Gloomy Days Ahead For Asia's Housing Markets

[backflip]

"keep trying backflip keep trying, vietnam banking system is on verge of collapse due to rampant inflation and once vietnam circles the bowl, the rest of asia will take it on the chin"

Vietnam is hardly the financial backbone of Asia.

"inflation is rampant in LOS as well, and interest rates will rise, do not let your frustration pollute your thinking"

Inflation is not rampant, and I'm not frustrated by anything. You're frustrated because your partner wants you to buy him a home, and you're doing everything possible to not support him.

"dont hate me backflip because i am right, hate yourself because you are wrong"

I don't hate you bingobongo, evidently you have an unwarranted sense of self-importance. On the other hand, every single one of your predictions regarding the economy, real estate, and finace (whether in Thailand or anywhere else), has been absolutely, comically, and completely wrong. Only if I followed your financial advice would I hate myself.

[palm]

"keep trying backflip keep trying, vietnam banking system is on verge of collapse due to rampant inflation and once vietnam circles the bowl, the rest of asia will take it on the chin"

Vietnam is hardly the financial backbone of Asia.

"inflation is rampant in LOS as well, and interest rates will rise, do not let your frustration pollute your thinking"

Inflation is not rampant, and I'm not frustrated by anything. You're frustrated because your partner wants you to buy him a home, and you're doing everything possible to not support him.

"dont hate me backflip because i am right, hate yourself because you are wrong"

I don't hate you bingobongo, evidently you have an unwarranted sense of self-importance. On the other hand, every single one of your predictions regarding the economy, real estate, and finace (whether in Thailand or anywhere else), has been absolutely, comically, and completely wrong. Only if I followed your financial advice would I hate myself.

Following on from the guy who found out bingobongo posting hundreds of anti-Thailand gibberish, he states:

-----------

My wife has family in Thailand, but I have no intention to emmigrate to Thailand as finding work their as a "farang" would be impossible given the new visa requirements. signs-wallbash.gif My wife bought a condo in 2005 signs-wallbash.gif so I am interested in seeing how much it has fallen in value. It has taken her 18 months to find a tennant. It is located in the Thonglor section. I reside in the US.

Koko

---------

He's a Moderator of a site called globalhousepricecrash.com! as kokothemonkey

Here's the thread - http://forum.globalhousepricecrash.com/ind...50&start=50 - wow literally HUNDREDS of disgruntled posts by him on the same thread!

So bongo, what have you got to say now?

[Chaimai]

Where I come from we have a word for people like Bingobongo:-

<deleted> !

[pkrv]

I agree we live in a big scary world, and nothing is for certain - my philosophy is simply to make the best of it. Bingo are you aware that erratic and inconsistent behaviour coupled with extreme paranoia and over inflated sense of self worth have some quite hefty medical terms to describe the condition? BTW did you ever even reply to donx? If not there is another term that should be applied, its called being downright rude!

IMO Thailand is a good bet if you wish to buy in Asia and wish to buy into an up and coming country. You can buy freehold property (condominiums), in your name, property for the moment is still relatively inexpensive, there are a wide variety of lifestyles from beach living through to mega city living. English is widely spoken (especially in Bangkok), street signs are in English as are supermarket signs, cost of living is low, and ultra luxury is available. For me to buy in Bangkok was pretty much a no brainer. Yes there are pitfalls but that is just the same as anywhere else on the face of the planet. If you failed elswhere guess what you will fail here too.

Edited May 30, 2008 by pkrv

[bingobongo]

keep trying pkrv, the only people you will convince is yourself and the gullible

BOT will raise rates to contain the rampant LOS inflation and the impact will be fun for the solvent

[midas]

Where I come from we have a word for people like Bingobongo:-

<deleted> !

oh really And what makes your opinion so special ?

[backflip]

"the only people you will convince..."

bongobongo, you have yet to convince anyone of anything.

[bingobongo]

backflip old friend, medication for delusions is available......

is this drop because:

1) the rich do not use mass transit

2) there is oversupply

3) the economy has hit the skids

4) the tanks may be about to roll

5) inflation is rampant and people need to eat as opposed to buying 4 walls and plaster

6) a rise in interest rates is expected to control inflation

Condominium sales on mass transit routes slows in Q1

Vasant Kongchan, the centre's managing director, said the total sales of condominiums in the city had dropped by 7 per cent on average.

The sales of condominiums situated on Ratchadaphisek Road nosedived by 46 per cent, those on Silom and Rama III roads dropped by 43 per cent and those on Onnuj Road fell by 14 per cent.

http://enews.mcot.net/view.php?id=4514

Edited May 31, 2008 by bingobongo

[highdiver]

can you belive it ???

Bingo sold his condo in 2006 and lost on the price increase and the currency increase...

2007-06-15 09:06:16

hello mdeland, you are right i am a nonplayer at the moment, as we sold our property in 2006 prior to the glorious coup, so as of now, our money is safely tucked away in the west, we will come back, once the coup has thoroughly destroyed the economy (which they are well on their way to doing as we speak)"

http://www.thaivisa.com/forum/index.php?s=...t&p=1361865

so he sold his condo in 2006 the prices have gone up and up. the dollar that he safely Tucked away in the west has lost its value. the price of real estate in the US has gone down...and the Junta made Thailand a better economy...

this is not a mid life crisis its a whole life crisis...

[thaigene2]

can you belive it ???

Bingo sold his condo in 2006 and lost on the price increase and the currency increase...

2007-06-15 09:06:16

hello mdeland, you are right i am a nonplayer at the moment, as we sold our property in 2006 prior to the glorious coup, so as of now, our money is safely tucked away in the west, we will come back, once the coup has thoroughly destroyed the economy (which they are well on their way to doing as we speak)"

http://www.thaivisa.com/forum/index.php?s=...t&p=1361865

so he sold his condo in 2006 the prices have gone up and up. the dollar that he safely Tucked away in the west has lost its value. the price of real estate in the US has gone down...and the Junta made Thailand a better economy...

this is not a mid life crisis its a whole life crisis...

Well I guess other than your allusions to gay-tantrum stuff aside, maybe he should have waited til 2007 to sell - not 2008 - I'm sure you'd agree 2008 is less-good. Hindsight. As for the idea of coming back - I like it, but also agree with his main theory that property prices worldwide are into a skid (freefall is some places like the US - though maybe not here) and we should take a lesson from Busman. Search for his posts..

I'll buy here one day (yeah go on quote "ONE DAY")but it will be a date of my choosing and when the market conditions are optimum for me (go on quote that too). That's probably around 2009/10 I think - the oversuplly should be online by then. Maybe later - but before 2015 - and only if the country has grown up to allow "REAL" visas. I get a laugh about these millenium 50 story joints in the sky - can you imagine it - right now, with the world heading into recession - and Bangkok in serious oversupply??

Edited May 31, 2008 by thaigene2

[bingobongo]

hello dreamers and donald trump "not gonna bes"

backflip, your (and other) personal attacks only confrim your frustration and futility, so keep attacking, that is a good gauge as to how bad things are in LOS, don't hate me because your paper profits are fading.....hate yourself

lets see, Hong Kong, Australia, Singapore and Vietnam.......and soon LOS will be added to the list

but let me guess, LOS is still special despite the civil unrest? LOL, go find some more suckers somewhere else

did I mention that interest rates will soon rise? LOL

Home Buyers in Asia Play the Waiting Game

With prices expected to continue falling in Asia, it's no surprise that potential buyers are happy to play the waiting game.

http://www.cnbc.com/id/24886079

Edited June 1, 2008 by bingobongo

[jumnien]

Bingo - I'm desperately looking to buy quality condos at prices remotely approaching those of just a few short years ago. Tell me where these bargains are? For the life of me I can't find them!

[backflip]

Years ago, "twigman" (not his real name) was held in high esteem. His experiences and anecdotes provided an insight to Thailand. His opinion was so revered that, when someone said, "twigman says <this> and twigman says <that>", people would sit up and take notice. Unfortunately for twigman, he got too big for his britches, and purposely posted misinformation. Shortly after the tsunami, he wrote that farangs were fleeing from Pattaya, and condos could be bought for pennies on the dollar. TVers could not resist, posting, "By golly, twigman says that condos are going to be so cheap in Pattaya, I'm gonna buy me one." The prices didn't budge and, since then, have risen substantially. People then realized that twigman lied about the situation and, as a result, when people mention him, we smile and roll our eyes. bingobongo has the same level of reality as the twig.

[thaigene2]

If it's the "Twig" Man I'm thinking of, he never lost his esteem - he was "outed" by some pr+ck who posted his name on the Web. That sort of forced him to take a lower profile. Can't blame him for that.

Perhaps you're the only one who rolls your eyes at his mention?

Edited June 1, 2008 by thaigene2

[bingobongo]

i guess overpriced, oversupplied condos do not bring contentment under crushing debt and the inability to afford food or gas due to rampant inflation

did i mention that interest rates will soon rise? LOL

Edge of despair

Mr Noppadon said the extensive poll results shows that mental stress is building up on Thai people in the face of economic problems and increasingly high living costs.

http://www.bangkokpost.com/topstories/tops...s.php?id=127940

[pkrv]

Bingo, when were you actually last in Thailand? For me it was Bangkok back in February - I saw a bustling thriving city, in fact the shopping centers were packed almost to capacity, I now avoid them (if possible) at weekends!

Come on now Bingo - I know you have it in you to answer a simple question.

Edited June 2, 2008 by pkrv

[Naam]

mental stress is building up on Thai people in the face of economic problems and increasingly high living costs

but that's horrible. poor Thai people!

[pkrv]

mental stress is building up on Thai people in the face of economic problems and increasingly high living costs

but that's horrible. poor Thai people!

Oh Naam, I am afraid it is far worse than that. In Bangkok they now aparently buy BTS cards and charge them up with real money! (AND I HAVE SEEN THIS!) AND then they go on to fill the trains! You never know the next thing is that they may now add more carrages or trains to cope with this frivolity! Should not 'they' all be buying their one rice grain per day food quota! Where will it all end?

[bingobongo]

can you smell the rot? basically investing anywhere BUT LOS would have been better, oil, gold, even Latvia, did I mention that the BOT raising rates is going to make it worse?

take your pick with or without inflation (raging at 10%+) LOS is dead money, dont even mention the politcal mess

even if yield is 7% on rentals, with 10%+ inflation and declining values, you actually lose money

In Thailand, political problems have led to weak economic growth and falling property prices.

ANNUAL HOUSE PRICE CHANGE (%), IN LOCAL CURRENCY TERMS

Thailand

2007* (LATEST) -0.78

END-2006 1.87

ANNUAL HOUSE PRICE CHANGE 2007* (%), ADJUSTED FOR INFLATION

Thailand

INFLATION-ADJUSTED -2.81

NOMINAL -0.78

http://www.globalpropertyguide.com/investm...ref=patrick.net

Edited June 2, 2008 by bingobongo

[pkrv]

can you smell the rot? basically investing anywhere BUT LOS would have been better, oil, gold, even Latvia, did I mention that the BOT raising rates is going to make it worse?

take your pick with or without inflation (raging at 10%+) LOS is dead money, dont even mention the politcal mess

even if yield is 7% on rentals, with 10%+ inflation and declining values, you actually lose money

In Thailand, political problems have led to weak economic growth and falling property prices.

ANNUAL HOUSE PRICE CHANGE (%), IN LOCAL CURRENCY TERMS

Thailand

2007* (LATEST) -0.78

END-2006 1.87

ANNUAL HOUSE PRICE CHANGE 2007* (%), ADJUSTED FOR INFLATION

Thailand

INFLATION-ADJUSTED -2.81

NOMINAL -0.78

http://www.globalpropertyguide.com/investm...ref=patrick.net

Glad to see you back with us bingobongo - thought you went astray for a moment. We did however lose one post on high end condominiums in in the exercise.

[bingobongo]

thats gonna hurt.......interest rates will go up and housing values/paper profits/equity evaporates faster than a bargirls beauty

Thailand’s inflation rate soared to 7.6 per cent in May, the highest in nearly a decade, due to the unrelenting rise of oil prices.

According to the Commerce Ministry, May inflation was the highest since August 1998, prompting the Bank of Thailand to announce it would revise its economic growth and inflation rate forecast for the year.

[jitagon]

can you smell the rot? basically investing anywhere BUT LOS would have been better, oil, gold, even Latvia, did I mention that the BOT raising rates is going to make it worse?

take your pick with or without inflation (raging at 10%+) LOS is dead money, dont even mention the politcal mess

even if yield is 7% on rentals, with 10%+ inflation and declining values, you actually lose money

In Thailand, political problems have led to weak economic growth and falling property prices.

ANNUAL HOUSE PRICE CHANGE (%), IN LOCAL CURRENCY TERMS

Thailand

2007* (LATEST) -0.78

END-2006 1.87

ANNUAL HOUSE PRICE CHANGE 2007* (%), ADJUSTED FOR INFLATION

Thailand

INFLATION-ADJUSTED -2.81

NOMINAL -0.78

http://www.globalpropertyguide.com/investm...ref=patrick.net

I do wish you'd come here to my area of Phuket and tell all the landowners/builders this, who ares still slinging up their godawful little boxes all over the place

[backflip]

"frustration and futility"

bingobongo, with what am I frustrated? You're the one who is frustrated trying to convince your boyfriend that you shouldn't buy a home for him. You're not much of a man, bb. The thing between your legs is your tail, and you've tucked it there for safety as you run from your obligations and responsibilities.

[Tony121]

Bingobongo why do you keep referring to Bargirls and real estate ?

[highdiver]

"frustration and futility"

bingobongo, with what am I frustrated? You're the one who is frustrated trying to convince your boyfriend that you shouldn't buy a home for him. You're not much of a man, bb. The thing between your legs is your tail, and you've tucked it there for safety as you run from your obligations and responsibilities.

how do you know this about his boyfriend??

[highdiver]

well back to subject...

Pattaya profits from Russian property buyers

http://www.bangkokpost.com/breaking_news/b...s.php?id=127965

[cloudhopper]

well back to subject...

Pattaya profits from Russian property buyers

http://www.bangkokpost.com/breaking_news/b...s.php?id=127965

That should reduce the already low low crime rate in that festering shithole......

[pkrv]

well back to subject...

Pattaya profits from Russian property buyers

http://www.bangkokpost.com/breaking_news/b...s.php?id=127965

That should reduce the already low low crime rate in that festering shithole......

I do wish you'd come here to my area of Phuket and tell all the landowners/builders this, who ares still slinging up their godawful little boxes all over the place

Sorry for combining comments - I am a frequent visitor to Berlin over the Xmas period, I am afraid I love the Glühwein and Winterfeldt markets. There is the West and the very, very bleak/stark/cold/you name it! ex Soviet architecture. Unfortunately Pattaya/Phuket architecture probably looks like heaven - It will take time for Thailand to realise it should not make the same mistakes as other resorts like Grand Canaria (yes I did go there once on a free holiday). My god the Mumbo/Bingo/Jumbo/Yumbo/Gumbo or whatever center it is, is a sight to behold! They do not build (or are executed if they even propose to) them like that anymore!

Bangkok has made a start and architecture is now paramount in condominiums (that wish to sell). There are now some great developments on the skyline (OK there are some crap ones to).

Edited June 3, 2008 by pkrv

[Heng]

well back to subject...

Pattaya profits from Russian property buyers

I don't know about all of Pattaya, but we certainly are.

And these folks hardly fit the Russian gangster stereotype. Russian couples, often complete with kids (shock!), not coming and going at odd hours, doing things like basking by the pool or BBQ'ing like they were Texans or something. Unless they are running their criminal enterprises online only, they seem like rather plain boring folks who don't complain much.

[bingobongo]

the dream is ending and soon it will be time to wake up................interest rates will rise (possibly as early as July 16) and, well you know what will happen to condo/housing prices unless you are deep in denial

good luck homedebtors, the last support of the real estate market (negative real interest rates) will soon be removed

Prices Rise in Indonesia, Thailand

The rise in Thailand's consumer-price index notched a 10-year high. The nation hasn't altered its monetary policy since last summer, but it may be forced to raise rates even as political tension mounts and the trade balance swings into deficit.

"Higher-than-expected inflation increases the likelihood that the central bank will raise its policy interest rate at its next meeting on July 16," said SCB Securities senior economist Pornthep Jubandhu.

http://online.wsj.com/article/SB1212433582...=googlenews_wsj

Edited June 3, 2008 by bingobongo