webfact Posted May 20, 2016 Share Posted May 20, 2016 GHB aims to help 800 thousand people acquire homes over 4 yearsBANGKOK, 20 May 2016 (NNT) – The Government Housing Bank’s (GHB) new president has announced his intention to aid 800,000 Thai citizens to acquire homes over the next 4 years.New GHB President Chatchai Sirilai has declared that he intends to have the bank facilitate up to 800,000 citizens to purchase their own homes over the next 4 years. He asserted that the bank has a strong base of 1.2 trillion baht in assets, putting it in a position to effectively carry out his mission.To achieve the goal, the bank will implement 3 mechanisms, which consist of assisting the misfortunate in accessing funds, making the bank a leader in offering home loans and utilizing electronic payment systems to effectively manage its capital.He stated that through the effective management, the bank should be able to help 200,000 households acquire homes each year. The bank aims to holds one third of the market share for home loans within the 4 year period as well.GHB has released 56 million baht in loans so far this year, up from 13 million during the same period last year. It attributed the marked increase to the government’s stimulus measures. Its non-performing loans rate has been maintained at 5.77 percent. -- NNT 2016-05-20 Link to comment Share on other sites More sharing options...
thai3 Posted May 20, 2016 Share Posted May 20, 2016 what could possibly go wrong, sounds like the USA all over again Link to comment Share on other sites More sharing options...
jaltsc Posted May 20, 2016 Share Posted May 20, 2016 "He stated that through the effective management..." Effective management???....The same type of Thai governmental agency that was so successful with the rice scheme...Please...Stop!!!....You're killing me!!! Link to comment Share on other sites More sharing options...
worgeordie Posted May 20, 2016 Share Posted May 20, 2016 3,846 people per week are going to get a new home, where are they going to find all these houses,I know there are a lot of empty properties around,but I think they are been a wee bit optimistic. regards worgeordie Link to comment Share on other sites More sharing options...
phoenixdoglover Posted May 20, 2016 Share Posted May 20, 2016 (edited) Just a little math. 200,000 loans per year Home cost say 1.5 million baht on average. Loan amount 80% of total Click...Click...Click... 240 billion baht per year 960 billion baht loaned over 4 years. Who wants to be PM when this goes sour? More math 56 million loaned so far in 2016 Say 4 months Annual rate 168 million Required rate 240 billion Required increase 143,000 percent Moon shot. Edited May 20, 2016 by phoenixdoglover Link to comment Share on other sites More sharing options...
macksview Posted May 20, 2016 Share Posted May 20, 2016 i know, i should not mention the bogey man, but his similar plan from years past, has a development near the wife's village, about a 1/4 full of homeowners. the development is quite large, but hugely unoccupied. more money for the big cement company and certain land developers. Link to comment Share on other sites More sharing options...
jamesbrock Posted May 20, 2016 Share Posted May 20, 2016 (edited) GHB has released 56 million baht in loans so far this year... So what happened to the 20 billion baht the government gave you earlier this year? The 20 billion baht to enable low income earners to have their own houses? The 20 billion baht you expected to be "fully applied in two months?" Edit: didn't get 'billion' and 'million' mixed up this time! Edited May 20, 2016 by jamesbrock Link to comment Share on other sites More sharing options...
Srikcir Posted May 20, 2016 Share Posted May 20, 2016 The bank aims to holds one third of the market share for home loans within the 4 year period as well. I'm sure this will thrill the private banking industry having to compete against the government for new home loans. Essentially losing one third of the potential market for new home buyers. Link to comment Share on other sites More sharing options...
BuaBS Posted May 20, 2016 Share Posted May 20, 2016 Better to give the right to own land & house to foreigners , I pay cash , no stupid loans required. Link to comment Share on other sites More sharing options...
macksview Posted May 20, 2016 Share Posted May 20, 2016 Better to give the right to own land & house to foreigners , I pay cash , no stupid loans required. stop using that evil farang logic. Link to comment Share on other sites More sharing options...
laolover88 Posted May 20, 2016 Share Posted May 20, 2016 And the evidence that 200,000 people a year require a New Home? And the evidence that with an average household debt of 180,000B plus and Household incomes of c. 18000 pcm they can afford another6000 B(without interest) a month? 1.5million doesn't buy you much here. As usual surrealism prevails. I went to look at a "house" by the river which I saw in the bank. Falling down, tin roof, asbestos walls; sure nice location. Price 6 million. Knock it down. Start again; so basically 6M for 1 Rai! Throughout Isaan there are half built, half empty collections of houses/boxes (you could not call them estates or villages); well 'houses'is a polite word for some of them. Link to comment Share on other sites More sharing options...
edwinchester Posted May 20, 2016 Share Posted May 20, 2016 Just a little math. 200,000 loans per year Home cost say 1.5 million baht on average. Loan amount 80% of total Click...Click...Click... 240 billion baht per year 960 billion baht loaned over 4 years. Who wants to be PM when this goes sour? More math 56 million loaned so far in 2016 Say 4 months Annual rate 168 million Required rate 240 billion Required increase 143,000 percent Moon shot. Friend of ours just bought one of the homes typical of this scheme, it cost 500,000 bht. Link to comment Share on other sites More sharing options...
Winniedapu Posted May 20, 2016 Share Posted May 20, 2016 200,000 people a year. For famiies of 4, that's 50,000 actual houses per year. Good luck. Winnie Link to comment Share on other sites More sharing options...
Koosdedooes Posted May 20, 2016 Share Posted May 20, 2016 Better to give the right to own land & house to foreigners , I pay cash , no stupid loans required. And how does your cunning plan get Thai nationals into their own homes then ? One suspects you have to pay cashanyway, given they wouldnt give you loan to start with Link to comment Share on other sites More sharing options...
Suradit69 Posted May 20, 2016 Share Posted May 20, 2016 (edited) Better to give the right to own land & house to foreigners , I pay cash , no stupid loans required. stop using that evil farang logic. Ummm... the objective is to find housing for citizens of the country not to sell houses and property to foreigners. What government creates a major program to house foreigners while leaving its own nationals in the lurch. Not evil logic so much as an absence of logic. A Thai friend is in the process of getting a loan from them for a house. The vetting has been very thorough and not been rushed. He's had to clear up some small debts and received assistance in getting his finances organized to minimize any problem managing monthly payments. The anticipated monthly mortgage payment will be only slightly more than he's had to pay for monthly rent. Undoubtedly they've factored in a percentage of non-performing loans and will have reserve requirements. Unfortunately US banks weren't better regulated in that regard and even now European banks are revealing a woefully inadequate provision for this. Edited May 20, 2016 by Suradit69 Link to comment Share on other sites More sharing options...
williamgeorgeallen Posted May 20, 2016 Share Posted May 20, 2016 sweet, they can call them (sub) prime loans. sell them at a low honeymoon rate then repackage them, rate them triple A and sell them on as mortgage backed securities. i mean who doesnt pay their mortgage right? yea yea i know all you debbie downers out there are going to say this didnt work in america but it did for the banks when they got their bail out money. i just need to find out how to own a bank in thailand. Link to comment Share on other sites More sharing options...
connda Posted May 20, 2016 Share Posted May 20, 2016 Government backed sub-prime mortgages. What could go wrong? Link to comment Share on other sites More sharing options...
ozyjon Posted May 20, 2016 Share Posted May 20, 2016 800,000 more slaves shackled for the next 25 years or more to greedy real estate agents aka, banks... Link to comment Share on other sites More sharing options...
DLock Posted May 21, 2016 Share Posted May 21, 2016 800,000 more slaves shackled for the next 25 years or more to greedy real estate agents aka, banks... As opposed to 800,000 people currently shackled to paying slum lord Hiso land owners monthly rents. Link to comment Share on other sites More sharing options...
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