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But there might be some direct deals from builders as some of them relied on Chinese to fill the demand.

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Wait until the banks have repossessed be some bargains then I think right now people would be thinking no point in putting up for sale as there is nobody here to buy

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2 minutes ago, kwonitoy said:

because of the face thing.

Face is not a thing, it's a culture, a tradition! A matter of life and death! 

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17 minutes ago, Pravda said:

But there might be some direct deals from builders as some of them relied on Chinese to fill the demand.

The builders control the supply, if there is no demand, they just shut down supply.

Its an easy equation, if there will be nobody buying your condos for the next 6 months, stop building them.

It cost nothing to send the Burmese condo builders home and mothball a project. Most would be operating to some sort of formula, sell a certain percentage off the plan, then break ground etc.

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RE is always local. Where my interests are at in the Bay Area, things are soft in general, but it would take a near collapse for multi-family to soften much. I'd be interested in knowing if Thailand is a single market or many discrete markets; but I can't buy land, so why worry.

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9 minutes ago, kwonitoy said:

You'd be surprised how long Thais will sit on a piece of property, can't lower the price because of the face thing.

 

Yes. I know. And I would really like to avoid these discussions as I know from someone who owns a hotel near Sathorn Unique. When 1997 collapse happened most of Sathorn Unique customers were actually offered to give up their units at cost. Yes, they could have gotten all their money back, but they still decided to hold on to it.... even to this day and the building still looks the same as in 20 years ago,

 

However, there are a lot of condos in Bangkok and Pattaya. Some of them will have deals. I am certain.

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Anything dependent on credit - here or in the west will fall or simply not be saleable.  All the banks have massive non performing loans and nobody is paying them back for the cars and condos they already loaned money on.  China has it's own set of financial problems and westerners retirement and travel plans have just been uprooted.  Do you really think all the orders are flowing in from the west now for China or Thailand? They can print money but you can't create demand and that is where we find ourselves now.  It is not exactly easy to open countries up again and employment levels globally will take many years to recover.  Expect some bargains.....

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