madmen

If that had been the system all along, many would not have bought condos, and put the money in the bank, instead.  The worst part of this is that there is no grandfathering - embassy-letters go away (with immigration's prodding last May), then the seasoning rules change, etc.  

 

Unlikely to sell a condo in under a month and get a good price - especially as immigration is driving away the potential buyers and renters at a brisk-pace.  Not to mention, "rent" was not factored into these folks retirement plan, here, and the money from the condo-sale is stuck in a Thai bank to satisfy immigration.

 

Those who Did The Right Thing, and planned to follow the rules, and likely invested in a condo to live in during their retirement, are being screwed.  There is no fairness in that. 

These are not and never will be condo buyers. If they don't have 800k then they won't have 5 to 10 million baht for a condo.

Most are in cheap 4 to 6k shoebox rooms because it's all they can afford.. It's just common sense

Security is a big issue in Manila Philippines too. My friend brought me to his large house in Manila. There are a cluster of bungalows with 8/10 ft high barbed wire all around the perimeter. I saw 6 security guards at the front gate carrying M16 ! I remarked that with that kind of security , he has no need to carry any firearms himself. Imagine my surprise when he showed me his arsenal including some shotguns. He explained that every household has guns ( rifles, shotguns, not only pistols) and when the kidnappers or robbers come in a van of 6-8 persons, every household must contribute to repel the intruders. Kidnapping was rampant then. 15 years ago. He even need to change his car mid journey and change his routine to work. Who in their right mind other than locals would endure that type of lifestyle? Besides the food sucks.  
 

No.  But I lived in Jomtien in a nice high-floor condo overlooking the islands (very inexpensive, thanks to immigration driving out the renters).  My spending funded 3 or 4 Thai's salaries, plus helping my wife's family, by supporting her (beginning years before we got married).  We now live in her home town, where I have helped her start a local business (she owns 100%). 

 

In other words, I am like thousands of others here - many of whom will be negatively affected by this change (more so the Thais they support, even than the expats).  This will not affect me directly - but many from this village, and hundreds of others, who work in areas serving expats will be hurting for sure.  Not that the people pushing this agenda, or folks like yourself, care about what happens to them.

"not expensive, thanks to immigration driving out the renters"

New rules only just began so a year or more left on retirement visas for everyone.

And you been renting in that one horse town before any announcements were even made. It's cheap because it's DEAD lol nothing happens unless your into begging beer bar granny's

What is it with you dude? What joy does telling childish fibs bring ? That's rhetorical no need to answer.[emoji106]

And expats can bend over while they suck up to zero dollar tourists,what a joke.

If you can drag your butt away from watching rice grow you will see all the BKK malls bursting with china's clutching hi so name brand bags. They are everywhere and spending.

Now back to staring at the ceiling lizards for you [emoji16]

BJ took a stable system that worked and trashed it

. So what if farang earned a bit less than the 65k a figure pulled out of immigrations backside? I don't see farang beggars anywhere . It's proven over and over that farang supporting a family upcountry can live on a fraction of that

So there was some stretching of the truth on income letters.. And the other embassies apart from the infamous 4 continue to accept the dodgy affidavits.

It's just a big mess now with not much clarity

At first, I thought this must be policy for March 2020 - but literally 1-month's notice?  No grandfathering?  That is severely unreasonable when dealing with people who may have RETIRED here - i.e. "Not planned to move again."  Maybe next time, it's 7 days to get out? 
 
I see no reason to put a significant portion of one's savings in a bank in a country which has made it clear we have no right to be here at all.  As just demonstrated, the rules can change with as little as ONE Month's Notice. 
 
The key to stocks and such is a "well balanced portfolio" - right?  So how much would someone "risk" in a foreign-country whose govt is spitting in their face with this rush-change?  Maybe 5%?  Certainly not more than 10% - the amount one would put in precious metals - right?  But the metals won't go to zero, whereas the govt could give an "order" to freeze all foreigner's accounts the same day they announce our "1-week to leave."  Who knows? 

This is a crazy move.  Expect major backlash and tens of thousands of Thai jobs lost as expats bail out - a portion because this move is unaffordable to them, but the majority because of the signal this rushed-change indicates about their being safe to stay here in the long-term.