From the past there is always better deal in the market and there had never been a shortage of housing.
It was always their own human weakness, if they feel guilty then there is a chance they learn, those that blame others will suffer the same in the future.

I know a woman who ask her boyfriend for a property join name with her, when it became apparent they couldn't afford it, she ask for separation and blame him that he drag her credit in the mud when she's the one who induce the whole deal in the first place.
It is always that those that are close to us we should becareful of, be it family or friends.

In my time where people still do blogging, or actually people still read blogs they hired bloggers, CNY coming they hire fengshui master for talks etc.

They are all actors in a way or another.
When your regular Joe earns only a few thousand per month, he couldn't come up with downpayment let alone mortgages how can there be tens of thousands of new buyers suddenly?
From China?

In relation to housing affordability, I think household income is more relevant a number than personal earnings.

Nonetheless, I have a conversation with a friend who just came back from Japan, saying that it is possible to to purchase a relatively new house (actual house) in Nerima, Tokyo for a little more than a million of our currency, it is even possible to purchase one without carport for a little more than 500k in Adachi, outskirts of Tokyo.
This is for OECD country with high income and development, and we have properties in PJ (considered outskirts of the city), Shah Alam and even Serdang asking for millions of ringgit.

Given only 3 sold out of 15 of the lelong units, there wasn't much demand at this price level even.

Rather than individuals, I am more worried about how much banks and credit suppliers can recoup.
How many banks is actually underwater at this moment?
Can they actually be bailed?
Would there be blood on this street when the eventual failure arrives?

If housing loan 25%, others loan to developers, some even develop themselves such as Hong Leong and RHB via OSK, not to mention REITs.
In total, how many % of real exposure?
It is scary when you think about it.

In actuality the sales in the auction market isn't that great either way, you can count with your fingers the numbers of transaction done.
I would only start to look when it broke below 200k level, since the memory of the previous housing price collapse isn't that far away I expect price can be far far far far lower.

Just a few post above you you see 630k property auction for 318k also no demand, do you think this is normal if not burst?
People like to lose money or only you see people jump from building and hang themselves to be counted as bubble burst?

For me I would look at interbank rate, if interbank lending rose, means that there is no money in the market, like in stock trying to play bottom is like catching a falling knife.
I would look to buy at the first rise at the trough, say, I would buy when interest rate falls, the ones in the business should know.

Don't trust the Edge, they have vested interest in the property industry, if you follow their analyst recommendation you will die.

I don't want too much blood either, property price in KL slump for many years since May 13th for example and I don't want our country to become the next Venezuela.

I don't know where you get your info, but your interbank rate is almost at the highest in the past 10 years.
https://tradingeconomics.com/malaysia/interbank-rate

And a page back here, they mentioned banks raised mortgage rate too.

Dear sir, you are too young to live at my age, do you know what year is 1997-1998?
Do you know that Korea, Indonesia and Thailand default?
Which means that the country is essentially bankrupt?

You actually see blood on the street, South Koreans suicide, take demonstration to the street and actually changed their dictatorship government, on the other hand Thailand military controls the country, in Indonesia Suharto cannot afford to pay his army and they turn to piracy in the straits of Malacca, they blame this to the Chinese ethnic as scapegoat and actually kill and rape Chinese in Indonesia, many flee here.
We live in interesting times back then as I remember.

We are a hair close to bankrupt, before this our currency stood 2.5 to one USD, and even the money you saved evaporate, not to mention stocks, assets, property is even less concern back then.

Do you know that we actually banned Singapore stock holders of KLSE from selling our stock?
Many of Singaporeans are screwed big big time and we have never attract as much foreign investment ever since.

A 10 year market cycle is long enough for any indicator, given our country is only 62 years old still.
If you think it is normal to take 14.5% as a benchmark, go ahead.

I suggest you to watch the recent Korean movie:
https://www.youtube.com/watch?v=iw_wt2hHW2w

This post has been edited by Angelic Layer: Jan 29 2019, 10:53 AM

Fed asset purchasing not necessary related to property, but since last decade they absorbed Freddie and Fannie, so it is the exception.

Government should ban the sale of property development under 500 sq feet like in the UK to prevent these partition houses.
We don't want those bullshit like eating or cooking next to toilet bowl like what's happened in Hong Kong.

Confirm will attract more banglas and africans.
Further destroying property value and living standard of the neighborhood.

So desperate for short term gain.

Life of Hong Kong subletting units

No, we just need a safety net.
Directly forbid the sale of any residential property under 500 sq ft like the UK government does, or once the trend starts it will be ugly.

All data is about apartment buildings, how about price data on landed houses or even non build-up empty land?

I disagree when it is mentioned super/hypermarket.
You don't buy meat or vegetables usually online.

Leasehold can still wait for 2 rounds since there are more deal to come.

Open mudah or whatever property site and search, there are quite a few better choices at Damansara at the price.
Even 40% off doesn't seemed a great deal in comparison.

I can only say the market is very very bad, and the worse is coming still, and I can safely say there will be even better deal coming along.
But before that we have to cushion for the market difficulties to survive first.

True, but doesn't really reflect on their income as stated earlier.

Back in 97, our bubble wasn't of property, but assets like stock, even though I am young at the time we don't have trouble of negative equity at the time, but what happens is that there are tonnes of abandoned projects, some still stand in ruins today, personally known a family that have disposable cash and bought and refurbished what is now called "Fawina Court" in Ampang after it stand vacant for years and made a tonne of cash from it, and they aren't even experience property developer.
But it happens in Hong Kong, Kenny Bee is a classic example, his wife Teresa Cheung secured multiple property loan, thinking that it can only goes up and they have the income to finance the loans.

1. If your property value fells less than the remaining balance of your loan, say there is 1 million remaining on your loan and the property is now only worth 800k on the market, the property is "underwater" as they say.
They will ask you to refinance the loan say in our example, 200k - in cash, if not they will repossess your property if you couldn't renegotiate the term of loans with them and you will lost your house and go bankrupt.
This is what happens to the multi-millionaire Kenny Bee, it was the new buzz word of the late 90's and back then we didn't think this is possible even if one pay their loans on time.
I think the auction now can tell you if there is a lot of affordable housing in default.
As to why banks and government allows that, there are some banks that are involved with the developer themselves, some like Hong Leong are even developer themselves.
MBF did the same thing in the 90's, they have the most branch out of all banks, and went down under as the market collapse.
Some government linked companies, investment and cronies in each and their own ways involved in real estate business, and it stands about 4.2% of our GDP.
We don't have a honorable figure like Paul Volcker of Federal Reserve or as qualified and as good, and all have to say good things for the government. (ie. Zeti for Najib, and previous directors of BNM in Mahathir era)

2. Household debt wasn't high in the 90's, buying car with cash instead of loan with help of family is not uncommon, and downpayment of 30-40% for property is even common, and people aren't highly leveraged, our stock market on the other hand is a different story when many players overleveraged on their margins, most of all the bubble wasn't on real estate.

3. Cash is always important, but when I got out of college around the great recession 07-08 we played gold. Bought some gold bars at around $650 price level, it shoot up till $1800, and I sold around $1600 as I need money to buy stock, it is a good decision, but got cut kaw kaw as it was easy to buy gold in Malaysia, but impossible to sell, all shops will cut you kaw kaw and the market is monopolized by goldsmith, finally there is a goldbar dealer who could take my gold at Kuchai.
If I could do it today I will put some money on gold investment account like Maybank instead of holding real gold as a hedge against currency drop and inflation, I think I might buy some if it is at 1200-1250 level these days.

This post has been edited by Angelic Layer: Apr 15 2019, 01:41 PM