It just haven't happen in Malaysia before, but it doesn't mean it will never happen, especially in a crisis.
After all, our KLSE have denied and limit foreign investors from selling off Malaysian stocks of their holding back in '97, and given the political and economic climate these years I would say it is actually likely, I wouldn't put too much faith on our system.
Back in those days, property for regular folks rarely reach the figure of a million, now even a condo can cost a few millions.
And you have read the post earlier, many properties didn't get any bid after a few round of lelong even, this is unheard of in the past; the viral video about the 2 million condo if value drop under a million, the bank will of course panic will ask for top up as it lost more than half of its value, and we are starting to see some property lost more than half of it's value in lelong market already, so it's a reality.

Don't get me wrong, I love my country, but I have to protect my money and it's always a good thing to be wise and careful.
If you read first page of this topic, how many people say such things are impossible, now it had been a reality/

This post has been edited by Angelic Layer: Apr 15 2019, 01:49 PM

If the loan had been issued as a part of tranche on the market?
It happens in the last recession. the infamous CDO.

Wah, 6-7 units how to handle?
6 units 250k losses at minimum each, more than 1.5 million.
Confirm bankruptcy already.

There is no automatic discharge from bankruptcy in Malaysia, say you bankrupt for 15-20 years, 600-700k, something like 2000 per month worth to do so?

This post has been edited by Angelic Layer: Apr 25 2019, 07:59 PM

When people willing to go bankrupt 1.5 million for a mere 5-600k, this country have no future already.

Yes, no income, people's life are getting deteriorating, house, car, education, debt, and even health, future and savings as well as personal relationship is ebbing away as well.

It is dangerous to say that, it is usually the infrastructure, capitalization of the company in this country is inadequate, say our scale is too small to compete with globalization.
Once a person loses his job over a certain age, say in his 40's he is not likely to be employable anymore.
A generation lost.

You can discharge 5 years after and you submit an application to discharge if you satisfied:
- achieves the target contribution for their debts
- declare their liabilities to Malaysia Department of Insolvency.

If target contribution not met, or there are others bantah, you bankrupt forever.

What scary is not about the excess supply, but the subsequent lost decades of stagnancy and struggle.
A quick death and subsequent recovery is better than a slow one.

I understand that many buildings are aging and crumbling for the next Tokyo Olympics as they are build in the 80's, now almost 2-3 decades since.

Americans did for the quick end of Freddie Mac and Fannie Mae, hence quick recovery of the last depression despite the massive scope.
While Greece and Spain is still lingering.

No matter how much amount, like Warren Buffet said, "Don't lose money."
If you have to lose money, then cut lost fast.

Yes, a terrible mistake.
Where is IBM now, or the younger generation would ask what is "IBM" even.

Nonetheless, that didn't make him an unsuccessful investor as one of the richest man.
He had a few mistakes, like his teacher said never buy airline stocks, but he didn't follow that advise and lost money on that 3 or 4 times.

Of course, in order to have money, you have to make them.
Money is the most reliable proof, not like some property flipping speaker who claims that they made multi millions.

Having foreigner build and building capacity is one thing, back then I was researching on IBS, many of the materials do not pass the fire test by Bomba, poly styrene, poly ethelene dan poly properlene all cannot pass for high rise building, unless you are talking about landed property where standard is lower.

Property is worth the price when it has a buyer, no buyer at 482k, 482k also not worth.

I would say most of the precast concrete or concrete based would pass, but the panel based ones more often than not wouldn't pass, even they show SIRIM and other certifications.

Look at the map, almost impossible to achieve in Penang.

Have you come across any auctions of residential land?

Surprisingly land worth a lot more empty than those have buildings on it for what they are asking.