Thursday, February 17, 2011

Bubble

I've been hearing a strange rumor more and more frequently lately...

"The Spring will be dropping in price very soon!"

Rumors have it that there are many property speculator holding many units in this condominium with very poor turnover rate, many people do not like the location whereby the condo is located right next to a rubbish dump and facing the Jelutong Expressway...

Rumors have it that it's been almost 2 years already with this situation, very soon those speculators will feel the pinch and begin to take drastic measures and reduce the asking price, cut their losses make less exorbitant profits and move on...


I wonder if these rumors will become reality... it'd be good news for us folks and bad news for those property investors speculators...

It would mark for the first time where property price in Penang is being skyrocketed to exorbitant levels and then pushed back down due to low demand. Once there is a first, hopefully it would trigger a domino effect and affect the whole property scene in Penang...

Instead of listening to the standard agent pitch of "You really like the house ma, don't care about the higher than normal price, just buy it, if not later let others buy already", house buyers would be able to see that, yes, if we hold out long enough, we might be able to buy our dream house at a more reasonable price...

Hopefully more and more people will be able to see things this way, then it would deter speculators/agents from, for example, sell a house worth RM200 000 for RM350 000.
They would be more realistic in managing their greed...

Then the bubble will burst, and sanity will return to the housing scene in Penang...

Hopefully... hopefully the rumors would come true... let's pray...

4 comments:

Casendra said...

Ya man finger crossed! But it hardly happen here in KL lo.. haih..

RealGunners said...

actually it hardly happen anywhere in Malaysia...

i just wonder, why is housing the only thing that runs on seller power instead of buyer power in Malaysia...

Casendra said...

Because you'll be surprised there are damn lots of rich people out there, and we chinese hor, die die must have a house mah (guai sook gam), thats why lah...

RealGunners said...

ya.. i'm quite desperate for a house too :(