Thai Property Assets Becoming Unsaleable

[think_too_mut]

A general comment such as "Thai Property assets becoming unsaleable" is in itself illogical. Anything is saleable.....at a price.

Is it?

Take a GM car for example. After GM has failed, the second hand car becomes unseleable scrap.

Or, imagine a 12mil Thong Lor apartment (that's your LOCATION) reduced to 8 million baht. Assuming agents accept such a drag in price that will enrage every owner in the building, the "anything is saleable" will still sit for decades on market.

As for renting the place: individuals would go up to 30-40K baht out of their own pocket. When companies pay rent for their staff, it's 100K +.

The place in the example would be in 60-80K rental range.

So, our already unsaleable place becomes now unrentable too.

One would be lucky to walk away without continuing to pay levies on it.

Edited November 29, 2008 by think_too_mut

[london]

...there are posts saying [Thai assets] are on the verge of collapse or that no-one will want them in the future.

As a person ...holding a number of properties here in Thailand...and holding equities in the SET, I must say that I do not see things as being as bad as others may.

I guess that 50% drop in the SET in the past year was all in our imagination, and doesn't qualify as a "crash" in price

I said "I do not see things as being as bad as others may".

I mentioned nothing about the SET apart from the fact that I hold equity positions in a number of stocks. I did NOT say anything about a "crash" in prices...(look at other bourses around the globe and they are not that dissimilar)....so I fail to see what relevance that has to what I wrote.

If you are going to comment....at least read what has been said.

[london]

A general comment such as "Thai Property assets becoming unsaleable" is in itself illogical. Anything is saleable.....at a price.

Is it?

Take a GM car for example. After GM has failed, the second hand car becomes unseleable scrap.

Or, imagine a 12mil Thong Lor apartment (that's your LOCATION) reduced to 8 million baht. Assuming agents accept such a drag in price that will enrage every owner in the building, the "anything is saleable" will still sit for decades on market.

As for renting the place: individuals would go up to 30-40K baht out of their own pocket. When companies pay rent for their staff, it's 100K +.

The place in the example would be in 60-80K rental range.

So, our already unsaleable place becomes now unrentable too.

One would be lucky to walk away without continuing to pay levies on it.

A lot of "IFs" here....but, let take them one by one:

IF GM fails, there cars will still be saleable...in fact, many may become COLLECTABLE as others have from other failed car manufacturers over the years.

But if you are saying that a 2 y/o Pontiac or a 3 y/o Caddi will be FREE...dream on !!

Your second theory: "a 12mil Thong Lor apartment (that's your LOCATION) reduced to 8 million baht"...is flawed:

At 8 million it is still saleable !!! (at 10 baht it is still saleable)

I think that we need to agree on the term UNSALEABLE...It means that something CANNOT BE SOLD AT ANY PRICE !!

[think_too_mut]

A general comment such as "Thai Property assets becoming unsaleable" is in itself illogical. Anything is saleable.....at a price.

Is it?

Take a GM car for example. After GM has failed, the second hand car becomes unseleable scrap.

Or, imagine a 12mil Thong Lor apartment (that's your LOCATION) reduced to 8 million baht. Assuming agents accept such a drag in price that will enrage every owner in the building, the "anything is saleable" will still sit for decades on market.

As for renting the place: individuals would go up to 30-40K baht out of their own pocket. When companies pay rent for their staff, it's 100K +.

The place in the example would be in 60-80K rental range.

So, our already unsaleable place becomes now unrentable too.

One would be lucky to walk away without continuing to pay levies on it.

A lot of "IFs" here....but, let take them one by one:

IF GM fails, there cars will still be saleable...in fact, many may become COLLECTABLE as others have from other failed car manufacturers over the years.

It's actually what you can read in The Economist.

Consumer surveys that suggest that 80-90% of prospective customers would abandon the products of a carmaker that had filed for bankruptcy protection. When airlines went into Chapter 11, most of their passengers stuck with them, reasoning they would be at least be in business long enough for tickets bought for trips just a few weeks away to be honoured.

Cars are different. A car is the most expensive purchase many consumers make, and by buying a car they also enter into a long-term contract. Buyers expect their 60,000-mile warranties to be honoured, parts to be kept supplied and their dealers not to have disappeared. Used-car values are also a critical part of the deal. If the firm that made the car has gone bust, it becomes virtually unsellable secondhand

Your second theory: "a 12mil Thong Lor apartment (that's your LOCATION) reduced to 8 million baht"...is flawed:

At 8 million it is still saleable !!! (at 10 baht it is still saleable)

Yours is rather flawed: you watch what people around are asking and dreaming to get, not actual transactions that are rare and far apart.

Of course it it sellable: only if someone would give a toss for it.

Edit: if you put that 12 mil condo for 8 mil sale, when it comes to the legalities the authorities would suspect money laundering or tax evasion, so it would not work.

Let alone "any price", for example 1 mil baht. Now what? How do you sell it without bribing the authorities to let you lose on the sale?

Edited December 1, 2008 by think_too_mut

[midas]

At 8 million it is still saleable !!! (at 10 baht it is still saleable)

I think that we need to agree on the term UNSALEABLE...It means that something CANNOT BE SOLD AT ANY PRICE !!

This discussion seems quite bizarre at this point in time when there are people dressed in

red and yellow T-shirts wandering around Bangkok shooting and maiming each other

with many foreigners fearful for their own safety!

Yes I think there could very well be a substantial increase in the number of condominiums

right now that are not salable at any price

[thaihome]

At 8 million it is still saleable !!! (at 10 baht it is still saleable)

I think that we need to agree on the term UNSALEABLE...It means that something CANNOT BE SOLD AT ANY PRICE !!

This discussion seems quite bizarre at this point in time when there are people dressed in

red and yellow T-shirts wandering around Bangkok shooting and maiming each other

with many foreigners fearful for their own safety!

Yes I think there could very well be a substantial increase in the number of condominiums

right now that are not salable at any price

What is truly bizarre is what would possibly motivate you to make such a rash, inaccurate, lurid post. There are not people shooting each other in the streets of Bangkok and any foreigner that is fearful of their own safety is downright stupid.

TH

[MeetJohnDoe]

I said "I do not see things as being as bad as others may".

I did NOT say anything about a "crash" in prices...(look at other bourses around the globe and they are not that dissimilar)....so I fail to see what relevance that has to what I wrote.

I am sorry...I did misquote you.

You noted that many opine on TV that Thai assets will/have "collapse[d]." and that you disagreed with this assessment. You wrote things didn't seem so bad, therefore, I drew the conclusion that you didn't consider the 50% drop in the SET during the past year to be a collapse. I think most would beg to differ.

[midas]

What is truly bizarre is what would possibly motivate you to make such a rash, inaccurate, lurid post. There are not people shooting each other in the streets of Bangkok and any foreigner that is fearful of their own safety is downright stupid.

TH

And whatever would motivate you to make such a naive post ............?

US OR THEM

Yellow, red camps bring country closer to the brink

By The Nation Mon, December 1, 2008 :

Sporadic lawlessness spreading on both sides of conflict as Thailand is named "one of most dangerous places on earth"

Sporadic mob rules have threatened to take on a far larger scale this weekend, with protesters on both sides of the political showdown showing less and less respect for the rule of law and human rights.

After the Suvarnabhumi and Don Muang airports have fallen to the yellow-shirt People's Alliance for Democracy, now the Constitution Court is in danger of being surrounded by red-shirt pro-government protesters and nobody knows what is going to happen if the court on Tuesday decides to disband three ruling parties.

Equally worrisome are minor incidents across the country. Vendors watching ASTV have been intimidated by red-shirt people. PAD protesters have fired on a reporter's car, although that was described as a mistake (the car was mistaken as that of assailants). Southern anti-government protesters have threatened to seize provincial halls in all 14 southern provinces if a crackdown was initiated against Suvarnabhumi protesters.

Prime Minister Somchai yesterday took a pilgrimage to pay respect to a Buddhist holy site in Nakhon Phanom while redshirt crowds have threatened to become vigilantes to punish yellowshirt protesters.

In Chiang Mai, several pickup trucks filled with progovernment crowds were driven to a number of crowded public places rousing the people to take the law into their hands and attack the yellowshirt protesters and their supporters.

In the message, people have been encouraged to identify and shut down businesses and shops run by or linked to the protesters led by the People's Alliance for Democracy.

On Friday's night, a number of redshirt men forced a noodle vendor at Nong Hoy market to close down on the ground for watching the antigovernment programmed aired by ASTV satellite station.

Between Friday and yesterday, redshirt crowds distributed flyers in English to foreign visitors criticising the seizure of two major airports at Don Mueang and Suvarnabhumi.

Speaking in the capital, Democrat Party spokesman Buranat Samutarak warned that the chance for a negotiated settlement was fast diminishing as time dragged on.

The country is heading for unprecedented violence and bloodshed, he said.

He called for Interior Minister Kowit Watana, who is in charge of crowd control, to quickly commence negotiations with the PAD before it was too late.

He went on to criticise former prime minister Thaksin Shinawatra for resuming his political activities which have in turn inflamed the situation.

The situation might turn into a violent mayhem following yesterday's rally by the redshirt crowds at Sanam Luang, he said.

In Udon Thani, about 10,000 redshirt crowds rallied to support the government and safeguard Somchai during his overnight stay, organiser Kwanchai Praipana said.

Kwanchai said each northeaster constituency would mobilise about 20,000 people to rally in Bangkok on Tuesday in order to oppose the anticipated disbandment of the ruling party.

He called on the government to allow redshirt crowds to disperse the yellowshirt protesters if police failed to do their job.

Two MPs from Lop Buri, Suchart Lainamngern and Amnuay Klangpha, predicted that more than 100,000 redshirt crowds would turn out to rally by Tuesday in order to counter the PADled protests.

The PAD has, meanwhile, been mobilising the protesters from the 14 southern provinces to reinforce the antigovernment crowds at the three rally sites, Government House, Don Mueang and Suvarnabhumi.

PAD's Nakhon Si Thammarat chapter leader Osoth Suwansawaet said each local chaper was responsible for dispatching 200300 protesters daily to the three rally sites.

Osoth said PADled protesters were fully braced for crowd dispersal measures and would fight if redshirt crowds descended on them.

He threatened to seize every provincial hall and block interprovincial roads in the South if police cracked down on protesters at the two airports.

Nakhon Si Thammarat governor Panu Uthairat and his counterpart in Songkhla Sonthi Techanan said they had taken precautionary measures to preempt any attempts to blockade provincial halls.

Government spokesman Natthawut Saikua said it was evident from news clips that PADled protesters were armed and tried to attack unarmed police.

"Armed protesters should immediately stop violent attacks against the unarmed authorities," he said.

He said the prime minister and his government have remained fully functioning although the situation has to be reassessed on a daily basis.

The Tuesday's Cabinet meeting is expected to proceed but the venue has yet to be picked, he said.

The governmentsponsored meritmaking ceremony is on track for Tuesday although it is uncertain whether Prime Minister Somchai will leave Chiang Mai to personally chair the event, he said.

Somchai remains uncertain whether he can attend ceremonies relating to His Majesty's birthday, he added.

He insisted that the government refused to step down either by resigning or by House dissolution because this would tantamount to allowing the victory to the PAD.

Meanwhile, The Telegraph newspaper website, www.telegraph.co.uk, has named Thailand as one of the world's most dangerous countries, alongside Iraq, Afghanistan, Chechnya, South Africa, Jamaica, Sudan, Colombia, Haiti, Eritrea, Democratic Republic of Congo, Liberia, Pakistan, Burundi, Nigeria, Zimbabwe, India, Mexico, Isarel and the Occupied Palestinian Territories, and Lebanon.

Wrote Francisca Kellett who compiled the list:

"Major political demonstrations and a temporary state of emergency have affected both of Bangkok's airports. The area around Government House and nearby Ratchadamnoen "Nok" Road, including the area around Metropolitan Police headquarters and Parliament should be avoided. Fighting also broke out last month on the Cambodian border at Preah Vihear and tensions remain high. Civil unrest and frequent attacks continue in the southern provinces of Pattani, Yala, Narathiwat and Songkhla - the Foreign Office advises against all but essential travel to these areas."

[pkrv]

Err.. think_too_mut. This has got to be one of the silliest threads yet - how on earth can you compare GM motors to Thai freehold property.

A car (at which price much of Thai property is available) will turn to rust and you may have to pay to take it away.

Freehold property and land as is possible via the condominium route sort of does not rust. OK there are problems today but quite frankly they are also just about everywhere.

Even if Thailand disolves into civil war, contracts remain. They will not be allowed to rejoin the global market place if personal property has been stolen. This is an aspect of international law - If things go THAT badly just hand the land ownership deeds bearing the Kings crest/seal onto your choice of individual/next of kin/children/nephews or nieces. Things will eventually return to normal - if it gets that bad, but not necessarilly in you lifetime.

The rest of this stuff is now getting even sillier.

Edited December 1, 2008 by pkrv

[think_too_mut]

Err.. think_too_mut. This has got to be one of the silliest threads yet - how on earth can you compare GM motors to Thai freehold property.

A car (at which price much of Thai property is available) will turn to rust and you may have to pay to take it away.

?

At 150K baht sqm. Then 100+ sqm property is about 25 times GM jalopy when new.

It was about the philosophers's "anything is sellable" theory. That's how cars came into this thread.

[think_too_mut]

Even if Thailand disolves into civil war, contracts remain. They will not be allowed to rejoin the global market place if personal property has been stolen. This is an aspect of international law

Brrrr, said the PAD gang reactionaries.

They care about law and international community as much as next door Burmese junta does.

Edited December 1, 2008 by think_too_mut

[think_too_mut]

There are not people shooting each other in the streets of Bangkok

I was in BKK when pics like this (this one is PAD kicking DAAD rival, after detaining him at Suvarnabhumi) were circulating around the world while I was minding my own business and noticed nothing.

Today, in BKK post is says "Singapore adds 13 daily flights for evacuation".

Perhaps different meaning, it's not fall of Saigon (yet) but it contributes to further erosion of fastly disappearting confidence.

Edited December 1, 2008 by think_too_mut

[thaihome]

From personal experiences, it should be noted that virtually every "evacuation" flight landing at U-Tapao is full of inbound passengers.

TH

[thaihome]

What is truly bizarre is what would possibly motivate you to make such a rash, inaccurate, lurid post. There are not people shooting each other in the streets of Bangkok and any foreigner that is fearful of their own safety is downright stupid.

TH

And whatever would motivate you to make such a naive post ............?

US OR THEM

Yellow, red camps bring country closer to the brink

By The Nation Mon, December 1, 2008 :

Sporadic lawlessness spreading on both sides of conflict as Thailand is named "one of most dangerous places on earth"

Sporadic mob rules have threatened to take on a far larger scale this weekend, with protesters on both sides of the political showdown showing less and less respect for the rule of law and human rights.

After the Suvarnabhumi and Don Muang airports have fallen to the yellow-shirt People's Alliance for Democracy, now the Constitution Court is in danger of being surrounded by red-shirt pro-government protesters and nobody knows what is going to happen if the court on Tuesday decides to disband three ruling parties.

Equally worrisome are minor incidents across the country. Vendors watching ASTV have been intimidated by red-shirt people. PAD protesters have fired on a reporter's car, although that was described as a mistake (the car was mistaken as that of assailants). Southern anti-government protesters have threatened to seize provincial halls in all 14 southern provinces if a crackdown was initiated against Suvarnabhumi protesters.

Prime Minister Somchai yesterday took a pilgrimage to pay respect to a Buddhist holy site in Nakhon Phanom while redshirt crowds have threatened to become vigilantes to punish yellowshirt protesters.

In Chiang Mai, several pickup trucks filled with progovernment crowds were driven to a number of crowded public places rousing the people to take the law into their hands and attack the yellowshirt protesters and their supporters.

In the message, people have been encouraged to identify and shut down businesses and shops run by or linked to the protesters led by the People's Alliance for Democracy.

On Friday's night, a number of redshirt men forced a noodle vendor at Nong Hoy market to close down on the ground for watching the antigovernment programmed aired by ASTV satellite station.

Between Friday and yesterday, redshirt crowds distributed flyers in English to foreign visitors criticising the seizure of two major airports at Don Mueang and Suvarnabhumi.

Speaking in the capital, Democrat Party spokesman Buranat Samutarak warned that the chance for a negotiated settlement was fast diminishing as time dragged on.

The country is heading for unprecedented violence and bloodshed, he said.

He called for Interior Minister Kowit Watana, who is in charge of crowd control, to quickly commence negotiations with the PAD before it was too late.

He went on to criticise former prime minister Thaksin Shinawatra for resuming his political activities which have in turn inflamed the situation.

The situation might turn into a violent mayhem following yesterday's rally by the redshirt crowds at Sanam Luang, he said.

In Udon Thani, about 10,000 redshirt crowds rallied to support the government and safeguard Somchai during his overnight stay, organiser Kwanchai Praipana said.

Kwanchai said each northeaster constituency would mobilise about 20,000 people to rally in Bangkok on Tuesday in order to oppose the anticipated disbandment of the ruling party.

He called on the government to allow redshirt crowds to disperse the yellowshirt protesters if police failed to do their job.

Two MPs from Lop Buri, Suchart Lainamngern and Amnuay Klangpha, predicted that more than 100,000 redshirt crowds would turn out to rally by Tuesday in order to counter the PADled protests.

The PAD has, meanwhile, been mobilising the protesters from the 14 southern provinces to reinforce the antigovernment crowds at the three rally sites, Government House, Don Mueang and Suvarnabhumi.

PAD's Nakhon Si Thammarat chapter leader Osoth Suwansawaet said each local chaper was responsible for dispatching 200300 protesters daily to the three rally sites.

Osoth said PADled protesters were fully braced for crowd dispersal measures and would fight if redshirt crowds descended on them.

He threatened to seize every provincial hall and block interprovincial roads in the South if police cracked down on protesters at the two airports.

Nakhon Si Thammarat governor Panu Uthairat and his counterpart in Songkhla Sonthi Techanan said they had taken precautionary measures to preempt any attempts to blockade provincial halls.

Government spokesman Natthawut Saikua said it was evident from news clips that PADled protesters were armed and tried to attack unarmed police.

"Armed protesters should immediately stop violent attacks against the unarmed authorities," he said.

He said the prime minister and his government have remained fully functioning although the situation has to be reassessed on a daily basis.

The Tuesday's Cabinet meeting is expected to proceed but the venue has yet to be picked, he said.

The governmentsponsored meritmaking ceremony is on track for Tuesday although it is uncertain whether Prime Minister Somchai will leave Chiang Mai to personally chair the event, he said.

Somchai remains uncertain whether he can attend ceremonies relating to His Majesty's birthday, he added.

He insisted that the government refused to step down either by resigning or by House dissolution because this would tantamount to allowing the victory to the PAD.

Meanwhile, The Telegraph newspaper website, www.telegraph.co.uk, has named Thailand as one of the world's most dangerous countries, alongside Iraq, Afghanistan, Chechnya, South Africa, Jamaica, Sudan, Colombia, Haiti, Eritrea, Democratic Republic of Congo, Liberia, Pakistan, Burundi, Nigeria, Zimbabwe, India, Mexico, Isarel and the Occupied Palestinian Territories, and Lebanon.

Wrote Francisca Kellett who compiled the list:

"Major political demonstrations and a temporary state of emergency have affected both of Bangkok's airports. The area around Government House and nearby Ratchadamnoen "Nok" Road, including the area around Metropolitan Police headquarters and Parliament should be avoided. Fighting also broke out last month on the Cambodian border at Preah Vihear and tensions remain high. Civil unrest and frequent attacks continue in the southern provinces of Pattani, Yala, Narathiwat and Songkhla - the Foreign Office advises against all but essential travel to these areas."

Nothing in what you posted supports your statement that “people are shooting each other in the streets of Bangkok”. Certainly there is a potential for conflicts were opposing groups come into contact, something that, on the whole, everyone is trying to avoid.

Do you live in Bangkok? Have you seen any shootings or confrontations that have made you fearful of yours safety?

[nemo38]

This is a really interesting discussion with a lot of thought provoking points.

For the property market in Thailand a lot of factors are in play. You have institutional investors as well as individuals. Institutions may be forced to pull their money out because of calls on their money back home. They may also like the high value of the Baht compared to their home currency. There looks to be a big down side risk to the Baht. It may be worth dropping the sale price now to lock in a value in a foreign currency. Individuals from the UK may want to sell their property in Thailand for a lower price for the same reason. Especially if they are interested in picking up property in the UK (but I think the UK market won't recover for years).

It isn't an inevitable law of the universe that property will be a good investment during a given period. I mean that there may be situations where your money will be more valuable elsewhere. I wouldn't buy now in Thailand because I think there will be opportunities following a crash in the currency and also a general slump in the housing market. I think that the Thais may also ease restrictions on foreign ownership to try to bring up their housing market and their economy in general. If I had property in Thailand and I wasn't interested in staying for the long run I'd sell right now before the currency tanks and the market goes into free fall.

Obviously a lot of people are here for the long term. So they may not be bothered about the notional value of their property right now.

If GM and the other US car makers go under I expect they will be taken over by Japanese car makers. Japanese car makers are facing difficult times (except Honda) but the US government would make the deal so attractive that the Japs would jump in to take over the future US car market. The US government can't allow those US jobs to be lost unless the whole US economy goes into a melt down.

This morning one analyst on TV predicted the collapse of the US dollar. According to the Analyst the US dollar is high now because of a flight to safety. He said that the administration is trying to spend its way out of recession but this wouldn't be possible due to unsupportable levels of debt. His prediction was that holders of US denominated assets would start to cash those assets in as the recession deepened starting another round of institutional collapses (like the sub prime crisis) but much deeper. He predicted recovery from 2011 to 2017 but most likely 2013.

I feel sorry for people facing a financial crisis at the moment. Luckily I'm a lazy bugger who couldn't decide where to stick his cash over the past five years. I mainly have my money in pounds (unlucky considering its drop) and dollars (which is what I'm trying to spend now.) I only had $200 in shares sitting in my brokerage account when the crisis hit. These were shares generated when companies I owned merged/split etc.

BTW, I think that Malysia confiscated all foreign assets during the 1980s. If there was civil unrest and a radical new government it could happen in Thailand. It may be a popular move for a new government. Foreign governments have their own problems so they may not do anything about it. Think the Thais aren't crazy enough to do it?

Good luck to everyone!

[dotcom]

If the four horse men of the apocalypse were to try to cease (a condominium) what I have in Thailand, I would fight, to keep what I have.

Care to rephrase that so as to make it understandable?

[midas]

Nothing in what you posted supports your statement that “people are shooting each other in the streets of Bangkok”. Certainly there is a potential for conflicts were opposing groups come into contact, something that, on the whole, everyone is trying to avoid.

Do you live in Bangkok? Have you seen any shootings or confrontations that have made you fearful of yours safety?

thaihome if it is that important for you to dissect the accuracy of my statement, then I suggest you go out and talk to

a few Thai people as to what is really happening? Even the BBC cannot get close to some of the events between the grass-root

yellow shirts versus the redshirts. I can assure you sir without any shadow of a doubt that guns are being used

by both camps in the middle of the night. Admittedly in many cases they are being fired for scare tactics.

Your statement " there is a potential for conflicts " is baffling-so what about the BBC news this morning,

" A blast has killed at least one Thai anti-government protester and wounded 22 others at Bangkok's Don

Mueang airport, emergency officials have said "- Don Mueang is situated in Bangkok is it not?

So how do you classify lobbying a grenade? Do you any regard this action as only being

" a potential for conflict" ?

No I certainly did not live in Bangkok but I know a number of Thai people including one in the travel

industry who has told me she has been speaking to many anxious and fearful foreigners wanting to

escape from this place as soon as possible.

I don't know what more to say to you - you can choose to believe whatever makes you feel most comfortable

[think_too_mut]

From personal experiences, it should be noted that virtually every "evacuation" flight landing at U-Tapao is full of inbound passengers.

TH

Hard to imagine that:

Bangkok stand-off: Hercules set to rescue stranded Kiwis

Bangkok bomb blast puts heat on proposed rescue plan

The Government will decide within 48 hours whether it needs to send a military transport aircraft to Thailand to rescue up to 300 stranded New Zealanders, Prime Minister John Key said today.

The C130 Hercules leaves tonight for Singapore or Malaysia where it will be within a few hours flying time of Thailand's U-Tapao military airbase, about 150km east of Bangkok.

Full article - NZ Herald

[pkrv]

If the four horse men of the apocalypse were to try to cease (a condominium) what I have in Thailand, I would fight, to keep what I have.

Care to rephrase that so as to make it understandable?

Sure. The above countered those who seem to make the assumtion that all those who buy in Thailand wish to sell, and are going to be hurt. This is simply not true. The only way I could lose my property would be if it were to be ceased. At which point I would begin the following process:

Lodge a formal complaint with the UK goverment

Start up a user group to gather all people who were impacted together.

Compare notes and act in unison. (using all means at disposal, newspapers, media, web etc)

Inother words fight to keep what I have. It is completly the opposite view to some on this forum regarding Thai property. Does that help?

[midas]

pkrv, are not addressing something which nemo38 refers to above in post number 45?

" BTW, I think that Malysia confiscated all foreign assets during the 1980s. If there was civil

unrest and a radical new government it could happen in Thailand. It may be a popular move for

a new government. Foreign governments have their own problems so they may not do anything

about it. Think the Thais aren't crazy enough to do it? "

What would you do go out on the streets of Chitlom to fight them off?

Your statement regarding " Lodge a formal complaint with the UK goverment "

- do you really think based on them having closed down 2 airports for seven days that these

people give a dam_n about foreigners who had the dam_n audacity to buy property

in their country in the first place?

[thaihome]

...I don't know what more to say to you - you can choose to believe whatever makes you feel most comfortable

I will believe what my eyes tell me as I look out the window of my high rise office on Rachadapsiek and see the construction project across street progressing as usual, traffic on all roads normal and all the Thais in my office and the entire complex still at work. I have no doubt that some foreign tourist that has been waiting to go home for a week now and is listening to reports such as you posted is fearful, but that fear is not based on any reality of the situation, it is based on isolated incidents known areas (that 99.9% of the population is avoiding) being blown out of proportion by a sensationalist press and hysterics such as yourself who aren’t even here.

I am not saying there is not a potential for serious problems, but that is not what your post said. You said it was happening all over Bangkok right now and the city was not functioning. That is not true.

TH

[midas]

...I don't know what more to say to you - you can choose to believe whatever makes you feel most comfortable

I will believe what my eyes tell me as I look out the window of my high rise office on Rachadapsiek and see the construction project across street progressing as usual, traffic on all roads normal and all the Thais in my office and the entire complex still at work. I have no doubt that some foreign tourist that has been waiting to go home for a week now and is listening to reports such as you posted is fearful, but that fear is not based on any reality of the situation, it is based on isolated incidents known areas (that 99.9% of the population is avoiding) being blown out of proportion by a sensationalist press and hysterics such as yourself who aren’t even here.

I am not saying there is not a potential for serious problems, but that is not what your post said. You said it was happening all over Bangkok right now and the city was not functioning. That is not true.

TH

thaihome if you criticise somebody's posting the should at least get your facts right

this was my original posting :-

This discussion seems quite bizarre at this point in time when there are people dressed in

red and yellow T-shirts wandering around Bangkok shooting and maiming each other

with many foreigners fearful for their own safety!

Yes I think there could very well be a substantial increase in the number of condominiums

right now that are not salable at any price

Where in that post do I say that the city was not functioning? These are entirely your words.

The view you are currently seeing out of your office complex is in broad daylight.

Again where does my post suggest that anything abnormal is happening during the daytime?

I suggest you are spending too much time in your

high rise office building and you should come down to street level and may be group up with

some Thai people to take you out on the streets after midnight to see what

really happens after dark

- daylight activities and nighttime activities- chalk and cheese

[think_too_mut]

The above countered those who seem to make the assumtion that all those who buy in Thailand wish to sell, and are going to be hurt.

That's the bone of contention that made many of threads exists, be interesting and even some people banned over it.

There are 3 camps, as I see them:

1. Those (including myself) who bought to own/live in their places and do not care whether their property is gaining in value as they have no intention to sell (but would be nice to know that the value is going up, if it does and I think it does not, even agree my place is unsellable);

Of course, I oppose the remaining 2 camps:

2. Those who bought to live in but need others to join in their illusion they can pack up, sell at a whim, pocket the money + profit and go where they want (which is this thread about too);

3. Those who are telling anyone and everyone that Bangkok property is no different to those in Sydney, London, New York and prices are and can only go up. Including some professionals and scammers (most of residential ones have disappeared from this site, some arrested and deported).

[pkrv]

midas - you may note that my original comment was made long before this mess - I think the next stage would be more like - If PAD win and the goverment loses (I think today is a big day the 2nd is when a court judgment is to be made?). Then the next logical step would be for the redshirts to burn both airports to the ground, oh and govement house.

I have not seen anti Farang statements yet. But yes I too noted the Malaysia comment. I must confess I did not know about that.

http://www.pbs.org/wgbh/commandingheights/...my/my_full.html

However it appears to have been limited to

1981-1986: The government starts a campaign to reduce foreign ownership, including "dawn raids" to buy back Malaysian assets on the London Stock Exchange. Privatization begins and draws criticism as assets are sold to Malay businessmen with government connections. Mahathir says the buyers are proven business "winners." In 1985 Malaysia launches the Proton Saga, the first locally manufactured automobile.

Edit - sorry just noticed th BBC story - no change?

http://news.bbc.co.uk/1/hi/world/7759960.stm

Edited December 2, 2008 by pkrv

[quiksilva]

Sorry Im going completely off topic, but first off: thinktoomut your new festive avatar and signature gave me a much needed smile today, thank you!

As for Thai assets being unsellable, I think it might interest some to hear that we are still selling factories primarily to Japanese newcomers and existing operators who are expanding their presence in this country.

Even with all that is going on here, we are still receiving inquiries from American and European firms looking to locate manufacturing facilities here.

Again don't read too much into my reasons for posting, Im not trying to paint a rosy picture, but I think its interesting information that is worth sharing.

Its never all doom and gloom.

[think_too_mut]

As for Thai assets being unsellable, I think it might interest some to hear that we are still selling factories primarily to Japanese newcomers and existing operators who are expanding their presence in this country.

Even with all that is going on here, we are still receiving inquiries from American and European firms looking to locate manufacturing facilities here.

Again don't read too much into my reasons for posting, Im not trying to paint a rosy picture, but I think its interesting information that is worth sharing.

Its never all doom and gloom.

You are talking commercial properties, that would work fine in any kind of order, even of North Korean type. When that is not possible (ports blocked or devastated), they will start packing up. One way or another, thios blockade of the airports will be resolved and may live within and hurt mostly tourist industry.

Old fashioned factories won't go out of favor because of that.

Japanese like to have cheap labor and a valve to vent out strong yen, that's how most of the JP factories were built in Thailand.

[think_too_mut]

Sorry Im going completely off topic, but first off: thinktoomut your new festive avatar and signature gave me a much needed smile today, thank you!

Haha...that's how "welcome girls" sing in front of their bars. Hope they get enough listeners this year.

Edited December 2, 2008 by think_too_mut

[pkrv]

Sorry Im going completely off topic, but first off: thinktoomut your new festive avatar and signature gave me a much needed smile today, thank you!

Haha...that's how "welcome girls" sing in front of their bars. Hope they get enough listeners this year.

Up until recently I have never ever seen Bingobongo ever, ever respond to a post. When you said Glyph was bingos stalker or what ever he was called in the past, Bingo took the bait didn't he?

You are not mellowing think_too_mut, are you? Your coments are usefull and provide thoughtfull guidence.

[thaihome]

The above countered those who seem to make the assumtion that all those who buy in Thailand wish to sell, and are going to be hurt.

That's the bone of contention that made many of threads exists, be interesting and even some people banned over it.

There are 3 camps, as I see them:

1. Those (including myself) who bought to own/live in their places and do not care whether their property is gaining in value as they have no intention to sell (but would be nice to know that the value is going up, if it does and I think it does not, even agree my place is unsellable);

Of course, I oppose the remaining 2 camps:

2. Those who bought to live in but need others to join in their illusion they can pack up, sell at a whim, pocket the money + profit and go where they want (which is this thread about too);

3. Those who are telling anyone and everyone that Bangkok property is no different to those in Sydney, London, New York and prices are and can only go up. Including some professionals and scammers (most of residential ones have disappeared from this site, some arrested and deported).

Agreed, and I am certainly in the first camp and find the second amusing. As far as the third, anyone that thinks property investment in a devloping country is just like thier western one, is asking for problems.

TH

[thaihome]

...I don't know what more to say to you - you can choose to believe whatever makes you feel most comfortable

I will believe what my eyes tell me as I look out the window of my high rise office on Rachadapsiek and see the construction project across street progressing as usual, traffic on all roads normal and all the Thais in my office and the entire complex still at work. I have no doubt that some foreign tourist that has been waiting to go home for a week now and is listening to reports such as you posted is fearful, but that fear is not based on any reality of the situation, it is based on isolated incidents known areas (that 99.9% of the population is avoiding) being blown out of proportion by a sensationalist press and hysterics such as yourself who aren’t even here.

I am not saying there is not a potential for serious problems, but that is not what your post said. You said it was happening all over Bangkok right now and the city was not functioning. That is not true.

TH

thaihome if you criticise somebody's posting the should at least get your facts right

this was my original posting :-

This discussion seems quite bizarre at this point in time when there are people dressed in

red and yellow T-shirts wandering around Bangkok shooting and maiming each other

with many foreigners fearful for their own safety!

Yes I think there could very well be a substantial increase in the number of condominiums

right now that are not salable at any price

Where in that post do I say that the city was not functioning? These are entirely your words.

The view you are currently seeing out of your office complex is in broad daylight.

Again where does my post suggest that anything abnormal is happening during the daytime?

I suggest you are spending too much time in your

high rise office building and you should come down to street level and may be group up with

some Thai people to take you out on the streets after midnight to see what

really happens after dark

- daylight activities and nighttime activities- chalk and cheese

So you are allowed your little sensationalism and other can’t do the same? I live in Bangkok, drive almost across the city and back every day, mostly at night as I work very late most days. I never ever saw any people in yellow or red t-shirts driving around at all, much less shooting at each other.

Your post was an attempt to foster a feeling that Bangkok is a dangerous place due to what the PAD is doing. You don't even live here. Shut up.

TH

Edited December 3, 2008 by thaihome