torrenova Posted July 28, 2004 Report Share Posted July 28, 2004 whosyourdaddy said:Hopefully this time the goverment will learn that their shit does stink ( as someone else stated) Toxin doesn't give a fuck. He bends the laws and introduces policies to benefit his companies and those of his cronies. The Thai people are either too awestruck or too fucking stupid to see what is going on and yet the silly fuckers will vote him straight back in again. The politicians are spineless. They move party to align themselves with the current favourite. Forget a one party state, its turning into a one man state. I forget the name but isn't that somewhere near dictatorship ? Link to comment Share on other sites More sharing options...
Guest Posted July 28, 2004 Report Share Posted July 28, 2004 It would great if prices in Thailand are just one big bubble on the verge of tumbling down, and before long we'll all be renting our luxury pads for 4000 baht a month or buying them outright for a song. But I don't have my hopes up. In California when the median price of houses shot up to $200K I thought it was impossible to sustain because almost nobody could qualify for a mortgage that large based on income in the area. Well the median prices since then have marched well past $500K and just keeps on outpacing the relative income of the lions share of the people. And I'm not talking about the even more ridiculous big city scenarios like silicone valley or san fran which might be a closer fit to a city like Bangkok. For what it's worth, in the center of Bangkok condo's go for 70K baht a square meter. It was 50K just 2 years ago. Link to comment Share on other sites More sharing options...
torrenova Posted July 30, 2004 Report Share Posted July 30, 2004 In many ways I agree with you. My house in central London could not be bought by the average Joe. Either he has cash from a previous property gain, he has inherited some cash or he has a damn good job and a huge mortgage. So my market to sell to is limited. In Bangkok, there are so many properties for sale. It is probably worse in Pattaya and particularly in Jomtien. I can say that the price is XYZ. That does not mean that the price really is XYZ bacause the real value is that which I can sell it for. The UK does not have suffient underpinning for prices to continue to rise as first time buyers, who underpin the whole market, cannot afford to buy. The same must be true in Bngkok to a greater extent. I think I read a while ago that the banks had tens of thousands of properties on their books as a result of the fallout after the 1997 crash but that they were refusing to accept market prices and holding out for the price which they thought the property was worth. I thought of buying in Bangkok but I cannot assess the real price or the viability of rental income at the various quality levels. Link to comment Share on other sites More sharing options...
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