Property Crisis ?

[pkrv]

The topic of Bangkok being submerged by the rising sea levels raises a question regarding individuals thinking of relocation to higher grounds.

hi HANDYMAN - I thought the thread would crop up again. This is discussed here:

http://www.thaivisa.com/forum/Sea-Levels-R...ng-t206915.html

[midas]

Sorry midas - the link you posted is not currently working. I can't comment.

pkrv, i think you have to admit now there is a real crisis in the making ?

The knock on effect of this latest PAD action will hit the condo market very hard ?

[pkrv]

Sorry midas - the link you posted is not currently working. I can't comment.

pkrv, i think you have to admit now there is a real crisis in the making ?

The knock on effect of this latest PAD action will hit the condo market very hard ?

Difficult to say - I mean the UK had tanks outside of Heathrow airport during the last terrorist crisis, nothing much happened in terms of the property market. Then we had foot and mouth some people were shown on TV in white wellington boots and coveralls - Killed the US tourist trade dead for a while especially in London. It apparently did not occur that London the equivalent size of New York and Bangkok doesn't have much agriculture, but there we go.

As to the Thai condominium market - Well unlike the UK (and maybe the US don't know) where the breakdown in the Fractional Reserve System now has the PM begging people to borrow money (and yes he is) Thailand is cash based, and condominiums are mostly bought by Thais.

I see a rosy future for Bangkok and a crap one for the west (until vested interests release us from the Fractional Reserve System which of course they will never do).

I am even more committed to Bangkok than ever before. At least they can demonstrate! We ‘educated’ westerners generally don’t even know where money comes from.

[midas]

Sorry midas - the link you posted is not currently working. I can't comment.

pkrv, i think you have to admit now there is a real crisis in the making ?

The knock on effect of this latest PAD action will hit the condo market very hard ?

Difficult to say - I mean the UK had tanks outside of Heathrow airport during the last terrorist crisis, nothing much happened in terms of the property market. Then we had foot and mouth some people were shown on TV in white wellington boots and coveralls - Killed the US tourist trade dead for a while especially in London. It apparently did not occur that London the equivalent size of New York and Bangkok doesn't have much agriculture, but there we go.

As to the Thai condominium market - Well unlike the UK (and maybe the US don't know) where the breakdown in the Fractional Reserve System now has the PM begging people to borrow money (and yes he is) Thailand is cash based, and condominiums are mostly bought by Thais.

I see a rosy future for Bangkok and a crap one for the west (until vested interests release us from the Fractional Reserve System which of course they will never do).

I am even more committed to Bangkok than ever before. At least they can demonstrate! We ‘educated’ westerners generally don’t even know where money comes from.

I think it's stretching it a little bit too much to compare what is happening right now in Thailand with the

last terrorist crisis in the UK or the foot and mouth incident. Forget about

superfluous issues such as the Fractional Reserve System -now there is a

growing feeling of discomfort and many people I don't think will be coming back

to this country for a long time.

Haven't you seen another thread in the general section where somebody asks

what would happen to foreigners in the event of Civil War?

It's a bit unnerving and before you instantly dismiss that possibility we're talking here

about a seriously divided country. Right now I have the comfort of knowing if things get

out of hand here I can pack my bags and leave without worrying about the ownership of anything here.

Edited November 28, 2008 by midas

[pkrv]

Midas - The point I was making was people react in the oddest and sometime most irrational ways to events - I guess that’s life.

We are farang/farang and to be honest appearing to be interfering in another countries sovereign issues would most likely be most unwelcome.

I suppose I could answer - well The Park overlooks the British Embassy grounds (and The Athenee is a stone’s throw away). Oddly this was a selling point for me, and not just because of the green space.

From an outsiders point of view the action that PAD have taken, if they win, can only serve to undermine the country’s political infrastructure possibly semi permanently. All that will happen is this will be repeated in reverse in years to come and violence will escalate. Thailand is a country struggling with the concept of democracy, let us face it power is in the hands of a few, who by their actions indicate scant regard for human life or indeed willingness to move with the times. It is why Thailand remains third world.

As I understand it during the Second World War Thailand, though not invaded, allowed in Japanese troops. They allowed the Japanese to do what they wished with the Western Farangs. Up until now I have seen no signs of organised violence towards westerners (though obviously there are always exceptions). That is probably the next thing to look for.

What you don't seem to understand is that I am committed regardless of outcome. If things go bad I would not sell because I probably could not sell. But I would not bother testing the market.

I took a risk based on a huge number of factors, and it was a risk. But then I paid peanuts for property. You are very precise and focus in on one thing at a time, I don't. If necessary I can wait.

The worst that could happen is that Thailand so weaken itself through internal conflict it opens itself up to invasion. At which point things would become very messy, from a property ownership point of view. That statement of course pales into insignificance in comparison with Thais brutally slaughtering other Thais.

If I were in Thai government, I would be undertaking TV 24 hour coverage all channels, with local interviews with Thai business owners on how the Thai people are being hurt by this action and openly stating if PAD subscribe to democracy they will have their chance at the next election.

What more can I say? It is wait and see is it not?

[pkrv]

midas - I am going to be very, very naughty and say - OK you rent - If civil war broke out how are you going to get out - by air? - Drive through a war torn country? - You are still in Thailand aren't you? - I think if what you fear comes to pass either predicament (renting or home ownership) become irrelevant, and you would be surprised at how fast the exits are closed in such situations (war or pending war).

Will you leave now/today?

[pkrv]

Hmm - just noticed this post

Evacuation plan hatched by EU

Germany to repatriate citizens stranded in Thailand starting tomorrow.

Reliable sources say the Republic of Germany has announced it will send aircraft to U-Tapao to evacuate its citizens.

It is understood that the EU will follow with a similar plan, reminiscent of the evacuation flights during the December 2004 tsunami that devastated Andaman coastal resorts in South Thailand.

The first flight from Germany should arrive tomorrow. A source said there are "literally thousands of European tourists still stranded

In the meantime LTU succeeded in flying its first group from Bangkok since the closure of Suvarnabhumi. It will operate daily flights from U-Tapao.

However, it is understood that it took LTU almost six hours to board passengers and depart due to technical and support shortcomings at the airport.

http://www.thaivisa.com/forum/State-Emerge...79#entry2363279

[midas]

midas - I am going to be very, very naughty and say - OK you rent - If civil war broke out how are you going to get out - by air? - Drive through a war torn country? - You are still in Thailand aren't you? - I think if what you fear comes to pass either predicament (renting or home ownership) become irrelevant, and you would be surprised at how fast the exits are closed in such situations (war or pending war).

Will you leave now/today?

WOW pkrv hold on a minute ! That is taking things out of context just a little.

A couple of weeks ago our discussion was confined to the advantages and disadvantages

of ownership vs. renting. You were somewhat intrigued by my motivations that I would only

ever rent my accommodation in this country for a number of reasons.

I was equally fascinated by the viewpoint that you feel you need to own the property you live in

to be able to maximize your enjoyment which I dont agree with.

Now you are talking about how successful I could be in making a quick getaway from this country

if necessary. If things got ugly guess I would head for one of the many land borders

such as Cambodia or Laos. I don't live in Bangkok and I can be at a land border very quickly.

How can you possibly say " I think if what you fear comes to pass either predicament (renting or home ownership) become irrelevant, "

It is certainly not irrelevant because the fundamental difference is if I left under such circumstances

I'm not leaving anything behind and i can return to my property assets in a safe

country that has rule of law. You on the other hand have invested in a condominium

in a city which is looking an increasingly unstable place in which to live let alone own any

assets. The best scenario is that the condo market will now suffer badly.......the worst

case scenario is that foreigners will have to leave quickly................

[pkrv]

Midas - Just in case here is the railway timetable from Bangkok to Butterworth

http://www.railway.co.th/english/images/N_S.pdf

Trains do depart on time and there are a lot of stops (more than are posted, and trains do not arrive on time). Don't know if you are on this line - But just in case - PKRV ];-)

So I take it you are not fleeing just yet? (BTW when I posted the PDF on the general forum I got all sorts of flood control warnings to my post! I am not kidding but it did go up)

[eljeque]

Back to the property crisis for a moment......

Try and sell any piece of property now.

Four years ago I sold a house by allowing the buyer to pay me 20% down, and finance the balance for 4 years at 7%.

I was about the only one out there who would do that.

I am now starting to receive emails from agents who have many of their clients offering a down payment and payments over three years for their houses.

In Pattaya, I also see developers anxiously looking for money to keep their buildings progressing as so many buyers are getting "cold feet".

This overbuilt city is finally starting to receive a wake-up call to which it is in no position to adjust. Anyone who thinks it has been difficult trying to sell a house for the past two years is about to see what difficult really is.

Rents will be dropping as well, as many renters will need to return to their home countries to work.

Many sellers, unable to sell, will finally offer their properties for rent and after surveying the going rental rates, will reluctantly offer their property at the market rate.

I know one agent who sold 40 condo units in one month a few months ago, but sold only three last month, and has no reason to see any positive changes coming his way.

I do not know about Phuket, Samui or Hua Hin, but property owners in Pattaya are in store for a lot of financial losses unless they picked up their properties at auction.

What Property Crisis? ... THIS PROPERTY CRISIS!! Only the blind cannot see it.

[pkrv]

Back to the property crisis for a moment......

Try and sell any piece of property now.

Four years ago I sold a house by allowing the buyer to pay me 20% down, and finance the balance for 4 years at 7%.

I was about the only one out there who would do that.

I am now starting to receive emails from agents who have many of their clients offering a down payment and payments over three years for their houses.

In Pattaya, I also see developers anxiously looking for money to keep their buildings progressing as so many buyers are getting "cold feet".

This overbuilt city is finally starting to receive a wake-up call to which it is in no position to adjust. Anyone who thinks it has been difficult trying to sell a house for the past two years is about to see what difficult really is.

Rents will be dropping as well, as many renters will need to return to their home countries to work.

Many sellers, unable to sell, will finally offer their properties for rent and after surveying the going rental rates, will reluctantly offer their property at the market rate.

I know one agent who sold 40 condo units in one month a few months ago, but sold only three last month, and has no reason to see any positive changes coming his way.

I do not know about Phuket, Samui or Hua Hin, but property owners in Pattaya are in store for a lot of financial losses unless they picked up their properties at auction.

What Property Crisis? ... THIS PROPERTY CRISIS!! Only the blind cannot see it.

This is very tricky stuff for us all. I think you are discussing Home/Land Ownership and Condominium ownership in

Farang/Farang

Farang/Thai

Land/House ownership

Condominium ownership

Condominium act

Freehold

Leasehold

Rental

Company ownership

Financial ability

Country of origin (FX issues)

Age

Ability to adapt

Kids/No Kids

Location: Bangkok, Hua Hin, Pattaya, Phuket, Hua Hin, Samui (and countless others)

AND MORE!

And in Bangkok - street - 100 meters/yards can make a difference.

But you speak mostly house ownership in Pattaya? I know nothing of this. The market is DEEPLY, DEEPLY segmented there is no correlation here in Thailand.

[imaneggspurt]

"There has been a property crisis here for 2 years."

And during those two years, the price of property has appreciated steadily. Oh wait a minute, that's NOT a crisis. Sorry!

Really ?,. well a friend of mine bought 2 years ago 2 houses, he now has them both for sale and will be glad to lose over 1 mill on one and 2 mill on the other, if you dont beleive me pm me and il give you the details both in pattaya and very nice properties under 3 mill each,another guy built one one the lake, owes him 3 mill ,it has been empty since built and for sale for 5mill, he wil take 2.2,they both want to cut their losses and return to the uk,

[midas]

"There has been a property crisis here for 2 years."

And during those two years, the price of property has appreciated steadily. Oh wait a minute, that's NOT a crisis. Sorry!

Really ?,. well a friend of mine bought 2 years ago 2 houses, he now has them both for sale and will be glad to lose over 1 mill on one and 2 mill on the other, if you dont beleive me pm me and il give you the details both in pattaya and very nice properties under 3 mill each,another guy built one one the lake, owes him 3 mill ,it has been empty since built and for sale for 5mill, he wil take 2.2,they both want to cut their losses and return to the uk,

There you go and because there is no transparency whatsoever in this market

it's only by gathering little snippets of information like this that you can build

a true picture. But there are those that will never stop kidding themselves

[Nouf]

Just out of interest, can anyone comment on the going average baht per sqm in central bangkok, asoke area, i know its dependent on address and soi etc, but i have recently noticed once again in the classifields a few "urgent need to sell" properties

it seems to vary from approx 55,000 per sq m to possible 75,000 per sqm, again depending on the condo building and area, ie i expect areas like chit lom to be more expensive in size due to location

are those figures correct or are my figures wrong, a couple of condos around the asoke road area soi 21 seem to imply that there are a few condo owners, looking to sell and prices that seem to be down on previous years

one example is this:

35sqm for 2.3 million bhat, yet you can get a 60sqm near phra-kanong for 2.8 million.

i guess having history one can compare previous average size dependent upoon area to the mean to see if there really is any forced sellers or if a stalemate has arrived.

lifestyle choices can in part decide a possible sell or buy, in fairness i actually think Bangkok is a great city to live in, and i have lived in a view around the world. so you cant really compare Pattaya or any other city to bangkok

try living in Caracus then you can be sure to know what problems are.

[pkrv]

"There has been a property crisis here for 2 years."

And during those two years, the price of property has appreciated steadily. Oh wait a minute, that's NOT a crisis. Sorry!

Really ?,. well a friend of mine bought 2 years ago 2 houses, he now has them both for sale and will be glad to lose over 1 mill on one and 2 mill on the other, if you dont beleive me pm me and il give you the details both in pattaya and very nice properties under 3 mill each,another guy built one one the lake, owes him 3 mill ,it has been empty since built and for sale for 5mill, he wil take 2.2,they both want to cut their losses and return to the uk,

There you go and because there is no transparency whatsoever in this market

it's only by gathering little snippets of information like this that you can build

a true picture. But there are those that will never stop kidding themselves

midas - I think they are called estate agents: off the cuff - please feel free to research.

http://www.hamptons.co.th/

Edited November 28, 2008 by pkrv

[midas]

midas - I think they are called estate agents: off the cuff - please feel free to research.

http://www.hamptons.co.th/

pkrv i really hope you are not that naive to believe the bullshit

those people feed you as being representative of what is really happening in the REAL market

that is like putting the fox in charge of guarding the hen house

Edited November 28, 2008 by midas

[pkrv]

[There you go and because there is no transparency whatsoever in this market

it's only by gathering little snippets of information like this that you can build

a true picture.

Midas do you deny me the Midas? (UK TV joke, watched for the first time in Bangkok recently) these are all snippets that we glue together are they not? - Though I suspect you do not think in this way?

[midas]

[There you go and because there is no transparency whatsoever in this market

it's only by gathering little snippets of information like this that you can build

a true picture.

Midas do you deny me the Midas? (UK TV joke, watched for the first time in Bangkok recently) these are all snippets that we glue together are they not? - Though I suspect you do not think in this way?

But not snippets from people who have a vested interest in portraying the market in a certain way?

They would never tell you to stop buying even when market circumstances would dictate

such a decision- even temporarily...............

there is only one believable source of information which provides a truly transparent

property market and that is a government-sponsored

public register which is open to the public ( even for a small fee ) showing ACTUAL

sales transaction figures- there is nothing like this available in Thailand

and even if you got hold of some information it would have usually been

manipulated for tax purposes-it's crap

[quiksilva]

[There you go and because there is no transparency whatsoever in this market

it's only by gathering little snippets of information like this that you can build

a true picture.

Midas do you deny me the Midas? (UK TV joke, watched for the first time in Bangkok recently) these are all snippets that we glue together are they not? - Though I suspect you do not think in this way?

But not snippets from people who have a vested interest in portraying the market in a certain way?

They would never tell you to stop buying even when market circumstances would dictate

such a decision- even temporarily...............

there is only one believable source of information which provides a truly transparent

property market and that is a government-sponsored

public register which is open to the public ( even for a small fee ) showing ACTUAL

sales transaction figures- there is nothing like this available in Thailand

and even if you got hold of some information it would have usually been

manipulated for tax purposes-it's crap

Well said Midas, this is a very opaque market.

I'm sure most land owners are thankful for this as the limited availability of information, means that this market has less price volatility than the mature markets like say UK or Australia, where values can plummet 30% in a month. However this has a consequence too, as it also means that property is an especially inelastic investment class here, which is obviously not good if you are seller looking to dispose of property assets in a hurry, but if you can bide your time and hold on, it can work in your favour too (assuming you did your homework well when deciding on where to purchase).

[midas]

Well said Midas, this is a very opaque market.

I'm sure most land owners are thankful for this as the limited availability of information, means that this market has less price volatility than the mature markets like say UK or Australia, where values can plummet 30% in a month. However this has a consequence too, as it also means that property is an especially inelastic investment class here, which is obviously not good if you are seller looking to dispose of property assets in a hurry, but if you can bide your time and hold on, it can work in your favour too (assuming you did your homework well when deciding on where to purchase).

quiksilva so at least we agree on this subject

You see this attitude by the Thai's is prevalent in so many synergistic areas as well. Years ago they could get away with

explaining the lack of public information of this kind by claiming they were still a " disadvantaged

developing economy " but now in the age of technology they can no longer explain this away so easily.

Australia has already donated a substantial amount of money and expertise to Thailand

to help them upgrade their land title system which I understand is now mostly computerised.

But take the rental deposit scheme and the way so many expats are regularly cheated out of their

deposit money because of the lack of any government intervention. What would stop them

from having a rental deposit scheme which is held in trust by a government agency?

Services like this would not only show that Thailand is serious about having a transparent investment market in is all spheres

but it could also charge money for the services as government agencies in most other countries

do now. It would then provide further employment opportunities to young Thai people.

Instead of this we have this perpetual state of chaos and murkiness and it is as if Thailand

chooses to perpetuate this for the benefit of those in high places- but how many more

decades can they go on claiming economic disadvantage

if they cannot even put in place a decent property information system? Can you imagine Singapore

settling for this kind of system?

That's why I wouldn't touch it

with a barge pole.

[quiksilva]

They do have such a system for deposits Midas, the new escrow law was brought into effect in may this year. Although as with any western market, its not mandatory, so both parties have to agree to use and pay for it, and of course escrow agents(i.e. Banks) charge a fairly pretty sum for their services, so nobody bothers.

I can assure you that the property information system in Thailand is far from computerised. They may have done some mapping on computer, but the records are not computerised. Stepping into the back office of any land department is like stepping back in time to the 1940's.

To give you an idea, to identify a title you point it out on the cadastral map and then look up the corresponding title in the physical records, you then must sift through the physical file for the information that you require.

The REIC is a step towards a more transparent lands registry but it is still a world away from being useful and only has access to high level numbers and basic research facilities.

To computerise the lands registry would be a very time consuming and expensive task that would result in a more transparent and thus volatile property market, which goes against everything the powerful land owners hold dear.

You see, what is widely known but seldom discussed is that the wealth of this country is propped up by the practice of land banking, so it is imperative (in their eyes) that land values must remain stable.

So whilst a transparent market would help the market function more efficiently, it will not be allowed to happen anytime soon.

PS Midas I for one would love a more volatile market with great upswings and downswings, what I can not abide is long periods of no activity, which is what I fear we may be entering. This is far worse than a crashing market, corrections are healthy.

This is why I try not to take partisan lines on the topic of whether the market is good or bad, I prefer to stay as objective as possible.

Edited December 2, 2008 by quiksilva

[imaneggspurt]

Quick question, does anyone know any foreigner that has bought a property in thailand in the last 3 months with money from overseas ?,. what with the economy and exchange rate id be most surprised,.

[think_too_mut]

Quick question, does anyone know any foreigner that has bought a property in thailand in the last 3 months with money from overseas ?,. what with the economy and exchange rate id be most surprised,.

Is there a choice?

In own name, a foreigner MUST buy using money from overseas, even if working and living in Thailand and sending money abroad and then wiring it back for condo purchase.

[imaneggspurt]

Quick question, does anyone know any foreigner that has bought a property in thailand in the last 3 months with money from overseas ?,. what with the economy and exchange rate id be most surprised,.

Is there a choice?

In own name, a foreigner MUST buy using money from overseas, even if working and living in Thailand and sending money abroad and then wiring it back for condo purchase.

yes, i know, but my question was has anyone ?

[think_too_mut]

Quick question, does anyone know any foreigner that has bought a property in thailand in the last 3 months with money from overseas ?,. what with the economy and exchange rate id be most surprised,.

Is there a choice?

In own name, a foreigner MUST buy using money from overseas, even if working and living in Thailand and sending money abroad and then wiring it back for condo purchase.

yes, i know, but my question was has anyone ?

No, your question was to forget foreigners who did not buy by money from overseas (as it was possible at all) and only those who did to come up.

I regret I don't qualify to answer your question - I bought with money from abroad in July, 5 months ago, not 3 months as you insist.

dam_n. A$ was 32B, now is 22B.

[GarryP]

Back to the property crisis. I have no interest in condominiums but am interested in buying a house. Have been looking around for two years now and can say that prices have increased by about 20 to 30 percent in that period in the second hand property market in Bangkok. Have yet to see any downward movement in pricing although I expect that we will see that happen in around March or April.

I do not think that new properties that were being built over the past couple of years or so can come down much in the way of price as the high prices were in part as a result of high construction material costs. Just my two Baht's worth.

[imaneggspurt]

Quick question, does anyone know any foreigner that has bought a property in thailand in the last 3 months with money from overseas ?,. what with the economy and exchange rate id be most surprised,.

Is there a choice?

In own name, a foreigner MUST buy using money from overseas, even if working and living in Thailand and sending money abroad and then wiring it back for condo purchase.

yes, i know, but my question was has anyone ?

No, your question was to forget foreigners who did not buy by money from overseas (as it was possible at all) and only those who did to come up.

I regret I don't qualify to answer your question - I bought with money from abroad in July, 5 months ago, not 3 months as you insist.

dam_n. A$ was 32B, now is 22B.

A lot will have bought in the wifes name as we know, i actually sold 5 months ago and consider myself very lucky,.there are some terrific bargains around right now,however im in no hurry to buy again,.

[kaxper]

Quick question, does anyone know any foreigner that has bought a property in thailand in the last 3 months with money from overseas ?,. what with the economy and exchange rate id be most surprised,.

Is there a choice? In own name, a foreigner MUST buy using money from overseas, even if working and living in Thailand and sending money abroad and then wiring it back for condo purchase.

yes, i know, but my question was has anyone ?

on this issue, actually, as a foreigner you SHOULD transfer money from overseas into non-resident account in Thailand ... this actually protects you because in the future you sell and want to transfer monies out, the transfer will be much easier if you show BoT that the condo was purchased using off-shore funds (into a non-resident account), and thus you can repatriate this monies (profit or not) upon proof of condo sale. if you don't have the proof of incoming funds to purchase condo, then you have to find a more creative way of repatriating the condo sale proceeds out.

[donx]

Quick question, does anyone know any foreigner that has bought a property in thailand in the last 3 months with money from overseas ?,. what with the economy and exchange rate id be most surprised,.

Is there a choice?

In own name, a foreigner MUST buy using money from overseas, even if working and living in Thailand and sending money abroad and then wiring it back for condo purchase.

yes, i know, but my question was has anyone ?

No, your question was to forget foreigners who did not buy by money from overseas (as it was possible at all) and only those who did to come up.

I regret I don't qualify to answer your question - I bought with money from abroad in July, 5 months ago, not 3 months as you insist.

dam_n. A$ was 32B, now is 22B.

A lot will have bought in the wifes name as we know, i actually sold 5 months ago and consider myself very lucky,.there are some terrific bargains around right now,however im in no hurry to buy again,.

While your personal exchange rates may not be that good, the exchange rate for me is actually better than it has been in a while. I'm from the US and a baht rate of ~35B to the dollar is about what it was when I sent money over in June of last year. So while those of you from Europe or Australia may not find the exchange rates to your advantage, the exchange rate for US citizens is not that bad.

[pkrv]

Quick question, does anyone know any foreigner that has bought a property in thailand in the last 3 months with money from overseas ?,. what with the economy and exchange rate id be most surprised,.

Is there a choice?

In own name, a foreigner MUST buy using money from overseas, even if working and living in Thailand and sending money abroad and then wiring it back for condo purchase.

yes, i know, but my question was has anyone ?

No, your question was to forget foreigners who did not buy by money from overseas (as it was possible at all) and only those who did to come up.

I regret I don't qualify to answer your question - I bought with money from abroad in July, 5 months ago, not 3 months as you insist.

dam_n. A$ was 32B, now is 22B.

A lot will have bought in the wifes name as we know, i actually sold 5 months ago and consider myself very lucky,.there are some terrific bargains around right now,however im in no hurry to buy again,.

While your personal exchange rates may not be that good, the exchange rate for me is actually better than it has been in a while. I'm from the US and a baht rate of ~35B to the dollar is about what it was when I sent money over in June of last year. So while those of you from Europe or Australia may not find the exchange rates to your advantage, the exchange rate for US citizens is not that bad.

I concur - We here on Thai Visa use the English language to communicate - however we are not all in the same boat - In the UK for the moment we are having problems we are down from 75 to the deeply troubled (but not indebted) THB at about 50 ish.

So politics in Thailand, vs. Economic policy in GREAT BRITAN, well great, transferring over cash today is a no, no.