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World-beating currency gives Thailand major economic headache


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3 hours ago, Teee said:

 Nice house...well done. But you dont live there but your thai wife does....good luck trying to sell it and taking the money.

I lived in Bkk because i was living with my fillipino gf...but hate Bkk...and too expensive.

 

Not what the OP said in his post. And considering you know nothing about the man or his wife the rest of your sentence was also garbage.

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6 hours ago, Teee said:

 Nice house...well done. But you dont live there but your thai wife does....good luck trying to sell it and taking the money.

I lived in Bkk because i was living with my fillipino gf...but hate Bkk...and too expensive.

 

 

I DO live there, with my Thai wife of nearly 30 years. And I/we have no intention of selling it. I merely wrote what it was worth. If what you meant to write was that I don't own it, I didn't claim to.

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On 9/12/2019 at 8:18 AM, Teee said:

I gave up on Thailand last year after 2 years.

Bangkok so expensive...and when i came back end of the year for 2 weeks then a month in April...WOW!!! cheaper to live at home in the UK. Well not unless you eat filthy polluted food of the street.

Even condos are getting expensive to rent...to live in comparison as home min 35000bht...hey same rental as UK.

My ex gf who i lived with paid 10000bht a month for a small 35sq foot.

Toooo small. Cheap...but not what i moved to Thailand for to lower my living standards

No disrespect to all you old expats...why would you want to live Bkk?

Maybe easier to pick up a young asian buy her meal drinks and get your leg over?

For you over 65s thats cool for you...till your money runs out which the way the currency is now will get worse before in a couple of years maybe recovers.

My ex (fillapino) kept having a go at me saying i was counting (watching) my money too much. Considering we used to go beach every 3rd weekend if she was not working and trips to Cambodia (great place and cheap) Vietnam Malaysia and brought her to the UK to meet my family and see her family...i would tell her....if you dont count your money then eventually you run out.

She does not understand that money dont grow on trees ha ha

 

 

 

If you know any 35sqft condo in central london for 250gbp a month (10k thb) please let me know i am very interested... no one can’t compare living cost in a UK provincial city with Bangkok. Compare bkk to london, not Hull with Bangkok or Phetchabun with London! 

 

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3 hours ago, Stargrazer9889 said:

I do look forward to the day the Baht falls over the cliff. It may not be

this year or the next, but someday...

Geezer

I wouldn’t if you intend to stay here. If Baht collapse, it will bring in imported inflation and will result in hyper inflation. Your foreign money gained due to weak Baht will be spend on higher prices of practically all products. 

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On 9/12/2019 at 7:49 AM, Fex Bluse said:

The Thai elites are 

 

1. allowing hot Chinese illicit capital outflows into the Thai economy and

2. probably forcing the Thai central bank to hold a peg until their money is out -- just like they did in 1997/98

 

See below at 14:45

 

 

Fex Bluse, THANKS for the link. I spent hours listening to other Kyle Bass videos. Fascinating stuff, especially on Hong Kong. Also great insight into the Chinese-American ongoing economic war.  

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10 hours ago, mikebell said:

Is this allowed?  I thought the rules were the same as the Thai house buying scam?

No, its worse. 
Not even vietnamese can buy, you can only lease from the government and foreigners can only lease in Farrang Ghettos that are cleared by the government. 

For condos foreigners can "own" up to 30% in a building, here it's 50%.

But for gated properties it's only 10% and never more than 250 houses in a given division.

 

There's massive issues with condos not beeing finished because many building companies have been told to stop building as they aren't liked by the govment clowns.

 

It's super important to get a ownership certificate, but there have been many issues in the past where people bought but didn't get one - because theres a law saying that foreigners can't own property in area important to national defense, but it's totally up to the government to decide which areas that are...and it's often beachfront areas that are getting declared as those.

It got a bit better the last years but is still not a good place to own RE, as i figured..

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1 hour ago, ThomasThBKK said:

No, its worse. 
Not even vietnamese can buy, you can only lease from the government and foreigners can only lease in Farrang Ghettos that are cleared by the government. 

For condos foreigners can "own" up to 30% in a building, here it's 50%.

But for gated properties it's only 10% and never more than 250 houses in a given division.

 

There's massive issues with condos not beeing finished because many building companies have been told to stop building as they aren't liked by the govment clowns.

 

It's super important to get a ownership certificate, but there have been many issues in the past where people bought but didn't get one - because theres a law saying that foreigners can't own property in area important to national defense, but it's totally up to the government to decide which areas that are...and it's often beachfront areas that are getting declared as those.

It got a bit better the last years but is still not a good place to own RE, as i figured..

why would anybody buy anything  in a commie country that you cant put in your pocket and take away.

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On 9/12/2019 at 2:04 AM, Cadbury said:

For expats and exporters who were hoping it might fall sometime soon. From Bloomberg. 

"......strategists say the currency isn’t likely to lose its newfound status as a haven anytime soon, thanks to Thailand’s rising current-account surplus and record foreign reserves".

“’Thai baht remains a safe haven as we haven’t had significant impact from the worsening trade war like other emerging markets,” said Jitipol Bangkok-based chief strategist at Krung Thai Bank Pcl. The third most-accurate forecaster for the currency last quarter predicts the baht will rise to 30.25 per dollar by the end of the year",

The baht is a double edged sword. Great for the military and the rich elite who get their money out and store it offshore and watch it grow but a disaster for exports and the economy. 

 

 

Plenty of foreign currency reserves from so many B400k and B800k 'deposits'.

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22 hours ago, Eric Loh said:

I wouldn’t if you intend to stay here. If Baht collapse, it will bring in imported inflation and will result in hyper inflation. Your foreign money gained due to weak Baht will be spend on higher prices of practically all products. 

Baht collapses

 

Buy things that are then under-priced but likely to appreciate during the recovery -- like

1. distressed business

2. real estate

 

Then leave Thailand and only return when the recovery starts and inflation is controlled

 

People have been profiting on currency devaluations for decades.

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On 9/12/2019 at 8:28 AM, quadperfect said:

So whats the best move? Put usd to equal 800k in a bank here for a visa? 

Great question and one I've been mulling over for a few months.  Currently leaning towards opening a FCD account and parking USD.  Still have questions if it's the right move versus moving money over and converting to baht.  Mostly about exchange rate and interest loss.

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On 9/13/2019 at 9:06 AM, siambluesky said:

If you know any 35sqft condo in central london for 250gbp a month (10k thb) please let me know i am very interested... no one can’t compare living cost in a UK provincial city with Bangkok. Compare bkk to london, not Hull with Bangkok or Phetchabun with London! 

 

Are you sure that your not talking sq meters 35sqft is barely a room

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On 9/13/2019 at 3:06 AM, siambluesky said:

If you know any 35sqft condo in central london for 250gbp a month (10k thb) please let me know i am very interested... no one can’t compare living cost in a UK provincial city with Bangkok. Compare bkk to london, not Hull with Bangkok or Phetchabun with London! 

 

If you read my input I said 35sqft far too small...I would not want to live perm in a small room...thats not living the dream.

If you want a decent condo/apartment anywhere in Bangkok you would pay upwards of 50000 bht a month...its cheaper to live in UK at that rental for like for like.

And no i did not mention central London as that is not where i was comparing like for like...but not far from London is where i did my comparison.

Next please....

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On 9/12/2019 at 8:23 AM, Dustdevil said:

Chiang Mai still seems to be a great bargain in a much better city. I checked rentals a few weeks ago; there are still plenty of apartment for 7 to 10K baht that are adequate for westerners.

I lived in Bkk with my ex who works in Bkk. No other option to go live in another location.

The apartment for 7 to 10k i assume would be min 90sq m? I doubt that...because anything smaller would def not be adequate for really anyone moving from a home country to live the 'dream'.

Not unless of course in the home country that person was living either in a bedsit or sharing a house.

 

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On 9/12/2019 at 8:56 PM, roamer said:

Not what the OP said in his post. And considering you know nothing about the man or his wife the rest of your sentence was also garbage.

Shame you think you know it all.

If you had read my original post then yiu will know that i was referring to me giving up living in Thailand as its got too expensive and that i was living in Bkk with me ex gf a fillipino who works in Bkk.

So to have the nice OP reply to me re his house he rebuilt (the house is in his wifes name) i said well done. But if anything happened....as we all know....well i suppose your the expert...if he and wife split up....he has no claim on the house therefore no money.

Before you are rude to anyone else on here...read all the posts relating.

Next please

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On September 12, 2019 at 3:23 AM, Dustdevil said:

Chiang Mai still seems to be a great bargain in a much better city. I checked rentals a few weeks ago; there are still plenty of apartment for 7 to 10K baht that are adequate for westerners.

It's sad that the air quality is dangerous for 3-4 months a year.

but wear a mask, you'll be ok.

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