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bingobongo

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Posts posted by bingobongo

    Capital Faces Oversupply Of Condo Units

    in Real Estate, Housing, House and Land Ownership

    Posted · Edited by bingobongo

    i get the impression that some of the bagholders on this thread also thought the Thai SET wouldn't crumble from 800 points to 400 points because they think LOS is a land of lollipops and rainbows, stupid then and still stupid now................somehow i think yes

    anyway enjoy the graph courtesy of Thaicrisis

    http://thaicrisis.files.wordpress.com/2008/10/landaug1.jpg

    Capital Faces Oversupply Of Condo Units

    in Real Estate, Housing, House and Land Ownership

    Posted · Edited by bingobongo

    well, reality finally meets fantasy..........

    credit crunch - check

    oversupply - check

    gvt on verge of collapse - check

    local economy disintegrating - check

    BANGKOK PROPERTY MARKET

    Capital faces oversupply of condo units

    Falling demand leaves developers with a large inventory of unsold units

    http://www.nationmultimedia.com/2008/10/31...ss_30087290.php

    Bongo Im still managing to let with ease my condos (4) just taken on a new client for 1 year priced at 14000baht per month. Advertised for 2 days now full again although did have a guy pay a deposit and never turn up?? Oh well w e kept the deposit and then re advertised 2 days later full.

    I'll let you know when it changes.

    I think the price range is the decider.

    wow 14000baht/35 = $400 *4 properties = $1600 per month? you really are a high roller.........NOT, when you get to 6 figures in $ (not baht) i'll be impressed

    your renters are smarter than you, why tie up the money in a capital trap when they can deploy the dough more effeciently some where else (such as the yen, shorting the global bourses etc) and be LIQUID and remain mobile

    I Just Love The Greenback

    in Jobs, Economy, Banking, Business, Investments

    Posted · Edited by bingobongo

    the $ is not rising due to strength but due to the fact that those who owe dollars are being forced to settle up in cash as the debt bubble collapses, since it has gotten more difficlut to keep rolling the loans. The result is a global short-squeeze on the dollar and soon that squeeze will end.

    The US fed will lower rates tomorrow (Wednesday) and then it will be time to strap in so plan accordingly

    Global Correction

    in Jobs, Economy, Banking, Business, Investments

    Posted

    well folks, my time on this thread has concluded

    i started this thread on August 17, 2007 and was met with derision by fools, the inept, and amateurs, but happily i am the one laughing now

    i tried to provided guidance and warnings but kept my position despite the personal attacks thru it all, some of you on this thread are competent but most are fools (i won't mention names as there are too many bagholders to mention)

    i will leave you this last piece of guidance:

    1) go long the Japanese Yen

    2) the bottom on the DOW (and global markets) is not in yet if 7700 on the DOW is broken (if resistance at 8500 is cleared then bounce will come)

    3) go to cash (get rid of stocks, condos, any debt and ALL commodities other than gold)

    4) good luck as many of you will need it :o (i won't need luck becasue i choose to think instead) :D

    Reic Warns Of Slowdown

    in Real Estate, Housing, House and Land Ownership

    Posted

    LOS, what a magical place...........

    inflation raging - check

    consumer confidence skidding - check

    riots/tear gas/ bomb in the streets - check

    interest rate policy remains steady - check

    SET lowest in 5 years - check

    where are the unicorns and rainbows?

    i only have 2 comments:

    1) condos in LOS are like bargirls, they age quickly and lack substance

    2) LOS is trurning into a clogged toilet, last farang out, please flush

    Thailand May Keep Rate at 16-Month High Amid Political Turmoil

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

    Police Fire Tear Gas At Protesters In Front Of Parliament

    in Thailand News

    Posted

    Look,

    How many of you on this forum have a say on what happens in this country then?

    I say about 5% or less.

    Alot of the rest is just nonsense.

    If you can vote then vote and speak.

    If you can't vote then shut up and dont say what you can not do or help.

    Who are you to decide those that can or cannot pass comment on a reasonably open forum?

    There are many foreigners that live in thailand and are very concerned about what happens in the country , none of them can vote , but i am sure many have wives and family that can vote . What happens here has a great deal to do with their lives and future here ,so i feel sure they are as equally concerned as a 'PURE'(?) Thai that can vote , perhaps if you paid attention to some of the comments , you may learn something of value instead of being critical in a place your nose may well be out of place .

    'PURE'

    So all the people on here who are foreigners to my country,also WHERE MY WIFE AND CHILD LIVE.

    Think they have the right to say this and that about the country. If its so bad why not go back to there own country and look at there own government.

    Maybe you should stop sticking your nose into places it should not be.

    then i feel sorry for YOUR WIFE AND CHILD, there are 175+ countries in this world of which there are 100+ better than LOS to raise a family

    it is official, LOS has turned into a toilet, last farang out please flush

    Reic Warns Of Slowdown

    in Real Estate, Housing, House and Land Ownership

    Posted

    credit tightening and housing supply growing................pure genius i tell you

    Financing mortgages now restricted as liquidity drops

    :o "Banks now have to recheck cusฌtomer credit history with the Credit Bureau and also evaluate whether the applicant has the ability to pay back before approving the loan. As a result, we reject up to 40 per cent of new appliฌcations for mortgages," he said. :D

    :D In the past two or three years ago, banks rejected between 20 per cent and 30 per cent of applications. :D

    http://www.nationmultimedia.com/2008/10/07...ss_30085240.php

    Lehman Was A Major Bangkok Landlord

    in Real Estate, Housing, House and Land Ownership

    Posted

    my company has a huge wad of cash and we HOPE that we can get our hands on 185. Ready to buy it now. Cash arranged.

    Do we think it will ever come up for sale at a cheap price?

    Chances are like 1 in 1 million.

    We are one of a stream of developers with access to mega bucks.

    Sails, Regent etc are a lot more problematic; and those are the types of projects that end up taking ages to sort.

    But vacant land ripe to be developed?

    BRING IT ON!

    right keep developing and add to the already large oversupply...........pure genius i tell you, pure genius

    when credit markets freeze, large down payments are required, credit terms tighten, rates spike......and viola no one left to buy into the albatross

    What Effect On Thailand Of Financial Squeeze?

    in Jobs, Economy, Banking, Business, Investments

    Posted · Edited by bingobongo

    credit markets are frozen......and yes in LOS too

    pain is coming to a builder/developer/homedebtor near you.........

    Thai developer Preuksa delays bond sale to next year

    :o Thai developer Preuksa Real Estate PS.BK said on Wednesday it had delayed a plan to sell three-year bonds worth up to 1.5 billion baht ($44 million) to next year due to unfavourable global financial conditions . :D

    :D Earlier, Thailand's top energy firm, PTT PCL PTT.BK, said it might postpone a plan to sell 10 billion baht ($296 million) of bonds due to the global financial crisis. :D

    http://www.reuters.com/article/rbssFinanci...K36639320081001

    Lehman Was A Major Bangkok Landlord

    in Real Estate, Housing, House and Land Ownership

    Posted · Edited by bingobongo

    now now folks, lets not pick on quicksilva, after all he may a bagholder in denial, but more importantly, back to the credit makets...................

    pain is coming to a builder/developer/homedebtor near you.........

    Thai developer Preuksa delays bond sale to next year

    :o Thai developer Preuksa Real Estate PS.BK said on Wednesday it had delayed a plan to sell three-year bonds worth up to 1.5 billion baht ($44 million) to next year due to unfavourable global financial conditions :D

    http://www.reuters.com/article/rbssFinancialServicesAndRealEstateNews/idUSBKK36639320081001

    Lehman Was A Major Bangkok Landlord

    in Real Estate, Housing, House and Land Ownership

    Posted

    well folks, the credit markets are frozen globally and liquidity is the way to go (aka cash is king) if you actually think that some bank is going to buy RE assets in this envt especailly in LOS, i suggest you get out of the sun and stop using yabba

    cash is king, pick your spots wisely, becasue the gloabl debt bubble is deflating and unless you have cash, you will pay dearly for credit, so the LOS housing market (as the rest of the world) will feel enormous pain, as the following has GLOBAL implications, and yes even in LOS

    builders will go under and there will be more empty large buildings in Bangkok

    Treasurys soar, credit pipes frozen

    http://money.cnn.com/2008/09/29/markets/bo...sion=2008092916

    Global Correction

    in Jobs, Economy, Banking, Business, Investments

    Posted · Edited by bingobongo

    well folks, cash is king, credit markets frozen...........good luck to whats left of the real estate market, it is going to get more expensive to service all that global debt, from factories, car dealerships, new construction, builders, etc. anyone who needs credit to survive

    Treasurys soar, credit pipes frozen

    Meanwhile, banks have the tap screwed down tightly on lending, keeping credit in a choke-hold.

    http://money.cnn.com/2008/09/29/markets/bo...sion=2008092914

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