New and Used Car Talk Reviews Hot Cars Comparison Automotive Community

The Largest Car Forum in the Philippines

Page 3 of 6 FirstFirst 123456 LastLast
Results 21 to 30 of 58
  1. Join Date
    Jun 2007
    Posts
    2,854
    #21
    I hope the government will make it mandatory for OFWs to remit a portion of their remittances in a savings or mutual fund.

    So that OFWs will not waste their money on unproductive investments.

  2. Join Date
    Oct 2002
    Posts
    3,872
    #22
    It is a vicious cycle. Our country's economy does not provide enought employment opportunities for our OFWs. Buti nga at meron remittances, otherwise where would our economy be?

    Given the opportunity, I'd think a lot of these OFWs would rather bring their families with them where there are better opportunities for housing, education and healthcare.

    I think what should alarm us more is the creeping dearth of skilled and professional workers. Our health sector is experiencing this with the continued migration of doctors in other countries. Another example is that companies are having great difficulty hiring the services of CPAs and licensed architects who prefer to work abroad for higher pay.

  3. Join Date
    Aug 2008
    Posts
    1,099
    #23
    Quote Originally Posted by jpdm View Post
    I hope the government will make it mandatory for OFWs to remit a portion of their remittances in a savings or mutual fund.

    So that OFWs will not waste their money on unproductive investments.

    aside from taxis and public transport, OFWs invest in posh codominiums in eastwood or fort or makati or ortigas.

    the latter is a more fruitful investment I suppose but only if it will earn money too shortly after you invest on it.

    as a result, we have sold out condominium bldgs. but with no tenants. take example Eastwood na lang, they say most bldgs there are sold out. pero pag andun kasa sa gabi, you can't barely see even one floor lit with residents.

    it's either eastwood agents are trying to make us believe that the bldgs. are sold out or OFW money just went into a slow investment better than bank deposit but still not that productive.

    now considering what happened to America wherein the subprimes relied so much on the appreciation of value of houses, ano kaya mangyari sa mga condominiums natin once the fallout is here.

    it will still be there I suppose pero ano kaya ang maging value nito?

    or to be specific ano kaya ang maging value nito vs. the condominiums strategically located near wet markets, supermarkets, malls, LRT/MRT, puv terminals.

    eastwood or fort is not really middle-class income family friendly. the rich will only buy from a lesser class if they know they will get a better deal. why will the rich buy from an investment that was packaged as an end user price in the first place. the rich would rather pull of strings in real estate heirarchy to get a better deal.

    so what now, if OFWs come home and use their posh investments, kakain sila sa mga fine dining restos under eastwood or fort, then kinakailangan pa nila ng extra cash for taxi just to get out from fort or eastwood.

    yan ang problema *jpdm, OFWs are being convinced na this and this are good money-making investments pero actually kung wala ka talaga dun and witness it first-hand, hindi mo talaga makikita ang true opportunity.

    so is this the OFW screwing part II (1st is they were forced to leave to have work abroad bec. of "undesirable" conditions here) possibly ... like i said, if the filipino people see a bagong BAYANI in the person of OFWs, yun mga opportunistang kababayan natin see the BAYANI in the cash of OFWs
    Last edited by Gen. Miting; November 16th, 2008 at 06:18 PM.

  4. Join Date
    Aug 2007
    Posts
    820
    #24
    Investments are supposed to bring money into your pocket...
    I wonder how many of those people who 'invested' their money in Condo's are getting their money's worth.

    In my opinion, only the brokers, Real Estate companies and Construction companies are making money out of this. I cannot understand what is driving the Condo Boom in our country. Only the expats or filthy rich can afford to live in Condos which have rents starting from 20K to 50K a month.

    At the end of the day, when the Condo's are not filled up, the losers are those people who were coerced to 'invest' in this.

  5. Join Date
    Nov 2005
    Posts
    45,927
    #25
    Companies here love OFW's.

    mapera eh...

    di pa mahigpit sa pera...

    hehe

    Companies here benefit the most from OFW earnings.

    Retailers like SM

    Real estate companies like Megaworld, Ayala...

    Home appliance companies like Abenson

    etc

  6. Join Date
    Jun 2007
    Posts
    2,854
    #26
    Quote Originally Posted by uls View Post
    Companies here love OFW's.

    mapera eh...

    di pa mahigpit sa pera...

    hehe

    Companies here benefit the most from OFW earnings.

    Retailers like SM

    Real estate companies like Megaworld, Ayala...

    Home appliance companies like Abenson

    etc
    Agree with you this time.

  7. Join Date
    Jun 2007
    Posts
    2,854
    #27
    Remittances from our OFW increased.

    Thank GOD!

  8. Join Date
    Oct 2002
    Posts
    29,354
    #28
    Quote Originally Posted by jpdm View Post
    Remittances from our OFW increased.
    Its just temporary for the holiday season. It will surely start thinning out as soon as the Christmas season is over. You'll soon see a lot of OFWs getting laid off and going back to the Philippines or their salaries getting big cuts (to minimize layoffs).

  9. Join Date
    Oct 2002
    Posts
    29,354
    #29
    Quote Originally Posted by uls View Post
    Companies here love OFW's.

    mapera eh...

    di pa mahigpit sa pera...

    hehe

    Companies here benefit the most from OFW earnings.

    Retailers like SM

    Real estate companies like Megaworld, Ayala...
    Eaton properties development has stopped all of their projects because of losses in the current global economic crisis. Heard they are returning all of the deposits of the pre-sold units.

  10. Join Date
    Nov 2005
    Posts
    45,927
    #30
    Ya temporary spike lang ung remittance kasi Xmas season

    ---

    Eaton? ung kay Lucio Tan? Baket daw?

Page 3 of 6 FirstFirst 123456 LastLast
A Remittance Dependent Pinoy Economy