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Total cost USEM

By Murph4865 in Philippines

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flicks1998 Proficient

flicks1998   1,044

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Filed: Lift. Cond. (pnd) Country: Philippines
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1 hour ago, Allovertheworld said:

I wonder if the COVID Crisis will stop the building boom the whole country has been on for the last 10 years?

No, the ban on the POGO's has hurt the residential real estate market, but even more so the commercial real estate market.  Office prices have plummeted as POGO's were taking up a large part of this space with all of the Chinese (legal and illegal) in the Philippines.

 

The real estate market from COVID has not been hit much if at all.  Look at the real estate market in the US during COVID.  Its on fire.  The Filipinos who have lost their jobs tend to not be the white collar OFW's, or the white collar jobs in Manila, at least for now.  The ones who have lost their jobs are the ones who couldnt afford one of these condos in the first place.  Remittances are still up about 3% month over month compared to last year.  Also, there are still alot of decent paying call center jobs readily available in Manila now.  Anyone with previous call center experience can get 3, 4 and 5 interviews within the week. 

 

The real estate boom was supposed to cool down around 2017, that was the date we were looking at for prices to decline, but then the government loosened the requirements on POGOS and a Chinese boom started.  Then they realized it got out of control and basically put an end to POGOS in March this year, just before COVID time.  Too many Chinese working illegally so they changed the immigration requirements for them.  They no longer could apply for a visa on arrival, they could enter visa free for 30 days but their visas could not be extended.  

 

 

The United States is now a country obsessed with the worship of its own ignorance.  Americans are proud of not knowing things.  They have reached a point where ignorance, is an actual virtue.  To reject the advice of experts is to assert autonomy, a way for Americans to insulate their increasingly fragile egos from ever being told they're wrong about anything.  It is a new Declaration of Independence: no longer do we hold these truths to be self-evident, we hold all truths to be self-evident, even the ones that arent true.  All things are knowable and every opinion on any subject is as good as any other.  The fundamental knowledge of the average American is now so low that it has crashed through the floor of "uninformed", passed "misinformed", on the way down, and now plummeting to "aggressively wrong."

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Allovertheworld Proficient

Allovertheworld   355

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35 minutes ago, payxibka said:

So much for real estate bottom fishing and 60+ PHP / USD.

Residential Real estate will be easy pickings in the near future, Just sit back and watch it still needs time.  They can't foreclose on people in Philippines due to COVID.

 

The Piso, I still have hope it will get above 55, I think it now has alot to do if Trump gets re elected and the GOP gains the house, we will soon know that answer hopefully......

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