Sporty Posted July 17, 2008 Report Share Posted July 17, 2008 Does anything here sound crazy to anybody else ? "Confidence Thailand Fair" "KTB has also joined with property developers to offer special promotional deals for visitors to the fair who apply for a mortgage to buy a house built by a participating developer this month. The maximum credit line is 100 per cent of the appraised price, and there is no interest for the first four months. The appraisal and transaction fees are also waived. Customers taking out a mortgage-reducing term-assurance policy and fire insurance will receive a 0.5-per-cent discount on interest for the fifth to 12th months. The bank is also offering 2,500 units of non-performing assets at a special 40-per-cent discount attached to loans for buying or renovating properties. The credit line is up to 110 per cent, with zero interest for the first year and then at the minimum lending rate minus 0.25 per cent from then on." Link to comment Share on other sites More sharing options...
Lord Toad Posted July 17, 2008 Report Share Posted July 17, 2008 Thailand has many saving graces in that it is an agroeconomy and there are not great depths of consumer debts. But I think the apartment housing building boom looks very suspect. It was interesting that on bloomberg TV last night there was an "expert" saying he thought Asia was heading for major problems with over supply of new housing. "There are major Asian cities which are building more apartments than New York" was a rough quote: I wondered if he was thinking of BKK! Link to comment Share on other sites More sharing options...
samak Posted July 18, 2008 Report Share Posted July 18, 2008 not only BKK! it is even much worse in some large chinese cities! Link to comment Share on other sites More sharing options...
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