowed money into bonds, equities and other investments in Asia and South America in search of higher returns began withdrawing their capital as a result.

Here’s what’s different this time around: For one, in contrast to the slow, decade-long wave of troubles 20 years ago, the current crisis is hitting economies all over the world at about the same time. Two, most economies that had fixed-exchange rates in the 90s and early 2000s have since allowed their currencies to float freely, with the notable exceptions of Venezuela and China. In the Asian financial crisis, the appreciation of the dollar made Asian currencies pegged to it less competitive. Now, Parker noted, emerging market currencies have simply become less valuable – an opportunity for exporters. “One pressure valve which has been obviously pushed very hard indeed in recent months has been the devaluation of currencies – and frankly, those devaluations have been very positive,” he said. “Although particularly for commodity importers like India, weaker currencies are going to result in higher inflation, the fact of the matter is, these countries now have very competitive currencies.”

Many emerging market economies have also built up much larger stockpiles of foreign exchange reserves than previously. As Parker put it, “Even poor old India’s got more than $250 billion.” India’s Prime Minister Manmohan Singh has been stressing to the press over the last week that India’s reserves of $280 billion could cover seven months of imports this time around, as opposed to three weeks at the low point of the 1991 crisis. China, of course, has about $3.4 trillion dollars in reserves, while Russia, which defaulted on its debt and devalued the ruble in 1998, has around $600 billion. “Their firepower to defend their economies and restructure their economies is totally different from the 90s,” Parker said.



Asian national banks were borrowing large sums in order to finance public-private infrastructure investments at home. With the notable exceptions of Turkey, South Africa and India, the last of which has a current account deficit equivalent to nearly 5 percent of GDP, many emerging market countries “are either in surplus, like in Russia or China, or the current account deficits are very small, as in Brazil and most of Asia,” Parker said. Similarly, he added, the risk of a sovereign debt crisis is nowhere near as prevalent now as it was then, since many emerging market governments carry most of their debt in domestic currency, rather than in foreign currency.

Finally, Parker said, investors simply aren’t speculating in the emerging markets to the extent they were in the 1990s and early 2000s. “Whereas investors back in the 90s had very heavy exposures, many of which were short-term speculative exposures, to emerging markets, today that certainly is not the case,” Parker said. “We don’t have that speculative overhang.”

So, what’s going to happen next? Several countries such as Brazil and Indonesia have already raised interest rates in a bid to defend their currencies, and more central banks are likely to introduce small interest rate hikes. And at some point – perhaps as soon as late October – investors are going to start realizing that there are some great buying opportunities in those economies out of which they only recently bailed. “I think investors will realize that we’re not in a situation like the 90s, and we could see a number of policy actions to encourage foreign investment in certain countries,” Parker said. “So, we could get into a situation where investors move back into emerging markets in October and pick up very cheap valuations.”

Parker said Credit Suisse itself will likely remain cautious in September, a month laced with tripwires for financial markets. The ongoing crisis in Syria, the likely beginning of a fight in the U.S. Congress over raising the federal debt limit and the Sept. 22 German elections are all major events that the markets are watching nervously. Perhaps the biggest September event is the Federal Open Market Committee meeting on September 17-18, which will be closely watched for an asset-purchase tapering announcement. But Parker said that the fact that market already knows the central bank will begin tapering at some point means that the tea leaf readers are only seeking an answer to a less profound first-order derivative question—which is what the actual rate of tapering will be. Come October, Parker said, he would anticipate that Credit Suisse might begin looking at opportunities in healthier emerging market economies, including China, South Korea, Taiwan and Singapore.

Some of the biggest emerging market worry zones are in India, Indonesia, Turkey and South Africa, Parker said. Indonesia and India both suffer from high inflation, loose monetary policy and low interest rates, Credit Suisse’s currency strategists have noted, though Indonesia did raise interest rates last week. Turkey’s central bank, on the other hand, has ruled out rate hikes to try to defend the lira, which has lost 10 percent of its value since May. Credit Suisse’s currency strategists see the resistance to rate hikes as a reluctance to slow down growth, especially before elections next year. But the strategists also cautioned that Turkey only has $40 billion in net foreign exchange reserves, enough to cover just two months of imports and perhaps not enough to adequately defend the currency. South Africa, meanwhile, a country dominated by the mining industry, is experiencing labor unrest, high inflation and unemployment of 26 percent.



In the end, much has changed since the 1990s – and mostly for the better. Many emerging market economies are much better prepared for external shocks than they were then, and only a few remain extremely vulnerable. As fall approaches, the key for investors is to know one from the other and avoid thinking of all fast-growing economies as either good bets or bad ones. The devil lies not in a country’s emerging market status, but in the details of its individual economy.

- Gen Y thinks Damansara, Bangsar, Mont'Kiara, Subang Jaya as most desirable locations for home.

- Gen Y normally update their facebook status when buying a new property or when house warming at their new home.

- Gen Y thinks work is very mobile today, hence you don't need to buy a home if you cannot even afford lifestyle, i.e. cinema, friend-parties, AirAsia, We Love Asia, etc.

- Gen Y believes that property will bubble one day because the structural affairs in Malaysia is too corrupted to allow sustainability.

- Gen Y believes their parents could have helped them to buy first property to give them a headstart.

- Gen Y will do all they can to date as many boy or girl friends.

- Gen Y do invest alot in lifestyle propositions judging from how they makedo their hair.

This post has been edited by accetera: Sep 10 2013, 05:25 PM

but shop lot is quite expansive to invest..

Errr... I didnt regret. Lol... bought my first property, getting my second one next year if possible.
Now waiting to find next job mid next year then get another one.
My parents are tied up a little coz they r into buying lands. So i dun wan kacau. Lol

Good for not being a boomerang generation proud of you!

Be smart on your funding, do you know you can but properties without money down or banks loans ahaha. just a new skills i've learn recently quite interesting

Lol. U and me are gen y. Terima aje la. Hahaha

What new skills is that?hehe

the price of a house in city actually has no difference with a shop lot with strategic place but not in the city. We want our property to have higher chances to rent it. If you just started to invest in property and with not much financial backup, how would u ensure yourself to get half million mortgages from banks?

U can learn investment skills through the seminar or read book about property.

Aiseii....dontla sapu everything, save some for me...or at least save some for those DDD campers who are still waiting...and keep on waiting.

Lolz

What is Generation X & Y?

Born after 198x or 199x is consider Gen Y?

Gen-Y is the generation of people born during the 1980s and early 1990s, am I right?

In Managing Human Capital, Gen-Y should be born during the 1980s and early 1990s

This post has been edited by abgkik: Sep 10 2013, 05:46 PM

Well I think the price is going to inflate more since the crazy oil price increase by 10%. Can you imagine inflation 10% on it's way?

True true the rich will get richer with hedge funds and properties while others have to be fired or get their house robbed by bank mortgage. While other rich people can just wal mart thier houses.

yeah. correct.

hello taikor skalian, im gen Y (going 25 soon).. just bought a subsale house @700k+ (for own stay purpose) with my gf using our own money... if got sufficient cash in end of this year or 2014, will get another one for investment purpose... heee....

i dont have enough money to sapu everything la bro. i sikit2 cari makan only

I myslef is also a gen y @ 26. I also regretted that i only manage to buy a house this late, should have bought when i started work 2 years ago. Anyway, i manage to afford 1 at the moment together with my partner.

Starting I believe the gen y should start to plan and get a property for their own stay first before investing. Investment can come later when u have the extra cash.

Try to get a property within ur budget as in able to afford the monthly installment, and dont be to choosy on location.

Of course, it would be good if your parents can help with the downpayment which a lot of the gen y are having problems with.

This post has been edited by Freakystein: Sep 10 2013, 05:54 PM

Sorry fren not a good idea... For me. I would buy a cheap 1 first and use the rest to invest. 5 years later you'll have no problem buying million dollar home.

good for u if you started already. but not good for those who r yet to start.

I started quite late. Could easily gotten a house 1 year plus ago.
However, i was brainwashed by my ex saying it is expensive and blablabla
Sp Setia project was around 400k that time. Currently as we speak, i think the property is 600k or so.
Easily 200k on paper. or at least 100k +

k la im genY too 26 this year. but last time i pakai potong iswara 2nd hand only when i own my 1st prop in puchong, talak pakai vios or city, talak cinema, boh $ travel, dated many ahmois? I hope so

its ok la... it is not easy to find a landed that both of us also like... diff ppl gt diff goals... 5 years later perhaps my house would appreciate till a million... or 5 years later i will be getting another million dollar home...

how u define cheap? dont think got cheap property now... too bad i was born alil late and wouldnt be able to grab a cheap property..

Actually, Gen-Y spending is keeping the economy humming and the banks happy with all the credit card debt.

Mind to share where is your 700k landed prop? Cos it's kinda hard to find nice landed prop that is reasonable these day.

yes, really, that's the truth - our economy is humming thanks to all the debt, gen x-y-z, all of them!

Save some cash and wait for dead chicken

Hoping to snap up a distressed property (corner unit hopefully) sometime end of 2014.

definition of Gen-Y

hi. share with u!
13 years ago. my parent prepare 20k for me just for down payment , this we call "property fund".
bcox this fund. i "buy" condo , when i bought it i only want to buy , still dont know invest.
after collect the key, rent it out. i just can feel it, this we call "Invest".
i m lucky , cox my parent give me a change to open my mind. cox, that time i only 21 years only. no money to invest and dont know what is invest.

so, now . i know what is "invest" already. nowadays, i think parent should support their child to pay the downpayment (if parent financial is ok) and ask them take the responsible. this is "education" also.

thx !

If this is what gen-y is, i am ashamed.

at Setia Alam...

Agree with u, its kinda hard to find... Im not very choosy on location coz i know my budget doesnt allowed me to buy landed at nice locations like PJ/DPC... (for sure not referring to those 10/20years old landed)

Choose this location as I found it quite suitable for own stay, although alot ppl said that this area is overpriced... What to do, I was born so late...

I'm 27, part of Gen Y...and bought my two props so far with my own cash. So pls don't generalize.

I think he/she no longer Gen Y.

I think what she meant was, if you are looking for long term, you should have bought something cheaper so that you have more funds to be used towards investment. Just bear in mind, in 5 years time, if your unit goes up to RM1 mil, it is only on paper value. And even if you sell, the same size property will also be be RM1 mil. First home isn't considered investment in my opinion. As long as it doesn't generate you income, it's not an asset. Because if you sell this asset, you have no where else to go that you can call your own.

So, the term investment is very loosely used these days. Buying a first home to stay isn't an investment. It's an expense.

There's nothing to be ashamed of getting parents help. I for one did not have the luxury and had to struggle to buy a property and wished that I could get some help when times are bad. Getting help from your family members does not make you a lesser person.

Oh...setia alam is quite a nice township actually....

Why do I have a feeling of Gen-Y = bad quality? Are we really that bad or people are generalizing.

In terms of property investment, I did my own study; called various agents/developers; drafted out my own budget; cut the urge for "wants"; paid my own down-payment; and in the future, prepared to pay my instalment and the cycle starts all over again for a 2nd property and so forth.

I do not think Gen-Y is of any inferior (or superior) than any other generations.

Well no parents help me to buy any properties..thats for sure.

But when i have kids, well i cant say that i wont help them to get properties, i will help them if i can.

This post has been edited by AmayaBumibuyer: Sep 10 2013, 07:28 PM

same here. but i think our children should not ask us to help as if we owe them the help. if we wanna give help, then it is ok.

This post has been edited by AMINT: Sep 10 2013, 07:33 PM

This is very true. People needs to be humble in tough times. There is no shame in receiving help from people who loves you, as long as you value that love that is given and not take it for granted.

i was just saying bro if that is gen-y then i am ashamed. i had no help from my parents when i bought my houses. not even a single cent.

lesser gals input?

I'm a Gen Y. My smart phone is already 3 years old. Most of the time eat at home since it is free (paid by parents). Only go on vacation if paid by parents, otherwise then no vacation. No clubbing for me. Driving a myvi only.

Not so exciting life now but I'm glad to be able to buy a property with my bf. I'm glad that I started saving up since young. Otherwise, not enough money for down payment.

Hard to buy a property nowadays but still possible. But life kinda sucks. Hopefully this will pay off in the future and start enjoying life.

why so ashamed? it always good to have family support.

Ya lor. As if gen y has no legs to stand on they own. But i know thats not true

share name to buy house with bf (not husband) is not a wise decision too

I am not Gen-Y. But I will support my son in certain extend.
For property purchase. If he not afford to buy, I will rent my property to him instead

So kind of you. Pay together with bf. i wish i got gf like u. Hehe....not sure this is a very stupid choice to do that. But certainly not a wise choice. Wish u have a happy ending with your bf.

Always remember between gf and bf or husband and wife. There is no so call unconditional love. That's why u both need to sign married agreement or set a limit between bf/gf. Only your future child is unconditional love. No matter how is your child.

This post has been edited by HELLO HELLO: Sep 10 2013, 09:57 PM

I m Gen X
I believe Gen X n Y interested to buy property but end of d day subjecanti individual loan approval, DSR n commitment
nowadays bank vry strict if u zero commitment or high commitment Oso tough go thru

This post has been edited by rainman19: Sep 10 2013, 09:55 PM

This thread has become a venue of feeling proud to own properties. While there is nothing wrong with that, a lot thinks they own properties and think they can get rich in future. While it is true in some form, it also means there is a lack of investment knowledge or education that forms the backbone for investing. At this time of economy, almost everyone believes they should buy properties to get rich. The real problem is Gen-Y. How many Gen-Y knows about Asian Financial Crisis in 1997 ? At that time, they were still kids. They know nothing what their parents went through. Global financial crisis in 2008 has not affected properties in Malaysia and Gen-Y think they have seen enough. My advise is do a lot of research before buying a property and always think of risk and back-up plan when worse scenario happen. In short, be prepared.
Btw, I am also Gen-Y

Well, I know I can trust him after being with him for like so many years after all we want to have our own house when we get married. Anyway, he paid more than me so he should be more worried. LOL

The problem is nobody know where n what problem will lead to the next crisis. Even expert in economy also searching for it.. Same problem of economic crisis won't hit twice. Mean george soro trick can't happen twice... Yes.. now only thing we can do is be prepare anything come.

Hi All,

Well, noted that our bro accetera always created such thread to warm up the Property talk session.

Lets say mine, I'm Gen Y too. I'm from extremely poor family and of course is one of PTPTN borrower. Currently I'm staying at KL but I'm not West Malaysian.

As some of you, I've learnt to be independent and now I own => X properties before 30's..No one teach & guide me on property nor Real Estate and all are done by me...I've go through a lot of things for example, sometime I even have inspected the unit (defect) alone upon VP, learnt how to deal with subsales alone (Solo) and etc...All have to independent and no one can help me here...

I've started my 1st job with the basic merely RM1k..How about My life?Now, I always travel to other counties such like Korea, Taiwan, Hong Kong, Beijing, Macau, Bangkok and going to Australia & HK again..

Hence, need not complaint if your parents didnt sponsor you/give you downpayments and etc, as I'm part of you..Short words, to create the Miracle & Future by yourself here... Cheers

This post has been edited by cutealex: Sep 10 2013, 10:54 PM

I don't understand why the rest can't read your sarcasm statement.

I beg to differ.

Both husband & wife must have unconditional love, and it should be unconditional love; if the relationship doesn't have unconditional love to begin with, the relationship will not last long; how can a relationship that stand a chance to break, gives your children unconditional love?

He he. Of coz we all wish to have unconditional love. But reality not all are So lucky. Always come with terms and conditions when love come from both ways...lol...That's why I saw most of them got backup plan for their own. When shit happen, Some are deeply regret without any plan they tot they can trust the other half. Love yourself first. Love your family more especially your mom and dad. They are the person that always give 1 way love to u even you don't love them or even hate them. In future You will treat your kid same way as your mom and dad. That's all I can said. That's is no right or wrong. Good luck.

This post has been edited by HELLO HELLO: Sep 10 2013, 11:20 PM