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bingobongo

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Posts posted by bingobongo

    3 Years For Some Property To Clear

    in Real Estate, Housing, House and Land Ownership

    Posted · Edited by bingobongo

    let me try and understand something, Preuksa Real Estate recorded the highest growth of residences "in stock", with its inventory rising by 55.55 per cent year on year per the original post, and now these "visionaries" want to build more? so in one article they have massive inventory, but in another they say, "He said the company was confident of the housing demand of its target group"

    nothing like talking out both sides of one's own arse i guess, the spin machine is in full throttle

    oh i smell some very large bank defaults coming to thai bank very soon, it will soon be time to go short again

    Preuksa plans Yaowarat condo

    http://www.bangkokpost.com/business/econom...-yaowarat-condo

    3 Years For Some Property To Clear

    in Real Estate, Housing, House and Land Ownership

    Posted

    i wonder how the real estate shills/homedebtors will spin this one........ :o

    so lets see, rates are at rock bottom levels and nothing is moving and they think things will improve in "as soon as three months hence"? genius i tell you, pure genius

    Preuksa Real Estate recorded the highest growth of residences "in stock", with its :Dinventory rising by 55.55 per cent year on year :D to a value of Bt12.6 billion at the end of 2008. Next came Supalai and Quality Houses, whose :D inventories grew 34.1 per cent and 33.1 per cent :D respectively, to finish 2008 with values of Bt11.4 billion and Bt19.3 billion

    http://www.nationmultimedia.com/2009/03/11...ss_30097587.php

    Global Correction

    in Jobs, Economy, Banking, Business, Investments

    Posted · Edited by bingobongo

    naam, you post in ThaiVisa like a monkey in heat, all over the place and with no control

    i wonder which way it will break, maybe your fortune teller, er economic team, can lead us to the promised land naam? :o

    post-41241-1234440564_thumb.png

    well well well, do i really need to say anything to the bagholders, and the funny thing is wave 2 has just started and wave 3 isn't even here yet

    as far as asia is concerned...so much for decoupling etc. and as for LOS and the baht? i will continue to short the baht faster than an unemployed bargirl shortens her skirt in these turbulent times, and as for LOS? it is about to become a basket case

    i can look back fondly to when i started this thread back in 2007, and can I happily say that my wallet and genius have been vindicated...... :D

    for those who listened, you have done well either by making money on the way down or by remaining unscathed and i congratulate you, for those who didn't (those folks are too many in number to mention by name), i won't rub it in, the market is doing that for you

    Dow 6,804.55 -256.45

    Asian Developers Delay Projects In Downturn

    in Real Estate, Housing, House and Land Ownership

    Posted · Edited by bingobongo

    who were the "gurus" who said that asia was immune? oh yes, i remember, i ignored them.........

    so many lost deposits......oh well, i guess that is how homedebtors learn

    Asian developers delay projects in downturn

    Pairote Sukjan, president of Buathong Property in Bangkok, told AFP the crisis prompted Thai banks to cut back on lending to both condominium developers and buyers.

    :o "Several condominium projects were delayed or cancelled because developers could not get loans from banks easily," Pairote said. :D

    http://www.google.com/hostednews/afp/artic...7bu6pcBcXx_MspA

    Property Over The Next Two Years Let Us Forecast.

    in Real Estate, Housing, House and Land Ownership

    Posted · Edited by bingobongo

    this is in fact quite an easy question, but lets start out with this little morsel first...

    :o The Bank of Thailand has said it may continue easing monetary policy at its next meeting on Feb. 25 after cutting its benchark interest rate

    to 2 percent in two reductions since early December. :D

    so here are some scenarios:

    1) if property is not moving when rates are pratically zero (as they soon will be), then they will most assuredly will not sell or appreciate as interest rates rise in the future

    2) if BOT does not raise interest rates or drops rates to zero, then the baht will continue to devalue, so the poor bagholder who bought his debt trap when the baht was say 35 to the dollar will have all his phantom 10% appreciation wiped away when the baht falls to 38 to the dollar

    rates go up, prices come down, rates go down and you lose on currency devaluation

    so to summarize, property will not rise in value (nominally or inflation adjusted) and the baht will continue to fall, and the homedebtor is in fact getting screwed twice

    any questions?

    Thailand’s Economy Probably Shrank For First Time In 10 Years

    in Jobs, Economy, Banking, Business, Investments

    Posted · Edited by bingobongo

    who were the fools who said LOS was "immune", "special", "disconnected from the crisis","insert rainbow here"?........oh yes, now i remember

    probably the same fools who rode the SET from 800 down to 400......... :D

    :o Thailand may join neighbors Singapore, Taiwan, Hong Kong and Japan in recession as demand for the region's goods dries up amid the deepening global slump. :D

    http://www.bloomberg.com/apps/news?pid=206...&refer=asia

    Global Correction

    in Jobs, Economy, Banking, Business, Investments

    Posted · Edited by bingobongo

    monkeys i tell you, monkeys........naam what brand of adult diapers are popular? i am thinking of investing in a manufacturer

    anyway, what a magical place.........

    Thai Central Bank Says Crisis in 2009 Less Severe Than 1997

    :o Thailand's benchmark equity SET Index posted its worst annual performance in 11 years in 2008, falling by almost 48 percent. This year, it has dropped another 2.1 percent. :D

    The baht currency has extended last year's 15 percent loss against the dollar on speculation a deepening economic slump will prompt foreigners to further trim their holdings.

    http://www.bloomberg.com/apps/news?pid=206...&refer=home

    Thai Economic Crash

    in Jobs, Economy, Banking, Business, Investments

    Posted · Edited by bingobongo

    An outstanding report Naam, where was the data generated?

    Asia economic research team of one of my banks Ray.

    your asian economic team at a bank? are these the same visionaries that said asia would decouple from the global mess?

    let me guess, "your" asian economic research team consists of:

    - fortune teller (general trends analyst)

    - som tham seller (commodities analyst)

    - tuk tuk driver (oil and gas analyst)

    - your proctologist (health care analyst)

    come on naam, i thought you trekkies/klingons were brilliant, and visionary....... :o

    Global Correction

    in Jobs, Economy, Banking, Business, Investments

    Posted · Edited by bingobongo

    well kiddies, wave two is coming, (wave 3 is the commercial real estate collpase that is not included in the chart) and this wave will be longer in duration.......prepare accordingly.....and yes LOS will feel the pain as well

    naam, how is the old prostate nowadays?

    post-41241-1234203227_thumb.png

    Just something to think about for what it's worth. My sister in the US has been in the mortgage business for years. She is now very busy doing re-financing as the rates have dropped so low. Many of these "re-sets" may never happen as people are locking in low rates now. Re-sets are always linked to something too. T-bill, libor or whatever. With rates so low, an interest rate adjustment may be very small.

    that would be fine and dandy if rates were staying low, but they are rising again so the refinancing window is closing per the chart below

    the 10 year bottomed at around 2.18% and now that the bond bubble is bursting, yields are around 3.04% and will continue to climb,

    and given the that low was around Christmas time, most people were focusing on unwrapping gifts and not refinancing

    post-41241-1234268139_thumb.png

    Twelve Condominium Projects Suspended

    in Real Estate, Housing, House and Land Ownership

    Posted

    Many of those with kool-aid fantasies of the riches they were going to obtain from their houses are waking up to the reality of the market.

    Reality must be very unpleasant for the typical homedebtor. I am sure more prefer the denial of beliefs such as: “prices will rebound when the economy picks up” or “this correction is only temporary” or “Thailand real estate has proven to be a good investment in the long term” or “we are closer to the bottom than to the top.”

    All of these beliefs cause people to hold on to real estate that is draining all their cash each month and giving them nothing in return.

    Twelve Condominium Projects Suspended

    in Real Estate, Housing, House and Land Ownership

    Posted · Edited by bingobongo

    There's a German word, schadenfreud, meaning finding pleasure at the misfortune of others, that expresses perfectly the attitutde of the OP here. Hard to see anything of value or constructive that they contribute here. All of us are quite capable to make our own decision as to what to do with our money, and nothing they say can influence us.

    So to answer Gravelrash's question then, he's a schadenfreud <deleted>. :o

    i am a <deleted> because others make bad choices?

    come on now, dont hate because you are blind to what has and is happening, by the way how is the 3rd world these days?

    Twelve Condominium Projects Suspended

    in Real Estate, Housing, House and Land Ownership

    Posted · Edited by bingobongo

    oh the humanity, so many dreams and deposits about to disappear, well at least the birds will have new homes to move into

    i wonder how the RE spin machine will turn this into a positive developement (that was a pun)........let me guess, the market is sill booming, healthy, etc(insert rainbow here)

    fools deserve to be separated form their dough

    BANGKOK SETBACK

    Twelve condominium projects suspended

    :o Normally, the market can absorb unsold residential stock within one-and-a-half years, Samma said, but now that the economy is reeling from the global recession, it will take twice as long. :D

    http://www.nationmultimedia.com/2009/02/05...ss_30095036.php

    "fools deserve to be separated form their dough". Do they, why is that? They have probably worked long and hard for that money. What sort of <deleted> are you gloating over others misfortune? No doubt someone with nothing yourself, except a bar bill.

    lol, i work for my money too, that is why i am not dumb enough to invest blindly and get emotional about investments, half these fools got greedy and got their <deleted> handed to them

    anybody can make money, but it takes smarts not to be separted from it and manage it correctly

    oh and to your last point, i do not drink

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