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 Will you think the property market will fall soon?, will the landed property fall in 2024?

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ltf_195
post May 9 2023, 02:50 PM

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Waiting for property market fall since I'm married in 2011 to buy my own house. then I give up and bought house in 2017. Even during covid, housing price is not much effect. Why tf properties market is so strong??
ltf_195
post May 9 2023, 03:13 PM

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QUOTE(A.B.D. @ May 9 2023, 03:07 PM)
Where did you buy in 2017?

Was it in your target area or different from initial target area?
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Ipoh. Yes within target area
ltf_195
post May 9 2023, 04:24 PM

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QUOTE(A.B.D. @ May 9 2023, 03:50 PM)
all those years waiting to buy a house, you maintained your target area and eventually bought.

that should answer your question, it was demand from you and others like you in the same area.

that's why your own experience was that the property market was so strong.
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Well, thats quite funny. You are telling me that I have control over the property market. That mean if I still havent buy the house, or buy the house outside my area, the property market in my area will already collapse. What about people that not afford to buy house since 2011, did the property market in their universe collapse too, because they cannot be in the same universe as me right?

Lets be honest, you're property agent and everyone know about supply and demand theory. But lets be realistic, the property market is really strong despite various of gov policies, gov campaign, economic crisis, political crisis, covid-19 and so on, still property market is going strong. Will it fall? probably, but we didn't when. Property agent is one of many who afraid of property market fall because they will lose their job. Even rumors about property market fall like this thread will effect their income
ltf_195
post May 9 2023, 04:55 PM

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QUOTE(A.B.D. @ May 9 2023, 04:33 PM)
You and those who demanded the area have about equal responsibility. After everyone stop buying the collapse will happen.
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This is still a theory. In reality, there's alot other factor will affect it not only demand. For example, if bank stop provide loan for property or increase interest for property loan drastically, doesn't matter how much the demand is, the market will start to fall

QUOTE(A.B.D. @ May 9 2023, 04:33 PM)
I’m sure there are under performing properties outside Ipoh. But you ignore it. Just like KL and PJ people reject bungalow in Rawang but will wish for crash to happen in their area.
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Yes, you're right. But we are talking about the malaysia market in general. I still dont understand your point. My point is, the market is still going strong and nothing can stop it so far. Would you agree?
ltf_195
post May 11 2023, 02:15 PM

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QUOTE(A.B.D. @ May 9 2023, 07:39 PM)
The example I gave is to point out that since it is not possible for a desired area to have zero demand, then how high is the possibility of crash? Lelong also will see buyers push higher and higher because it’s worth it for them. Bank will always lend to qualified borrowers. Since you look for property in 2011 until now, government has tried to keep interest rate low without big jumps to encourage economic activity.

General trend, meaning all properties combined, is up, yes. There’s data few pages back.
But it’s made up of so many states, towns, tamans & types of properties, and not all are up, some areas are down. So there are super performers causing the general trend to be up. These areas also tend to be the target of people waiting for crash. Anyway my point is personal experience of property market is different like someone who wants to buy in hot area only or trying to sell their prop in dead area. General trend has limited use to an individual.
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Of course there will be price drop in certain undeveloped area, but this does not referred to the "market crash" as mention in the title. In general malaysia market, most of the time its stagnant and when something happen like rise in raw material price, housing price will be increase too, so when it will go down? Again in general malaysia market, newly develop area for double storey is half a million, if the area continue to develop the housing price will be increase, if not, most probably stagnant, very little to have price drop.

I think it will be healthier for the industry to have up and down. People say the bigger you are the harder you fall. At that point it will bring down the whole economy. I still believe the market crash but no one knows when, probably we cannot see it coming.

Anyway, all my comment are my opinion as general Malaysian who not in the industries but really want an affordable housing price that worth our money. Yes, maybe your company loss a lot of money in property industries but it still does not reflex to the housing price in general.

 

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