If a person is over 3 months behind loan repayment is in financial crisis.

Nope, is that person's fault on mismanagement of his budget, not crisis.

which standard is that?

by that definition, 97 was not a crisis, sub-prime was not a crisis.

even world war 2 was also not a crisis...

only on point 1 alone there will NEVER be a crisis, as the government can print out unlimited money - the people will die, but federal government never will be bankrupt - see zimbabwe

Well, even with current situation, Petronas maintaining at 0 retrenchment, got salary cut? Also never.
War maybe can say is a crisis, but not current condition, is more on man made speculations.

We all know it happen every 10 years or so and its not exclusively "Malaysian Economy" but the world. The only reason Malaysia could survive it because of BNM preemptive measure to curb future NPL. Just the impact are not felt much due to the measures.

2007-2008 nothing happen what?
So is nothing. There's only something when CEO have no salary.

I wonder why people are worry their house will be damaged if they rent it out. There are plenty of decent famillies, expatriates tthat make a good tenant. You just need to source and choose who you are comfortable to rent to.

Mys benefited little from u.s housing boom, hence subsequent fallout from u.s subprime crisis was minimum.

In most companies and organization, senior management are the last people to suffer any downsizing.

I will only accept a "crisis" as crisis when the employees need to eat grass for lunch, having party in streets or travel to outstation for meeting using bicycle.

By your definition, crisis never occurred before and never will.

It never happen before and never will.
Don't make personal mismanagement and call it as crisis.

economists everywhere disagree

since you do not want to sell your properties or rent out at all (which does not make any sense)

(1) you should clear your personal loan.
(2) Have other sources of income: invest in reits, quarterly payouts OR
(3) invest in businesses. 50k is not much but i think u can jv with people OR
(4) www.clickbank.com Dont know if it's useful anymore but can try lo

Good luck. But follow majority's advice. Sell first house if possible.

Yeah, as economist are paid to cheat people
You want them to slap them self and lost their rice bowl meh

I guess you must be young...or not
economic down turn is a cycle.. these down turn will flush people with alot of exposure..
then comes in the real smart rich and powerful.. they will buy real-cheap bankrupts properties, business, etc..
gain more wealth and control over nations economy.. its like a year end discount...
they counting on people to get bankrupt so that they can buy your goods at dirt cheap..
the government will try their best not to let many national business bought over cheaply by outsiders.. they will mobilize khazanah...
2007-2008 there was an economic down turn.. but malaysia wasnt hit that much because BNM managed the potential "Non Performing Loan" by tighten up loans etc.
Lesson learnt from 1997-1998..
Even now you will notice, its harder to get loans... because they are preparing for the next down turn cycle..

This post has been edited by Sham903n: Dec 8 2014, 11:16 PM

Let's see, I started work in 1997 when my mother lost her job. More on we are poor that time.
In 2008, I see nothing also, and I even get better bonus if were comparing to 2005-2007.
If you are not greedy, nothing will happen, if you are greedy and trying to find fast money, then be prepare for your mismanagement.
Do the right thing at the right place.

supersound is an unker already

Long gone away from topic.
egocentrism, Narcissism or pride.
Take your pick...

This post has been edited by DirectorLee: Dec 9 2014, 10:04 AM

This thread is crazy. Someone here really enjoys putting others down, maybe it comes with age.

90% is very dangerous liao ..if both house kenot sell and new car then u need to hold ur 50k cash just incase something bad happen ...put in something that u can take out when its needed...