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  1. Join Date
    Jul 2007
    Posts
    452
    #11
    So advice would be to stay as liquid as possible? If so what mix of currencies. Obviously need pesos for day to day spending. Would it even be wise to keep other currencies tucked away or should one just focus on day to day?

    What financial tools are viable? Should one be wary of funds? People selling insurance? College plans? Should it just be cash in bank with some in a TD that rolls over easy in case?

    Is it a bad time to bet a house on a bank loan? How will real estate fare? Wil it suffer here?

    We have to imagine different scenarios for the many out there.

  2. Join Date
    Jul 2007
    Posts
    452
    #12
    Will real estate here suffer? I see a lot of condos being made. They say it is for the overseas Pinoys too who make up a chunk of the buying market. They may be affected. Also isnt it speculation fueled too? Will there be a drop in real estate prices? Did it during the Asian crisis?

    What is the outlook?

  3. Join Date
    Sep 2004
    Posts
    4,631
    #13
    Quote Originally Posted by gearhead View Post
    Will real estate here suffer? I see a lot of condos being made. They say it is for the overseas Pinoys too who make up a chunk of the buying market. They may be affected. Also isnt it speculation fueled too? Will there be a drop in real estate prices? Did it during the Asian crisis?

    What is the outlook?
    Banks here are pretty cautious when it comes to lending and protecting themselves against defaults, which supposedly allows them to be strong even as the US is experiencing the subprime crisis. They say this was a result of the lessons learned during the financial crisis of the 90s.

    Financial experts also claim that because there's a huge housing backlog in the Philippines, real estate here will continue to boom, especially as the BPO industry continues to have a strong appetite for property developments.

  4. Join Date
    Feb 2008
    Posts
    14,181
    #14
    Bottomline, Don't spend money beyond what you can chew. The Americans learned it the hard way buying things they can't afford with money that they don't have...

  5. Join Date
    Dec 2005
    Posts
    39,058
    #15
    Quote Originally Posted by Bogeyman View Post
    Financial experts also claim that because there's a huge housing backlog in the Philippines, real estate here will continue to boom, especially as the BPO industry continues to have a strong appetite for property developments.


    Iyan nga ang masaklap, IMO. Real estate prices are rising faster than what the locals can afford, as the former is mainly driven by outside factors, not by internal capacity...

    It is a good thing that there are still Filipinos who value savings vs. loan. But, in the face of unaffordable housing or car prices for example, they're forced into borrowing money...

    6808:frenchyf1:


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How do you think the Economic Crisis will affect the Phils?