Poor thing la you guys. Go meet up in the pub and bitch about this developer and all the suffering they’ve caused.

Dude I’m on your side. I have tremendous empathy for those who have been screwed by unethical or incompetent developers. I make this a point every now and then when people get so gung ho about BBB.

I was just trying to lighten the mood. And I understand the long lasting financial ramifications on people and I’m sorry your story is serving as a cautionary tale.

It’s great that you’re describing the mental anguish buyers are going through.

Perhaps also describe the direct financial ramifications of having to continue to serve the mortgage and tying up the DSR whilst not owning any functional asset.

The developer profile is essential in these very volatile times.

My take is that it’s reported too factually with no emotion. You need to see tears streaming down the cheeks of an elderly woman on prime time news before anyone feels anything. That’s how jaded society is.

One would think that there’s enough rules and governance for developers. Perhaps since we have an oversupply situation it’s been too lax. I really think sell to build should be abolished.

In Australia, it’s build then sell. A 10% deposit is taken up front and held in trust. You only apply for loan when you VP. There’s merits for and against either scenario.

Singapore does and look at what a buoyant market they have with over 90% home ownership. We don’t have to look very far for best practice examples.

That’s the problem isn’t it. You got all these Kuchirat developers with poor standards and poor balance sheets building your home. They need to introduce pre-vetting and accountability of these “developers”.

The ones that have 8 units via compressed loans or whatever greed factor I may not have much sympathy for and they should just declare bankrupt at this stage.

The regular aunties and uncles do deserve sympathy.

Live by the sword die by the sword. What they were doing with loan compression is illegal anyway. Those who have survived thus far will be in for a rude shock when credit and banking information is shared.

Mira can’t be built. That is all. The courts are pretty much invalidating the sale of the land. It should not have been sold for this development in the first place. The fact that lawyers like Latheefa, Ambiga etc came on board means that there were suspicious activities with the land sale transaction. Read it as you will, this project was not meant to happen and it’s being enforced now.

Seriously we’re in the 21st century now, the government agencies can’t act like in the 80s/90s and do whatever the heck they want.

This post has been edited by Cavatzu: Oct 12 2022, 03:44 PM

That’s best case scenario. Sometimes the build quality can hold up till past year 3 then it all goes to hell when fully occupied. So how? At this point, owners who want to cash out won’t say anything. Steer clear of those who don’t adhere to good building standards.

May I remind everyone that no one has seen the impact of an ultra high dense development with thousands of units on plumbing etc. after a decent amount of time whilst being fully occupied.

This post has been edited by Cavatzu: Oct 19 2022, 11:46 AM

3 words - stop buying crap. Affordable housing relies on it being subsidised by full priced buyers so if one fails it all does.

Drama queen checking in. So people can complain about some over priced fish curry in Langkawi and all the authorities come down on these small business owners but when it comes to a purchase more than a few thousand times the quantum then it’s all silent? Where is the protection for the most essential of goods - a home.

There’s many who are not aware of this forums or are of the generation to even use it. Doesn’t mean there’s no victims out there. It could be an elderly relative who doesn’t communicate much in English.

This post has been edited by Cavatzu: Nov 1 2022, 07:44 PM

Nonsense the top 1% of earners in Malaysia congregating in this forum for which rumahwips to buy?

Then I’d also say these successful people have no empathy for the unfortunate and that’s not good. Speak up for good causes. I’m sure 8 Conlay buyers will be whinging to their groups.

A white knight might have been possible when we had record low OPR. I don’t think it is feasible at all to rescue this one now unless there’s a bail out or compulsion from govt.

This post has been edited by Cavatzu: Nov 9 2022, 03:44 PM