Posted by Jay > 2018-11-09 12:02 | Report Abuse

@qqq3 I do not object to something just because it is new, I object it because it's problematic and could create a lot of negative issues

it's creative I give you that, but not exactly fair to buyers and clearly done with vested interest by developers and the portal.

despite numerous very detailed explanations, you don't seem to be interested in understanding or provide a valid argument against them. you keep saying it's great for everyone but can you back it up with explanations? if a person blindly supports something without proper reasoning, I can't help but doubt your motivations

I welcome constructive arguments but I don't think you are going to engage in one. your next comment probably will again be how great this scheme is, how wrong and sceptical is everyone (with zero points to support)....

Posted by sjwee3 > 2018-11-09 12:25 | Report Abuse

Why seeking bank to finance the 80%, use govt reserved fund,and institution like EPF. Once the citizen's accommodation was well take care of, the economy effect generated is far more than whatever can imagine. Despite of this, can also cease of problem of "goreng" property. Govt should also take responsibility to build more house and share office or public space for incubate new startup company. By the philosophy of housing is for accommodation not for investing.

Posted by sjwee3 > 2018-11-09 12:52 | Report Abuse

Govt immediately got one stone two bird KPI.
1. Using new technology in building material like use recycle plastic or interlock bric combining 3D printing, the housing price can be suppress to only RM40k for 500 sf in 1 month can finished build up. Increase the ROE. Cease out the unhealhty overloaded activities of property investing so as to convert to high end valued generated sector.
2. Incubate more tech startup by inviting no matter local or foreign talent and investor in attractive working and living policy. Combine with new concept of public space, office and universities and industrial and arm force cooperation ecosystem to generate more income per personal.

Posted by stockraider > 2018-11-09 12:58 | Report Abuse

Not true loh....!!

Say property price rm 1 million.

Trust ac
1. 20% buyer
2. 20% property developer

Interest rates 4% pa
Rm 400,000 x 4% pa = rm 16k

The investor need 5% pa thus rm 800k x 5% pa = rm 40k.

Thus deficit funding of rm 24k pa loh....!!

Posted by sjwee3 > 2018-11-09 13:09 | Report Abuse

If govt got lubang that can build house under 100k. (I know they got). Who the hell wanna buy 1 million house. It can be categoried as luxury item but not for house policy. The number of luxury housing should be control at 0.01% of total housing policy. The market will eliminate the overvalued house build by speculator or immoral investor.

Posted by stockraider > 2018-11-09 13:13 | Report Abuse

same situation if the house is rm 100k....the financing deficit to guarantee 5% pa is still rm 2.4k pa loh...!!

Posted by sjwee3 > Nov 9, 2018 01:09 PM | Report Abuse

If govt got lubang that can build house under 100k. (I know they got). Who the hell wanna buy 1 million house. It can be categoried as luxury item but not for house policy. The number of luxury housing should be control at 0.01% of total housing policy. The market will eliminate the overvalued house build by speculator or immoral investor.

Posted by speakup > 2018-11-09 13:19 | Report Abuse

all those who bought house the last 5 years, all see negative equity.

Posted by Jon Choivo > 2018-11-09 13:19 | Report Abuse

Jay,

Where did it say that the developer will pay 5% per annum to the banks guranteed?

Isnt the 5% self deducting upon sale or refinance?

Developers can consider giving 20% discount, and pay the 20% for the buyer i guess.

Posted by speakup > 2018-11-09 13:20 | Report Abuse

ironic, considering that we have been brainwashed into thinking buying a house cannot lose money one.

Posted by sjwee3 > 2018-11-09 13:22 | Report Abuse

The housing ROE is governed by cheap material but good quality and shorter build time. RM 40k within 1 month per unit no matter what kind of the house's technology already exist now. This is the fact that can trembling the perporty speculator, and found they badly deny and ignore it.

Posted by sjwee3 > 2018-11-09 13:29 | Report Abuse

Just to open tender for house developer control under RM 40k to 50k per unit. A lot of speculators die.

Posted by sjwee3 > 2018-11-09 13:35 | Report Abuse

Which govt were wanna see for the economy was doomed by a lot of speculator. Just to revitalize the economy that long time not seen it blooming.

Posted by stockraider > 2018-11-09 13:40 | Report Abuse

WTF the buyer own 20% of the property equity whereas the financer own 80% equity loh....!!

If lose monies....the 1st losses cover by the buyer 1st 20% downpayment.
Above 20% losses the financer cover loh...!!

What if the property gain ???
The financer need to take 1st 20% gain based on 5% pa guaranteed....balance gain share 80% financer and 20% buyer loh...!!

The buyer is a sucker here loh...pay for legal fees, valuation fees etc...also guarantee financer 20% or 5% pa for their gain at the end only have 20% of the equity of the house loh...!!
On the downside need to guarantee the financer, pay expenses and lose and lose the 1st homeownership tax exemption rights when he decide to dispose his 20% equity loh.....!!

I thought the scheme is suppose to help n protect the poor buyer loh ??
But end up taking advantage of the poor buyer loh....!!

The PH govt very stupid loh.....!!

Posted by speakup > 2018-11-09 13:45 | Report Abuse

cronyism is alive in malaysia baru: https://www.malaysiakini.com/news/451068

Posted by sjwee3 > 2018-11-09 13:47 | Report Abuse

The more govt build the unprofit house the more the speculator going to surrender their high price property. Let them collapse. Yes, it was foreseen that will happened no far from now. Their time counted!

Posted by speakup > 2018-11-09 13:49 | Report Abuse

case 1: https://www.malaysiakini.com/news/451068

case 2: https://www.nst.com.my/business/2018/11/429345/country-heights-edges-closer-issuing-1b-horse-currency


Cronyism is alive in malaysia Baru

Posted by sjwee3 > 2018-11-09 13:57 | Report Abuse

We can estimate when will the market crash. But we can manly force it by helding nonprofit and anti-spaculator housing policy to collapse the housing price which was deem too high already.

Posted by sjwee3 > 2018-11-09 14:01 | Report Abuse

If that P2p scheme exercuted, I assure a lot of people rushing to queue long like JPJ summon pay recently.

Posted by sjwee3 > 2018-11-09 14:03 | Report Abuse

Which will catalyst the end of speculator market.

Posted by qqq3 > 2018-11-09 14:05 | Report Abuse

by sjwee3 > Nov 9, 2018 02:01 PM | Report Abuse

If that P2p scheme exercuted, I assure a lot of people rushing to queue long like JPJ summon pay recently.
========

good

Posted by sjwee3 > 2018-11-09 14:18 | Report Abuse

Where to find such thing in the world.
1. Govt guarantee.
2. Reserved fund financing 80%.
3. Perpetualty Ownership.
4. Participation in market with 20% of price.
5. Forcing market to reduce price.

Posted by qqq3 > 2018-11-09 14:19 | Report Abuse

government guarantee only in the sense of promising to regulate it.....

Posted by sjwee3 > 2018-11-09 14:22 | Report Abuse

What a brilliant way to kill and rebuild the imbalance property.!

Posted by qqq3 > 2018-11-09 14:25 | Report Abuse

well....problems exists to be solved.......

Posted by sjwee3 > 2018-11-09 14:27 | Report Abuse

Where to find such thing in the world.
1. Govt guarantee.
2. Reserved fund financing 80%.
3. Perpetualty Ownership.
4. Participation in market with 20% of price.
5. Forcing market to reduce price.
6. Restructure socioeconomic.

Posted by sjwee3 > 2018-11-09 14:30 | Report Abuse

The most importantly restructuring socioeconomic, if not youngster work like a fool. And the boss hire them like a fool.

Posted by qqq3 > 2018-11-09 14:35 | Report Abuse

this is also an excellent time to launch such products....when market is down......

Posted by qqq3 > 2018-11-09 14:37 | Report Abuse

I think it is good for youngster to have more spending power, rather than just slave for installments......good for the economy too.

Posted by sjwee3 > 2018-11-09 14:53 | Report Abuse

Why have to held the debt of RM500k after finish schooling and start to work just to cover the fee and greediness of previous generation? Is that the benchmark of living in one city?. How many didn't go through that by speculation, and benefit by previous unsaturated market of cheap price? And how many live below benchmark? Is that mean they have no human right to live in?

Posted by stockraider > 2018-11-09 17:54 | Report Abuse

Think logically....what cronysism fundmyhome ??

The PH govt endorse it without forcing anyone to join and without coming up even a single sen mah...!!

Although raider see it is a stupid scheme....but it is not cronynism, why leh ???

Ans; If tomorrow another another alexlac can come with a smarter & better product...nothing can stop PH govt endorsing it loh...!!

Raider say if govt do not force people to buy and do not come up with money to support the product.....what cronynism raider ask loh ??

Posted by stockraider > 2018-11-09 18:02 | Report Abuse

Putrajaya says FundMyHome not a monopoly, more players welcome

Malay Mail Syed Jaymal Zahiid,Malay Mail 26 minutes ago .


Tony Pua said the government expects more platforms like FundMyHome to surface once the nuts and bolts of the scheme have been ironed out by the first quarter of 2019. — Picture by Yusof Mat Isa

KUALA LUMPUR, Nov 9 — The peer-to-peer crowdfunding platform, FundMyHome, will not have a monopoly over the newly-proposed home financing scheme sector, the political secretary to Minister of Finance Tony Pua said today.

The Damansara MP said the government expects more platforms to surface once the nuts and bolts of the scheme have been ironed out by the first quarter of 2019.

“Let me explain, FundMyHome is not a monopoly,” Pua told a forum on Budget 2019 organised by AmBank here.

“The Securities Commission will regulate as more exchange platforms will come in, we are open to more coming in,” he added.

Sceptics of the scheme have raised over how FundMyHome have been entrusted to lead the pilot project, after it was revealed that the platform’s owners are linked to leaders within the Pakatan Harapan government.

Pua explained that the scheme was included under PH’s maiden budget as part of efforts to seek “innovative” solutions to the country’s housing problem.

Financing has been found to be the chief factor preventing lower income earners, or the “B40s”, to buy homes. Most are unable to pass banks’ strict loan requirements and buy their first home.

Posted by qqq3 > 2018-11-09 18:44 | Report Abuse

https://klse.i3investor.com/blogs/savemalaysia/181791.jsp

tong can write

Posted by qqq3 > 2018-11-09 18:50 | Report Abuse

jay and speak...here is Tong talking about u......too bad I cannot write as well as this Tong.....but still the same ideas la......

and to all the critics in i3......fingers to u....


"All innovations go through stages of perception; from “ridicule” to “debate” and finally to “ it was obvious”.

Posted by Jay > 2018-11-09 20:20 | Report Abuse

@Jon Choivo it was not mentioned explicitly but it did mention the buyer's 20% will be placed under a trust account, of which will be used to fund the investors' 5% guaranteed return.

so in essence, developer only receive effectively 80%, they forgo the 20% (as discount) to fund that 5% return a year. and they also build in a mechanism whereby if property appreciates, the first 20% goes to developer, effectively reimbursing them

Posted by Jay > 2018-11-09 20:22 | Report Abuse

https://klse.i3investor.com/blogs/savemalaysia/181791.jsp

It's not about whether he can write or not. I lay my points here on his article

1. the scheme is exactly like what the Budget 2019 mentioned (because the idea came from Tong). the only difference is Tong haven't solicit public investment that's why it does not need to be regulated yet
2. Regulators can only come out with a proper framework when given independence. But now SC is pressured into coming out with such framework in Budget 2019 and deputy housing minister even gave a deadline of two weeks, the independence is doubtful
3. innovative stuffs doesn't equal to productive or beneficial stuffs. subprime crisis was caused by mortgage-backed securities (MBS), collateralised debt obligations (CDO), no-income-no-job(NINJA)loans and bunch of other innovative products
4. the condition on which subprime happen is not overbearing debt, it's simply the underlying speculative behavior which turns a productive asset like house into a speculative financial product. to the extent speculative buyers buy multiple houses with cash that they don't have (rely on refinancing)

Let's be honest, Tong was a developer himself and now he runs the property platform. Whose interest is he gonna look out for?

Posted by sjwee3 > 2018-11-09 20:52 | Report Abuse

Govt should intervene the price, control it under RM 100k, with the concept of talent absorbing policy. Disturbing the midle-end property, govt can open tender for developer to build house which under 100k. The more the market denied the fair price the more govt should build that affordable house. Abandoned the house which is overprice.

Posted by sjwee3 > 2018-11-09 20:58 | Report Abuse

Using interlock bric, govt already doing specimens test on school, village and govt building. Using 3D printing technology or if interlock brick. House price can be control under RM100k with shorter build time. Don't be fooled by developer and banker!

Posted by qqq3 > 2018-11-09 20:59 | Report Abuse

put a developer, a banker and a buyer in the room....and out come the p2p scheme......great idea....

problem solved.

Posted by sjwee3 > 2018-11-09 21:06 | Report Abuse

The problem is with new building technology, previous developer ultimately have to suffer,due to oversupply with the house out of affordability of average citizen. This is the culprit. And they never expected it will happen and badly deny it.

Posted by joekit > 2018-11-09 22:10 | Report Abuse

buy lar....stay 5 years then dowan lor....by 5 years ady got some money...can rent....rent for 5 years....then rent another 5 years 5 years like that....old ady check in old folk home.... no need worry give property to who and no need pay rpgt...kekekeke

Posted by qqq3 > 2018-11-09 23:26 | Report Abuse

agree with Joe..... the money paid is capital and can get back some more.

Posted by qqq3 > 2018-11-09 23:35 | Report Abuse

effectively rent free for rest of the life......the 20% just put in another house......deal of the century.....

Posted by qqq3 > 2018-11-09 23:37 | Report Abuse

effectively rent free for rest of the life......the 20% just put in another house......deal of the century.....or until come across Jho Low fortune then buy a mansion for cash.....

so, never need to pay a single sen in interest for the rest of the life..........starting from a young age.

Posted by hollandking > 2018-11-10 08:08 | Report Abuse

hahaha. Just read this. Some of you thinking of goreng2, but i don't think it will follow your wish. Tony pua says it will be limited to
1. affordable housing
2. first time house owner.

Hahaha

https://www.malaysiakini.com/news/451196

Posted by Jay > 2018-11-10 08:48 | Report Abuse

exactly the kind of attitude this P2P scheme promotes, speculative and thought that there's a free ride to prosperity

Posted by Jay > 2018-11-10 08:56 | Report Abuse

@Jon Choivo there is an article and table in The Edge weekly that shows how profits are distributed among investors, developers and buyers. That should give you a clear picture. Apologies for I don't know how to screenshot it over here

Posted by qqq3 > 2018-11-10 10:25 | Report Abuse

sums it up well....its not about gambling.....its about smart.....effectively rent free for rest of the life......the 20% just put in another house......deal of the century.....or until come across Jho Low fortune then buy a mansion for cash.....

so, never need to pay a single sen in interest for the rest of the life..........starting from a young age.

Posted by probability > 2018-11-10 18:01 | Report Abuse

Jay, truly appreciate your work here. The poor has to be educated on this 'pyramid' scheme..

In the future..perhaps very near future we can no longer expect return higher than 3%...population growth will come to a stand still.

Japan is a very good example.

Posted by qqq3 > 2018-11-10 18:05 | Report Abuse

probability...no surprise to me....u think the poorer people cannot be trusted...well, I think the poorer people are just as smart, maybe on many occasions smarter than probability.

Posted by qqq3 > 2018-11-10 18:06 | Report Abuse

https://klse.i3investor.com/blogs/qqq3/181848.jsp