Bubble and Bubbles. Here is a picture of Michael Jackson's pet chimpanzee BUBBLES, a word synonymous with our property market, with residential loans now accounting for 27 per cent of all loans for banks.
BUBBLES has a new home at a Florida primate sanctuary. Malaysians, though, are finding it hard to buy a home.
The Malay Mail's Marhalim Abbas writes there is an artificial property bubble in the making, with bankers and developers working hand in glove . Rear his piece H E R E.
The government's own National Property Information Center (NAPCI)'s data show average prices for homes rose 19 per cent in the first half of this year from a year ago while in Kuala Lumpur prices have soared by more than 35 per cent. The NAPCI's Property Overhang reports disturbingly show unsold properties rose to 22.6 per cent of new launches in the second quarter of this year.
Unsold homes, and rising prices!!!
Are banks and developers making BUBBLES out of us?
Who is going to bear the brunt of the burn when the music stops playing at the property party?