Thankfully Investor you atleast read me right
Cheers..
Actually i got annoyed when i was read wrongly and wanted to shoot off on a tangent. But then better sense prevailed and i chose to not get offended.
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Prof, there is no need to get upset, i was just asking you because it sounded like you were very disturbed. It might have been clearer if you have talked also about other areas.
Unless i am very much mistaken, I believe you did not came out here because of the economy or the possible incoming boom? What did folks like you and i come in here for? Another Singapore?
The web isn't a very clear place to communicate especially when there may have been circumstances one isn't aware of, such as what you said about the lady you met who lost money in housing at the massage place.
When i shared this (the story of the lady who lost money) with a friend of mine just now, his immediate take was that she must have made some money, just that she was just trying to downplay it. Folks here tend to be a bit cautious about wealth. The other way could be that she bought at the height of the boom, after all, back then the amount could have bought you a pretty nice place.
She may also have her own personal reasons for selling now especially when the locals know that a boom is on its way.
To illustrate, I once had a relative who said that their banks here in JB raised rates every month, it was only when i checked with the bank on how come there was such a high interest rate when other relatives (with the same bank) are paying so little, the bank guys told me. "Yeah lah!" Your relative must be those who owes bank money or do late payment every month, thats why the bank probably took out their discount off the BLR!
Many factors play a part in a house value, location, facing, market support, perceived value(may relate to level of renovation), amenities AND the condition of house. Also, holding power is very important as well, why sell it now when you know you will make a loss unless one needs the money urgently. I have a learned friend who bought a place for 400k 17-18 years back. It dropped to 280k and now slowly but surely climbing back. He has received offers for 350k, then 380k, when i asked him to hold, he said "Of course, i don't need the money so will sell only at the right price"
Making money or losing money from properties is very subjective, other than what i talked about earlier, the other thing is also about timing and also ones attitudes towards it.
Its just like one of my pessimistic neighbours who thought his place could only rent out at 5k and then when he rented out, his neighbour next door got his tenant in at 9k a month.
For housing, there is never a clear line as to what one expects, the future will always be hazy but one thing is clear, this will be a good place to rest our feet and enjoy our golden the years here.
This thread was never started to speculate or to flip properties. Which is why 5 years or 10 years down the road does not matter to me. No matter whether it takes off or not, the ones that i am holding to pass on to my kids, i will not sell no matter how high. Someone has just offered me recently for my clusters but i politely declined.
Sustainability of the economy is just one of the considerations i have but its not the main one and certainly not the main reason i am here. I like it here for the peace, quiet and the happiness it brought to me and my family. As i am typing this, i can only hear the sound of my son's peaceful breathing. No matter how much turmoil and stressed i am, at the end of the day, as i walked in my garden and then the park just now, i told myself, this is a really nice place. My heart aches for those who are still stubborn but i know better than to try to change their minds.
I will still look at the macro level of things where possible. When i first came out here, i told myself its better to adopt a "I will believe it when i see it attitude here" but as times goes by, i had to admit to myself that i am starting to be believer. Things may still go south Prof, just like the lady who once asked me can i guarantee her safety for 5 metres from her car to the bus station at Bukit Indah. No one can guarantee anything. We can look at their grandiose plans and doubt the outcome and whether it will be a success but we owe it to no one but ourselves to at least go see it once. One has to go out to see the projects first and not just depend on heresay.
My contractor told me directly to be prepared to cut loss and run when we first came out here, saying that 800k Semi-Ds are impossible and within 2 months, we will be losing money, mark his words. I even suggested he buy one of the smaller units since he was so apprehensive but he laughed at us. Oh well, to each his own.
I have always asked people to come out here and see for yourself, don't believe what i said but come, this place deserves more than just a simple dismissal.
Prof, i never came out here to hope that Nusajaya will be like Singapore or more successful than Singapore. That it is progressing is itself a bonus for me. The things i read about or posted about here may or may not go through but i will be here regardless.
I may have properties in SG and elsewhere but i intend to probably pass away here. With the current load i am having at work and my current health status, material things are no longer as important to me. At age 25, i thought i have already achieved what i wanted, i was wrong.
My only goal now is to leave behind businesses and rental income for my dependants when i pass on, i had a very hard life when i was young but i have no more time for self pity, only forgiveness and forbearance for those who had stepped on us just to look good and feel better inside.
I found that the only real regrets that one can have in life is when one has a choice and yet still do nothing. Its better to do and fail then those who did not even try.
Thats why the crowds will always still cheer the last man reaching the finish line.
At my current age(i know, to many i am still young), i have never known i can achieve happiness until i came out here. This place changed alot for me, i was depressed for the longest time in SG despite being financially stable but i wasn't happy deep inside.
Here, i finally found what i wanted, thats why every day counts for me.
