Thailand To Avoid Currency Fight As Shadow Of 1997 Crisis Looms

[TommoPhysicist]

Not that I would buy but out of interest when I was already in the bank doing some thing else I asked.

They said because my wife did not work we would have to put half down.

Pay 20k a month into her bank account for 6 months, she can then claim to have a somtam stall in the local market, they won't check. The Thais can do a million variations on this game, most of them work. Why would she (or you) tell the bank she doesn't work?

Alternatively, buy from a developer, 2M loan easy on no income, they 'fix' the paperwork for you through 'contacts' at their bank. (Think big developer, lots of staff, your mrs mysteriously appears on their payroll for the past year)

Edited January 28, 2013 by TommoPhysicist

[waza]

Hopefully Thailand's real estate bubble wont get as big and unbelievable as Chinas..........

As growth slows, China's huge investment in infrastructure is looking ever harder to sustain, leaving a string of ambitious projects - towns, shopping malls and even a theme park - empty and forlorn.

"We have spoken a lot about these ghost towns in Ireland and Spain recently [but China] is Ireland and Spain on steroids," says Kevin Doran, a senior investment fund manager at Brown Shipley in the UK.

Investment in infrastructure accounts for much of China's GDP - the country is said to have built the equivalent of Rome every two months in the past decade. And with such a large pool of labour, it is harder to put the brakes on when growth slows and supply outstrips demand. http://www.bbc.co.uk...gazine-19049254

Or Spain............

Edited January 28, 2013 by waza

[ginjag]

A young Thai in the army wants a motor cycle, goes to Honda, Lateast CLICK....55,000 bht. look at this ...500 bht deposit and the bike is out of the showroom and new owner on the road.

Problem being 3,700 bht per month for 2 years, work it out how much that bike has cost at the end of the 2 year term.

So easy to get for these kids-or adults. They are not concerned how much they pay overall, I wonder what per cent of bikes on average are recovered by the finance sharks.

[Osiris]

A young Thai in the army wants a motor cycle, goes to Honda, Lateast CLICK....55,000 bht. look at this ...500 bht deposit and the bike is out of the showroom and new owner on the road.

Problem being 3,700 bht per month for 2 years, work it out how much that bike has cost at the end of the 2 year term.

So easy to get for these kids-or adults. They are not concerned how much they pay overall, I wonder what per cent of bikes on average are recovered by the finance sharks.

I don't know of a way to calculate the percentage of repo's, but this site always has a number of bikes and cars for sale. The ones with 5,6,7 thousand kilometers are usually a situation where no payment was ever made, except the down payment.

http://www.manheim-asia.com/auction.aspx?auction=X1MBK470

[rubl]

1997, I still remember well. Working in that area I always wondered about the Sahariya skeletons around BAY's head office along RamaIII. The steel skeleton front really started to resemble the upper part of the Hiroshima Dome after years in the rain. Recently removed with only three elevator shafts still standing. Probably soon gone as well.

Surely this indicates it's time for another River Site Town :-)