Deflation coming!

[CH1961]

On 9/13/2020 at 11:30 AM, NCC1701A said:

look for deals they are not on the internet

I guess this kind of deals are not interesting for the majority of TVF user ????

[Lacessit]

On 9/13/2020 at 5:28 AM, ezzra said:

As Thailand weathered the pandemic quite successfully and quickly I don't see any deflation or other major economical issue to dog this nation, sure, there will be some fire sales here and there but not enough to call a deflation and look for bargains...

Thailand has not weathered the economic cost. Just a few examples:

My former landlord's agent had a very successful tour guide business. He speaks Thai, English, Chinese, Vietnamese and Khmer fluently. He's been out of tour work for 5 months. Scrapes a living as a handyman.

My former male masseur in CM has closed up his thriving massage shop. Not enough customers to even pay his rent. He has retrained as a hairdresser, still not making any money.

There was a very large restaurant on the 1318 towards San Kamphaeng that specialised in fresh garden salads. They closed in January, used to be jumping there on a Friday and Saturday night. Hundreds of Thai customers.

There's a golf club near Chiang Rai called Happy City. Owned by the Koreans, it has about 4 or 5 big condos on the side of the first fairway. Meant to accommodate Korean tourist golfers. The condos have been completely empty since the beginning of February.

If people have no jobs, no income, they have no money to spend. A caddie at Happy City was telling me last year she was making 9000 baht/month. Last month, she said she made 2000.

A lot of the condo apartments and gated community housing in Chiang Mai is owned by Chinese. There's been rumors the banks are worried, because the flow of cash smuggled out of China to meet mortgage payments has slowed to a trickle.

Still think Thailand is doing OK?

 

[Max69xl]

On 9/13/2020 at 11:30 AM, NCC1701A said:

there is definitely deflation in the hotel sector. i am staying in Bangkok now for three months at approximately 70% discount. But you have to walk around and look for deals they are not on the internet. 

 

the malls here in Bangkok are full of 50% off sales of brand name products. good time to pick up expensive running shoes at half off. there are many examples of other products.    

 

the story about the Chinese defaulting on their condo payments in Bangkok the other day is interesting. Not sure we will have a way to accurately measure the condo market because of the culture here and the united front of lies that are presented on the internet. Just the usual "the buildings are empty" stories. 

 

not much in the way of deals for a new car. food same or more. 

 

and there is way more attention paid to customers now. 

 

 

 

 

There are stores in every mall with 50-80% off every year, especially between seasons. It has nothing to do with the covid-19. Even if hotel prices have been going down, who are supposed to stay there? Expats don't stay in hotels. Lots and lots of hotels are closed.