2009 Crash Not Far Off.

[OZEMADE]

BANGKOK POST Democrat-led coalition government will stick with Thaksin-style populist polices in tackling the country's economic slump, which it believes could be worse than the 1997 financial crisis.

Now they think they are in trouble, I will agree with them big trouble. Now that it has been advertised in the news, lets see the Real Estate Companies run for cover. Hang on to your money.

Edited December 17, 2008 by OZEMADE

[WilliamCave]

BANGKOK POST Democrat-led coalition government will stick with Thaksin-style populist polices in tackling the country's economic slump, which it believes could be worse than the 1997 financial crisis.

Now they think they are in trouble, I will agree with them big trouble. Now that it has been advertised in the news, lets see the Real Estate Companies run for cover. Hang on to your money.

I hope this does not happen to thailand, but I think they are a very adaptable people and the families help each other more than in western culture.

They know what it is like to do with out the luxuries. As to the westerners word they could weather the storm but there sense of worth is put on there possetions and are not as resilient as thai people.

So for them having 2 cars and homes bigger than they need and every electronic toy they could have bought maybe cut back and think before they spend.

.

[OlRedEyes]

BANGKOK POST Democrat-led coalition government will stick with Thaksin-style populist polices in tackling the country's economic slump, which it believes could be worse than the 1997 financial crisis.

Now they think they are in trouble, I will agree with them big trouble. Now that it has been advertised in the news, lets see the Real Estate Companies run for cover. Hang on to your money.

I hope this does not happen to thailand, but I think they are a very adaptable people and the families help each other more than in western culture.

They know what it is like to do with out the luxuries. As to the westerners word they could weather the storm but there sense of worth is put on there possetions and are not as resilient as thai people.

So for them having 2 cars and homes bigger than they need and every electronic toy they could have bought maybe cut back and think before they spend.

.

Yup, us western people are very non-resilient. We are lost without our luxuries. God helped us through wars, civil wars, revolutions, recession, plague, the great depression and the great beer disaster, but now He's left us, we are so alone and afraid

Edited December 17, 2008 by OlRedEyes

[tominchaam]

I think populist policies are a must in order to give Thailand a more united society. There is a real need to improve the living standard in the rural areas not only for the sake of getting their votes in the next election. I agree Thailand is likely to face economical difficulties 2009 but I hope the rich are prepared to accept it is in their own interest to contribute much more than the poor people. Wishful thinking – yeah, unfortunately it is!

[imaneggspurt]

They dont care, they will move back to the country where the fruit falls off the trees and the fish jump out of the water at them, then when/if the recovery comes they will head for the financial hills once more,. ,.

[Rinrada]

quote name='imaneggspurt' date='2008-12-17 09:20:56' post='2412957']

They dont care, they will move back to the country where the fruit falls off the trees and the fish jump out of the water at them, then when/if the recovery comes they will head for the financial hills once more,. ,.

so...can I have another cow please-Krap....

trying to count 'em but they keep moving and moooing about but have started teaching them Angrit.......

They like Bekam...me thinks....

[JSixpack]

the families help each other more than in western culture.

They know what it is like to do with out the luxuries.

Yeah, Western people don't care about their families and never help any family members. And Thai people don't care about money or luxuries or showing off. If they are poor and lack money, often because of squandering all that they get, they never even mention it to anyone! Throwing all that money away on lottery tickets, ciggies, and booze--it's just another aspect of Thai spirituality and otherworldliness. Thais are just SO much more reslient than Westerners, who are all rich and always have been rich, for hundreds of years, without even ever working! How lucky we are to have such role models as Thai people and the farang who adore and emulate them.

[Chang_paarp]

They dont care, they will move back to the country where the fruit falls off the trees and the fish jump out of the water at them, then when/if the recovery comes they will head for the financial hills once more,. ,.

Where they will learn the effects of pollution caused by excessive use of pesticides and fertilizers.

[foxxx]

yeah i'm with jsixpack here, i know more thais with nice cars and 2k a month rooms with no fridge than thais that have a nice place. no one goes to their homes so they spend on things everyone can see, cars, bikes, clothes, phones etc. they cant afford any of it, but it all looks good.

[tropo]

the families help each other more than in western culture.

They know what it is like to do with out the luxuries.

Yeah, Western people don't care about their families and never help any family members. And Thai people don't care about money or luxuries or showing off. If they are poor and lack money, often because of squandering all that they get, they never even mention it to anyone! Throwing all that money away on lottery tickets, ciggies, and booze--it's just another aspect of Thai spirituality and otherworldliness. Thais are just SO much more reslient than Westerners, who are all rich and always have been rich, for hundreds of years, without even ever working! How lucky we are to have such role models as Thai people and the farang who adore and emulate them.

I think you're living in a fantasy world. There are plenty of Thais with money and if you combine the two you'll end up with something worse than an average wealthy Westerner.

You think Thais don't care about luxuries or showing off? Once they get their hands on money they do a good job showing off.

If you're looking for poor people, you're in the wrong country. Only 10% of Thais live below the poverty line, about the same as most wealthy nations. Take a trip to Cambodia, Vietnam, Indonesia and the Philippines to experience true poverty where about 50% live below the poverty line.

[The Philosopher]

BANGKOK POST Democrat-led coalition government will stick with Thaksin-style populist polices in tackling the country's economic slump, which it believes could be worse than the 1997 financial crisis.

Now they think they are in trouble, I will agree with them big trouble. Now that it has been advertised in the news, lets see the Real Estate Companies run for cover. Hang on to your money.

I hope this does not happen to thailand, but I think they are a very adaptable people and the families help each other more than in western culture.

They know what it is like to do with out the luxuries. As to the westerners word they could weather the storm but there sense of worth is put on there possetions and are not as resilient as thai people.

So for them having 2 cars and homes bigger than they need and every electronic toy they could have bought maybe cut back and think before they spend.

.

So you will never see a shiny teal green mercedes sitting outside a shop house, where inside granny and three cousins from the village are metaphorically chained to a washing machine.

[Heng]

One sure sign of economic problems on the horizon is the number of cranky folks getting all sensitive about non-issues (as in this thread for example).

[DonTron]

lets see the Real Estate Companies run for cover. Hang on to your money.

Yada yada yada... prove it! Show me where in Pattaya to get cheap real estate from all those companies and owners who "run for cover". I send out 20-30 offers each week and all I can see is that Pattaya prices are still going up. So if you truly believe this crash, then how come nobody is reacting by lowing prices?

That goes for everyone out there - if you hear about anyone wanting to sell below market value, then please send me a private message cause I would be more than happy to give them an offer.

If you're looking for poor people, you're in the wrong country. Only 10% of Thais live below the poverty line, about the same as most wealthy nations. Take a trip to Cambodia, Vietnam, Indonesia and the Philippines to experience true poverty where about 50% live below the poverty line.

Not to mention Myanmar (Burma) where poverty is a soaring 70%. That country (and Bangladesh) are by far the worst countries I have ever been to.

[tropo]

If you're looking for poor people, you're in the wrong country. Only 10% of Thais live below the poverty line, about the same as most wealthy nations. Take a trip to Cambodia, Vietnam, Indonesia and the Philippines to experience true poverty where about 50% live below the poverty line.

Not to mention Myanmar (Burma) where poverty is a soaring 70%. That country (and Bangladesh) are by far the worst countries I have ever been to.

I agree they're dismal in the extreme, but I intentionally didn't mention those 2 countries because tourists and expats don't normally go there.

Edited December 18, 2008 by tropo

[spiderman2]

I was here last year and it was twice as busy as what it is now, maybe tourists will turn up over the next few days with Xmas being on a Wednesday, hence many will be finishing over the next few days.

As for property keep on going up and up and up in LOS, wasnt that Gordon Browns plan for property to rise by 5-15% PA forever.

The overinflated price of renting shop/office space is one of the major reasons restaurants/ bars are getting so expensive here. Hopefully the upcoming "economic depression" will be the antidote to cure dumb horny lonely farangs who pay overinflated amnounts for their gerrybuilt condo/villa and prices will become reasonable, its happened in Spain with all the wealthy Europeans living there its got to happen here.

Thailands an export economy if the countries theyre exporting too, arent buying a major downturn is innevitable, is it not?

Edited December 18, 2008 by spiderman2

[spiderman2]

If you're looking for poor people, you're in the wrong country. Only 10% of Thais live below the poverty line, about the same as most wealthy nations.

But 100% of Thais arent entitled to free healthcare, a social security system that is as good as a middle income job and can be lived on for life, or free education thats worth having.

Take away us farangs who finance these girls in one form or another and most of them will be living in what id class as poverty if i were to see it back home......... and im from the hood.

[Hssl]

Exports will make or break Thailand in the next few months IMHO

Of course the lack of tourist £$€ will hurt the economy but exports was the main reason Thailand pulled its self outta the cr$p in 97' and it will be the main reason it will / won't sink in the coming months.

[spiderman2]

Exports will make or break Thailand in the next few months IMHO

Of course the lack of tourist £$€ will hurt the economy but exports was the main reason Thailand pulled its self outta the cr$p in 97' and it will be the main reason it will / won't sink in the coming months.

Thats pretty much spot on, but on another level the UK and US need to restart building a manufacturing base over the coming years so we're creating the goods we buy.

I can see Barack Obama and in a year or so Dave Cameron doing all they can to create this, this will be at the expense of China Thailand and countries of such ilk, i for one hope they do if not in not so many years we'll be in far greater sh7t then we are already.

[LennyW]

I was here last year and it was twice as busy as what it is now, maybe tourists will turn up over the next few days with Xmas being on a Wednesday, hence many will be finishing over the next few days.

As for property keep on going up and up and up in LOS, wasnt that Gordon Browns plan for property to rise by 5-15% PA forever.

The overinflated price of renting shop/office space is one of the major reasons restaurants/ bars are getting so expensive here. Hopefully the upcoming "economic depression" will be the antidote to cure dumb horny lonely farangs who pay overinflated amnounts for their gerrybuilt condo/villa and prices will become reasonable, its happened in Spain with all the wealthy Europeans living there its got to happen here.

Thailands an export economy if the countries theyre exporting too, arent buying a major downturn is innevitable, is it not?

Just so you dont miss it - Xmas is on Thursday the 25th of December.

[Phil Conners]

I was here last year and it was twice as busy as what it is now, maybe tourists will turn up over the next few days with Xmas being on a Wednesday, hence many will be finishing over the next few days.

As for property keep on going up and up and up in LOS, wasnt that Gordon Browns plan for property to rise by 5-15% PA forever.

The overinflated price of renting shop/office space is one of the major reasons restaurants/ bars are getting so expensive here. Hopefully the upcoming "economic depression" will be the antidote to cure dumb horny lonely farangs who pay overinflated amnounts for their gerrybuilt condo/villa and prices will become reasonable, its happened in Spain with all the wealthy Europeans living there its got to happen here.

Thailands an export economy if the countries theyre exporting too, arent buying a major downturn is innevitable, is it not?

Just so you dont miss it - Xmas is on Thursday the 25th of December.

Mainland Europeans traditionally celebrate xmas on 24 December. Now you know

Edited December 19, 2008 by Phil Conners

[LennyW]

I was here last year and it was twice as busy as what it is now, maybe tourists will turn up over the next few days with Xmas being on a Wednesday, hence many will be finishing over the next few days.

As for property keep on going up and up and up in LOS, wasnt that Gordon Browns plan for property to rise by 5-15% PA forever.

The overinflated price of renting shop/office space is one of the major reasons restaurants/ bars are getting so expensive here. Hopefully the upcoming "economic depression" will be the antidote to cure dumb horny lonely farangs who pay overinflated amnounts for their gerrybuilt condo/villa and prices will become reasonable, its happened in Spain with all the wealthy Europeans living there its got to happen here.

Thailands an export economy if the countries theyre exporting too, arent buying a major downturn is innevitable, is it not?

Just so you dont miss it - Xmas is on Thursday the 25th of December.

Mainland Europeans traditionally celebrate xmas on 24 December. Now you know

Thanks Phil, i did know some europeans celebrate xmas on the 24th, but xmas day is still the 25th! A Merry one to you!!

[billdo2000]

lets see the Real Estate Companies run for cover. Hang on to your money.

Yada yada yada... prove it! Show me where in Pattaya to get cheap real estate from all those companies and owners who "run for cover". I send out 20-30 offers each week and all I can see is that Pattaya prices are still going up. So if you truly believe this crash, then how come nobody is reacting by lowing prices?

Because there is generally a lag effect between hits to the economy and real estate values. Prices stay the relatively the same after a hit to the economy, demand drops due to issues such as unemployment, then units quit selling. Sellers drop their prices in competition to sell their condo. All others follow suit. Simple Supply and Demand economics.

That goes for everyone out there - if you hear about anyone wanting to sell below market value, then please send me a private message cause I would be more than happy to give them an offer.

Be patient - a drop must come.

If you're looking for poor people, you're in the wrong country. Only 10% of Thais live below the poverty line, about the same as most wealthy nations. Take a trip to Cambodia, Vietnam, Indonesia and the Philippines to experience true poverty where about 50% live below the poverty line.

Not to mention Myanmar (Burma) where poverty is a soaring 70%. That country (and Bangladesh) are by far the worst countries I have ever been to.

Simple idea: Generally speaking, most condos bought/sold in Pattaya are aimed at foreigners (us/me). It could even be Thais buying condos with the intention of eventually selling (or renting) to a foreigner.

If the real estate bubble has burst and westerners aren't bringing money over, exports are down and Thai businesses are losing money and banks will not loan the money, then where does the real estate investment money come from? The normal economics of thailand will not justify these prices for condos and homes.

[Mai Krap]

None of this true, Thailand is not in trouble, I just talked to a developer of homes and condos a few days ago. They told the prices were holding steady and they had over one hundred available properties. Come to think of it I have seen a bunch of new "For Sale" signs going up recently in Thai and English.

I was also told recently that my old stand by hotel off Sukumvit had doubled their prices because they had fewer guests and needed to make more money, funny how the west never thought of that.

[plasticpig]

name='billdo2000' date='2008-12-19 20:00:02' post='2417305']

Simple idea: Generally speaking, most condos bought/sold in Pattaya are aimed at foreigners (us/me). It could even be Thais buying condos with the intention of eventually selling (or renting) to a foreigner.

If the real estate bubble has burst and westerners aren't bringing money over, exports are down and Thai businesses are losing money and banks will not loan the money, then where does the real estate investment money come from? The normal economics of thailand will not justify these prices for condos and homes.

Thats right, but they do Bullshit so much.

Then when it gets a bit hard, they stick the heads in the sand.

Thailand is going for a dive, its only a matter of time.

TIT

[oMega69]

name='billdo2000' date='2008-12-19 20:00:02' post='2417305']

Simple idea: Generally speaking, most condos bought/sold in Pattaya are aimed at foreigners (us/me). It could even be Thais buying condos with the intention of eventually selling (or renting) to a foreigner.

If the real estate bubble has burst and westerners aren't bringing money over, exports are down and Thai businesses are losing money and banks will not loan the money, then where does the real estate investment money come from? The normal economics of thailand will not justify these prices for condos and homes.

Thats right, but they do Bullshit so much.

Then when it gets a bit hard, they stick the heads in the sand.

Thailand is going for a dive, its only a matter of time.

TIT

YES we can hope so ! ...So the Thai Baht will fall down . . and i can live better from my Swedish money

[pothai]

Hi,

Personally I don't think the baht will crash, albeit that the thought of 70+bt to the pound

sounds wonderful.

Infact I was over here when it was 90+ (seems a long time ago)

I believe we are facing 50bt or less for the foreseeable future. Hope I'm wrong.

As for real estate prices I have given up trying to understand them!

Andy J

How many English guys have lost their tilac already to a euro or dollar man because they cant keep up the monthly payments to them due to the exchange rate......there are a few already

[tropo]

How many English guys have lost their tilac already to a euro or dollar man because they cant keep up the monthly payments to them due to the exchange rate......there are a few already

I don't know about the Euro, but "dollar men" have been doing it quite tough for years now.

It's nice to know that tilacs can be easily dumped in a business like fashion, but don't forget alot of those tilacs have more than one source of income.

[Naam]

I was here last year and it was twice as busy as what it is now, maybe tourists will turn up over the next few days with Xmas being on a Wednesday, hence many will be finishing over the next few days.

As for property keep on going up and up and up in LOS, wasnt that Gordon Browns plan for property to rise by 5-15% PA forever.

The overinflated price of renting shop/office space is one of the major reasons restaurants/ bars are getting so expensive here. Hopefully the upcoming "economic depression" will be the antidote to cure dumb horny lonely farangs who pay overinflated amnounts for their gerrybuilt condo/villa and prices will become reasonable, its happened in Spain with all the wealthy Europeans living there its got to happen here.

Thailands an export economy if the countries theyre exporting too, arent buying a major downturn is innevitable, is it not?

Just so you dont miss it - Xmas is on Thursday the 25th of December.

Mainland Europeans traditionally celebrate xmas on 24 December. Now you know

correct!