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BANGKOK 17 July 2019 17:53
rooster59

Cabinet adjusts the budget for low-cost housing project

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Cabinet adjusts the budget for low-cost housing project

Na-ark Rojanasuvan

 

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BANGKOK (NNT) - The Cabinet this week resolved to adjust the budget for the 1-million-unit low-cost housing project, after the public showed overwhelming interest in the program.

 

Spokesperson for the deputy prime minister for economic affairs, Natporn Jatusripitak , made the statement, saying that earlier the government set a budget of 20 billion baht to help those earning less than 25,000 baht a month and 30 billion baht for those who earn more than 25,000 baht to buy a house from the initiative. The adjustment, proposed by the Finance Ministry, increases the budget for former group to 40 billion baht, and decreases the budget for the latter group to 10 billion baht.

 

Furthermore, the cabinet also moved the deadline for those interested in the program to complete the loan deal with the Government Housing Bank from December 30th this year to December 30th 2021.

 

Meanwhile, Deputy Government Spokesperson Colonel Athisit Chainuwat said that the Cabinet has resolved to deliberate on the national strategy master plan next week, citing possible issues that may occur due to the overwhelming amount of detail presented in the plan for each ministry.

 

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-- © Copyright nnt 2019-03-17

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This policy has trouble written all over it. How many unsuitable borrowers will take up the offer without proper thought and vetting will be the usual rubbish too, leading to lots of defaults. It's not like a car which can just be given back or repossessed in an afternoon...houses are more complicated plus the political sensitivity of turfing out poor people from their dream house which the government dangled in front of them in the first place. Will end up messy.

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I wonder what tomorrow's populist project will be?

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I doubt the "low cost" housing is what they show in the above photo...more likely a 30 square meter apartment in 3-5 storey block...30 year mortgage paying 3000 baht per month just about covers the interest payment...with maybe 300 baht paying towards the principle 380,000 baht....a lot of people default,the bank repossess the apartment sells to the next customer.

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With a bit of under the table wheeling and dealing these appealing low cost homes could be "acquired" in bulk by the wealthy elite and added to their property portfolios and as used renters for the low income people. That way the filthy rich 1% can maintain their disproportionate share of the country's wealth.

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3 hours ago, rooster59 said:

for the 1-million-unit low-cost housing project,

this project was code named "Operation Bar Girl" until it was made public this week .

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1 hour ago, Cadbury said:

With a bit of under the table wheeling and dealing these appealing low cost homes could be "acquired" in bulk by the wealthy elite and added to their property portfolios and as used renters for the low income people. That way the filthy rich 1% can maintain their disproportionate share of the country's wealth.

Which is the way it should be.  Being rich has benefits that why everyone either wants to work hard to become rich, or just take from the rich to become rich themselves. Poor people that dont work hard to become rich will stay poor, poor people that dont particpate in the taking will stay poor too.

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20 minutes ago, NCC1701A said:

this project was code named "Operation Bar Girl" until it was made public this week .

Marketed on Thai Friendly?

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3 hours ago, Sir Dude said:

This policy has trouble written all over it. How many unsuitable borrowers will take up the offer without proper thought and vetting will be the usual rubbish too, leading to lots of defaults. It's not like a car which can just be given back or repossessed in an afternoon...houses are more complicated plus the political sensitivity of turfing out poor people from their dream house which the government dangled in front of them in the first place. Will end up messy.

I would also be worried about rich folks finding some way to buy up these houses then selling them loan=shark style to folks who don't have the income or don't have the right documents to qualify for this scheme.

 

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Posted (edited)
1 hour ago, Nyezhov said:

Which is the way it should be.  Being rich has benefits that why everyone either wants to work hard to become rich, or just take from the rich to become rich themselves. Poor people that dont work hard to become rich will stay poor, poor people that dont particpate in the taking will stay poor too.

BS, theirs more to it than just "working hard" to getting rich.  sounds so EM Forester. it's the old Horatio Alger myth the Republican believe so that they can sleep at night

Edited by malibukid

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5 hours ago, rooster59 said:

the Cabinet has resolved to deliberate on the national strategy master plan next week, citing possible issues that may occur due to the overwhelming amount of detail presented in the plan for each ministry.

Resolution could be deferred to the next elected government - what's the rush?

But then it might not get into the national strategy master plan now controlled by master Prayut.

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1 hour ago, malibukid said:

BS, theirs more to it than just "working hard" to getting rich.

Really? Like what?

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What a lot of people do not realize this idea was one of Thaksin's, this Moo- Bann, housing estate is near me on a 25 rie block, or 10 acre ,they started building at one end ,the finished houses ,and after he was deposed, anything Thucksin related was stopped and this was one project, hence all the overgrown uncompleted houses .I would say 50% are un-compleated

And now this government is basically reinstating what Thaksin started, this sign is new along with the other beside the local roads I like the artist impression , they are a promotion running up to the middle of next month 5000 deposit will secure you one of these houses ( compleat with a free chainsaw to clear the vegatation? ).

The houses are 2 bedrooms 1 bathroom, a few owners have put on exstetions, at the time they where paying 500 baht /month for 25 years. 

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Some "Ooh Arton" houses from Phayao provinceIMG_2072.thumb.JPG.52ab15a70a760cb3a61f56e195bc8412.JPG.

Apparently the biggest "Ooh Arton"  estate in the country  is at Na-Jomtien Chonburi with

 over 4000 apartments in 96 buildings.

IMG_20160430_124140.thumb.jpg.acc5b70a2d13107e4ecb51edf2b613ad.jpg

 

 

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