Failure Rate For Condos Nears 50%

[boiledegg]

I remember those times well, there were lots of frustrated vultures circling for non existent bargains, the same happened in Phuket after the Tsunami.

Of course there were bargains the currency was devalued so long as you werent in Baht property would have been cheaper, most farangs arent in BHT.

[BEENTHEREDONETHAT]

Now it seems the thing being talked about is inflation and lots of it. So dosen't it make sense to buy a condo now and pay later with inflated dollars?

Useing an extreme example but if you had made a loan in germany in the 1920 to buy a house you could have payed it off 3 years later with money that would buy you a loaf of bread. Hopefully this inflation will not be as dramatic as that but same principal.

Edited June 18, 2008 by BEENTHEREDONETHAT

[nick2k]

To those that seem so confident that the price oil oil will fall dramatically

soon what about the ever-increasing possibility of a preemptive strike

by Israel against Iran ?

I think you raise a good point. Is Iranian oil purchased by the US or Europe? (not that it wouldn't have an impact - I agree- I ask because I don't know).

a story..

I was at the mcdonalds over in cp tower one day a few years ago. while eating a snack, I happen to noticed some thais talking with some middle eastern types, and noticed some drawings that they pointed at. ..it seems like they were negotiating the purchasing of oil.

wouldn't it be funny if they were iranians wheel and dealing with thais on oil - ...IN MCDONALD'S?

[rethaired]

I'm not an expert on Bangkok condo market, but everytime I read gleeful articles about new projects I have a feeling they are not for living but for speculation only.

Business is ok only as long as demand is rising, so they need to keep the bubble in the constant expansion stage, which is impossible.

They should rename Sukhumwit from "residential" to "speculation" area, no one can afford living their anymore.

Same here in Vancouver, Canada, where an estimate pegs 18,000 units being empty. In the MEANtime, we have hords of homeless people begging and sleeping in the street (and few shelters and affordable housing to speak of, of course).

Speculation is happening everywhere as the Baby Boomers are trying to put their nest eggs in a safe place and make it grow. Problem is that everything else (including eggs) is rising, negating the initial investments' gains, but I digress!

Edited June 19, 2008 by rethaired

[quiksilva]

I remember those times well, there were lots of frustrated vultures circling for non existent bargains, the same happened in Phuket after the Tsunami.

Of course there were bargains the currency was devalued so long as you werent in Baht property would have been cheaper, most farangs arent in BHT.

Thats a fair point, I suppose but very few people look at property in Thailand based on its relative dollar value. They typically just relate it to recent comparable sales.