I was not paying attention to the economy when it crashed in the 1998 and 2007 (or there about). Was just focusing on my job.

Appreciate some basic pointers (what happened, learnings, the good and the bad, etc) from the ones who went through them with fingers on the pulse.

Many thanks. Cheerio.

Land is state matter, not necessary need to follow wat Najib said, I think Penang, Selangor and Johore will not implement 1.0 mil threshold

I think they have to follow both. In fact, Penang has impemented this before recent budget announcement. They have 1 mil for condo and 2 mil for landed. So the recent sales did reflect that.

correction: only medini might be exempted.

http://www.thestar.com.my/News/Nation/2013...i-township.aspx

Gosh! my friend has just bought unit from Sunrise early this year. Now she has resigned from her job and hopping that can get good return from this property.....

Penang actually proposing 2 millions cap.

Johor additional 2% stamp duty on foreigners.

Government will not purpose such rule if it wasn't endangering the entire economy, U think u can still flip if the entire country go into what currently happened in Spain ?

I believe Medini has already gained the exemption from the 500k cap for foreign buyers... I remember reading it in The Star... looking for an online source but been unsuccessful

Do u think this is yet another crying wolf story ?

http://www.financialsense.com/contributors...llapse-year-two

Back in 96 no one expect the economy would collapse in 97-98, it was full boom, in fact u need to pay to join koperasi & pay large sum under table line up over night to get a house.

Properties was at full boom, every one thought economy would never slow down, It's thought that Malaysia going to join Hong Kong, Taiwan, Korea & Singapore as 5th Asia Dragon.

One of my relative supplying building material still expanding his business, a year later went bankrupt as over expand & developer cabut with goods never pay, house, car, shop, lorry all confiscated.

One of my bros friend always jokes to us that he bought a invisible condo in the sky, end up paying 35K for nothing abandoned project was aplenty during late 90's.

U r indeed lucky never get a pay cut or cut your staff pay..lol

Didn't u enjoy seeing movie like 2012, Armagadon, Independent Day, White House Down ? ..lol

But I do believe something is cooking, always attack China through Hong Kong remember Soros attacking Hong Kong stock market in late 90's ?

That is y I mentioned about the currency and credit wars in my earlier post. It is game played at higher levels.

Guess she have invested many units.

That article is fairly correct - a lot of asians buy houses the same way people bought gold, believing it to be a good way to store value, even when there's no practical use for it (e.g no tenants, no occupancy) as the price 'will never come down'.

I knew some people who lost plenty of money during 98 crisis. One went bankrupt, and never goes back up until today. He lost his factory, cars, etc. If I am not mistaken, he invested in properties.

The other one actually got billed out by family, as he lost too much money in stock market playing margin in 98. He told me that he wasn't in any mood to work at all during the good time, as he could make hundreds of thousands in days. He was in construction lines. He said on those days, developers never ask about your prices, they just ask when can you start and whether you have manpower.

A friend bought a house at that time for investment, and left vacant for many yrs. Only past few years, she managed to sell the house with price she felt ok.

I dun think Malaysia was affected much in 2008. At least not that I could feel. I think share market got affected more in 2008. I think I could only remember NPL was bad, and bank shares are very cheap. But somehow, nobody dared to buy.

Regardless how bad or good the economic climate is, there is always people going bankrupt, others strike it rich. I believe in individual luck. Of course, during boom time, chances of making it slightly better la..

It's best to buy what, in your opinion?

All I know is that during downturn in 1998 and 2008, the sentiment is so bad that most people don't dare to make moves. Those people who are waiting for the price to go down kept on waiting for even lower price. When they finally decided to buy, the bank don't dare to loan them. Or they lost job because the economy is so bad. Although they have money in the bank saved up to buy properties, but because they lost their jobs, the bullet became their emergency funds. At the end, not many transactions during recession

Whereas those investors who buy during good times, continue to buy during bad times. They manage to pick up many good deals. These investors usually have target price and will make the move when their target price is met.

The lesson is set a target price. When the price meet your target, make your move immediately. If you wait and think the market will get lower and lower and even lower, you will never buy anything at all in the end

Die die must buy something kah?

The general prices of property in malaysia over a long period (for eg. 10 years) has never came down. It is quite a linear upward graph. With the exception of a few individual projects

Dunno. I read so many ppl here say BBB, UUU ! Don't buy got some money where to put huh? Buy shares ok or not this economic climate? You reckon put $ under bantal better izzit?

This post has been edited by TiramisuCoffee: Dec 14 2013, 11:34 PM