property dives

Property moves to slump.....yet the report said otherwise. Look newspaper advertises the auction of properties in Penang. Many houseowners failed to settle their housing loans. The economy is dwindling. There are retrenchments with notices or without notices. Many workers are caught in the web of power play - have money you survive. I feel sad because these workers have families and mountain of debts to pay. Now the economy situation is on walking space. In the middle of September Penang hosted the property fair. Because many units are unsold. Buyers want to see what are the packages offer. But Klang Valley seems to construct more houses/apartments/condominiums...with offer prices reaching millions a unit. If you cruise around in Shah Alam housing estates, you find many put up for sale signs. Some I noted have been there for years. I sometimes pass the area. If these housebuyers bought properties for resale, there are in a tight spot now. They can't find buyers for resale. In my own housing estate there are many empty houses for sale but no takers. I feel the economy is not vibrant as before. Check the motor car sales. It had dropped like 20% compared with last year. Now one has to invest wisely or put it in FD or trust funds ( which I dont feel safe with it unless the banks guarantee the principle sum with interest)