Economic Boom Soon?

Want to Invest, Get Personal Loan, Housing Loan, Credit Card?

A lot of information regarding the prospects of property investments have been coming onto my desk most of this week. Some of my friends who are looking for houses to buy in Kuching keeps asking me if the areas in a certain location are good or not - will there be traffic jams in the area, schools there one day etc. Maybe its because I work in the planning department that they feel that I know what they do not know. *gasp* If I say I don't know, they won't listen and if I just jokingly say something like, 'There's going to be a shoplot nearby there', they will start asking succesive questions 'Will there be a playground there' and some will want to debate 'Why don't the government build a hospital nearby?' No answer will satisfy all these curiousities....and in the end I will answer 'Your guess is as good as mine'.

And to add fire to my curiousity I managed to pick up an advertisement about a house in Kuala Lumpur. My heart almost missed a beat when I saw the price. If you suddenly feel that you have money to buy property in Sarawak, try to follow this guy's blog CKH Realty.

To the layman, it does seem that the cost of houses these days are rising - but its not that bad in Sarawak, though the Kuching price seems to be 'sky rocketing' compared to the other Divisions. I remember during the 1997 economic downturn, the costs of houses in Kuching are quite affordable, a double storey semi detach houses would costs around RM200,000 while those a bit in the outskirts will be lower. In the later part of 2001, double storey sedi detached houses shot up to almost RM300,000 - and now its almost RM350,000 to RM400,000 in the Kuching area. The intermediate terraces now lingers around RM220,000 to RM280,000. This is indeed an interesting trend - it can also be worrying trend. Link that with the sort of finance you will need to get the houses...... if you are not Bill Gates that is.... The banks are competing with one another to give out loans - I am sure we are familiar with the 'Tak Percaya Kah?' television advertisements where each bank try to outdo the other by giving an almost '0 %' interest for the first year. Then there are some banks that will give you more than what your house is worth to cover legal fees and also throw in the cost for furnitures! If you are single they may even throw in some money to get a wife/husband!! And the plastic card culture - banks are also competing to give everyone free credit cards, or facilitate balance transfer from one card to the other at 0% interest - for the first year, (and maybe throw in a digital camera that does not work). This is away from the normal procedure of providing them with 3 months of our pay slips plus proof that your J form records an earning of at least RM24,000 per year. I hear that has been revised to RM18,000. Worst still there is one bank that gives you on the spot instant approval! Give them your Identity Card and walah! its approved - fax your documents to us later. Wow - I remember at one time I had to beg for a credit card and after a few rejections I managed to get a supplementary card which my dad kindly provided. I won't be surprised one day some banks will throw the credit cards in the air as you walk pass by and you pick and choose which one you like. Personal loans are becoming a trend now also. These used to be charged at 8% interest and it has now gone down to 5% (it could go lower) as they compete in giving out loans. Even car loans, who has not seen the advertisement to 'Buy a Perodua Kancil with zero down payment!!' I am afraid that one day the banks will pay you a one year suppy of petrol for the Mercedes Benz that you bought using your recently approved credit card and you can drive it into your house which you also got instantly after that immediate approval of your housing loan. Just be careful no dragon tattooed 'Ah Long' with heavy sticks follow you three months after you defaulted in payment.

Something really does not feel not right here - either the economy is growing positively and we are experiencing a boom of some sort or the economy is growing hot and is ready to explode in our face. Time will tell I supposed - I am getting fed up of the various promotional methods these financial institutions are using which are increasingly becoming more aggresive - its as if they are digging into your pocket for that last ten cents that you have.

Curious About The Syringes

I was tailing a car on my way to work and I noticed this sign that has two syringes which shapes up to a 'V' for Victory sign. Anyone has any idea what that means?

I don't suppose the driver is a doctor belonging to a certain medical fraternity - The V Doctors? I know doctors drive better cars than this.