Wazua
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Has the real estate bubble burst????
Rank: Elder Joined: 12/7/2012 Posts: 11,935
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maka wrote:Swenani wrote:maka wrote:limanika wrote:I don't think this affordable housing program is well thought out. But what's more surprising is that nobody has evaluated to bare bones n critiqued this program in mainstream media. Even the opposition is clueless. If the general public has to benefit, let them ensure most if not all materials are sourced locally..even if the houses cost more, the subsidy should bridge the gap. That way you create more jobs in the economy, rather than letting contractors import everything cheaply in the name of reducing cost of the houses...and ship jobs abroad, end up shooting the same people who contributed to the subsidy. By the way, I believe the current plan could di more harm than good to the economy. But do we have anyone who thinks in govt? How come nobody has critiqued this housing program? It would be chance to come out shining for our opposition yet they just keep thinking referendum Have you gus gone through the document?How do I put the pdf here? Send to wazuafishmonger@gmail.com Sawa Tuma huko wazuagoogle ... pris! In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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Rank: Elder Joined: 9/25/2009 Posts: 4,534 Location: Windhoek/Nairobbery
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People here are confusing supply glut in certain segments of the market to a real estate bubble...I say its a buyers market...its time to go shopping...the bubble will burst when Housing Finance goes under receivership...
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Rank: Veteran Joined: 9/21/2011 Posts: 2,032
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maka wrote:limanika wrote:I don't think this affordable housing program is well thought out. But what's more surprising is that nobody has evaluated to bare bones n critiqued this program in mainstream media. Even the opposition is clueless. If the general public has to benefit, let them ensure most if not all materials are sourced locally..even if the houses cost more, the subsidy should bridge the gap. That way you create more jobs in the economy, rather than letting contractors import everything cheaply in the name of reducing cost of the houses...and ship jobs abroad, end up shooting the same people who contributed to the subsidy. By the way, I believe the current plan could di more harm than good to the economy. But do we have anyone who thinks in govt? How come nobody has critiqued this housing program? It would be chance to come out shining for our opposition yet they just keep thinking referendum Have you gus gone through the document?How do I put the pdf here? Rink? Kindly post the rink I will be very happy to prove myself wrong
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Rank: New-farer Joined: 6/1/2010 Posts: 87 Location: Zimbalabala
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tony stark wrote:VituVingiSana wrote:Subsidies distort the market.
So @tonystark, if GoK is going to subsidize the "low-cost housing" then one can't beat GoK. It was like the imported maize.
New tech will benefit new housing and those with land (or an old building that can be torn down) will benefit.
I "own" real estate indirectly through some NSE investments but most are not in the primary business of real estate. @VVS I always took you for a Keynesian leaning Wazuan ....  ..... Fake ironman ..... you must be an idiot!
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Rank: Member Joined: 5/22/2009 Posts: 206
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the deal wrote:People here are confusing supply glut in certain segments of the market to a real estate bubble...I say its a buyers market...its time to go shopping...the bubble will burst when Housing Finance goes under receivership... Flipping properties is one of the key characteristics of a hot property market. So when's the last time you saw a property investor flip a property in Nairobi?
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Rank: Elder Joined: 1/8/2018 Posts: 2,212 Location: DC (Dustbowl County)
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TNT wrote:the deal wrote:People here are confusing supply glut in certain segments of the market to a real estate bubble...I say its a buyers market...its time to go shopping...the bubble will burst when Housing Finance goes under receivership... Flipping properties is one of the key characteristics of a hot property market. So when's the last time you saw a property investor flip a property in Nairobi? Flipping is an alien concept in Kenya baba. Simply because the dynamics of the real estate industry hapa are different. In TX it is easy to buy a rickety old 70k property built in the 1960s, do some landscaping, paintwork and replace old carpet and remodel the kitchen and sell for 90 or even 100k but in Kenya given the high values ascribed to even the most modest of properties, such techniques would not fly. Renovating a 15m house in Kitengela would not turn it into a 20m house in a month or two no matter how many capital improvements you put into it.
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Rank: Member Joined: 5/22/2009 Posts: 206
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MugundaMan wrote:TNT wrote:the deal wrote:People here are confusing supply glut in certain segments of the market to a real estate bubble...I say its a buyers market...its time to go shopping...the bubble will burst when Housing Finance goes under receivership... Flipping properties is one of the key characteristics of a hot property market. So when's the last time you saw a property investor flip a property in Nairobi? Flipping is an alien concept in Kenya baba. Simply because the dynamics of the real estate industry hapa are different. In TX it is easy to buy a rickety old 70k property built in the 1960s, do some landscaping, paintwork and replace old carpet and remodel the kitchen and sell for 90 or even 100k but in Kenya given the high values ascribed to even the most modest of properties, such techniques would not fly. Renovating a 15m house in Kitengela would not turn it into a 20m house in a month or two no matter how many capital improvements you put into it. If you think flipping is a foreign concept in Kenya, you know nothing about the local real estate market. 15 years or so ago, flipping was common in Kenya. Back then, it was common for a property to change ownership thrice or more within a period of two years, with each seller making a tidy profit. Today, it is virtually impossible to flip a property, meaning buyers are hard to find. In fact, I've started noticing a trend of late where retirees who want to leave the city are struggling to sell their houses. In fact, there's one who has been dropping his asking price by about 2 million every year and still can't find a buyer for his property located in BuruBuru.
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Rank: User Joined: 8/15/2013 Posts: 13,237 Location: Vacuum
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TNT wrote:MugundaMan wrote:TNT wrote:the deal wrote:People here are confusing supply glut in certain segments of the market to a real estate bubble...I say its a buyers market...its time to go shopping...the bubble will burst when Housing Finance goes under receivership... Flipping properties is one of the key characteristics of a hot property market. So when's the last time you saw a property investor flip a property in Nairobi? Flipping is an alien concept in Kenya baba. Simply because the dynamics of the real estate industry hapa are different. In TX it is easy to buy a rickety old 70k property built in the 1960s, do some landscaping, paintwork and replace old carpet and remodel the kitchen and sell for 90 or even 100k but in Kenya given the high values ascribed to even the most modest of properties, such techniques would not fly. Renovating a 15m house in Kitengela would not turn it into a 20m house in a month or two no matter how many capital improvements you put into it. If you think flipping is a foreign concept in Kenya, you know nothing about the local real estate market. 15 years or so ago, flipping was common in Kenya. Back then, it was common for a property to change ownership thrice or more within a period of two years, with each seller making a tidy profit. Today, it is virtually impossible to flip a property, meaning buyers are hard to find. In fact, I've started noticing a trend of late where retirees who want to leave the city are struggling to sell their houses. In fact, there's one who has been dropping his asking price by about 2 million every year and still can't find a buyer for his property located in BuruBuru. Let me know when he is ready to give it out for free If Obiero did it, Who Am I?
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Rank: Elder Joined: 12/7/2012 Posts: 11,935
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Swenani wrote:TNT wrote:MugundaMan wrote:TNT wrote:the deal wrote:People here are confusing supply glut in certain segments of the market to a real estate bubble...I say its a buyers market...its time to go shopping...the bubble will burst when Housing Finance goes under receivership... Flipping properties is one of the key characteristics of a hot property market. So when's the last time you saw a property investor flip a property in Nairobi? Flipping is an alien concept in Kenya baba. Simply because the dynamics of the real estate industry hapa are different. In TX it is easy to buy a rickety old 70k property built in the 1960s, do some landscaping, paintwork and replace old carpet and remodel the kitchen and sell for 90 or even 100k but in Kenya given the high values ascribed to even the most modest of properties, such techniques would not fly. Renovating a 15m house in Kitengela would not turn it into a 20m house in a month or two no matter how many capital improvements you put into it. If you think flipping is a foreign concept in Kenya, you know nothing about the local real estate market. 15 years or so ago, flipping was common in Kenya. Back then, it was common for a property to change ownership thrice or more within a period of two years, with each seller making a tidy profit. Today, it is virtually impossible to flip a property, meaning buyers are hard to find. In fact, I've started noticing a trend of late where retirees who want to leave the city are struggling to sell their houses. In fact, there's one who has been dropping his asking price by about 2 million every year and still can't find a buyer for his property located in BuruBuru. Let me know when he is ready to give it out for free Buru buru has been turned into a slum, that could be the reason why he is not getting buyer soonest. In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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Rank: Member Joined: 5/22/2009 Posts: 206
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Swenani wrote:TNT wrote:MugundaMan wrote:TNT wrote:the deal wrote:People here are confusing supply glut in certain segments of the market to a real estate bubble...I say its a buyers market...its time to go shopping...the bubble will burst when Housing Finance goes under receivership... Flipping properties is one of the key characteristics of a hot property market. So when's the last time you saw a property investor flip a property in Nairobi? Flipping is an alien concept in Kenya baba. Simply because the dynamics of the real estate industry hapa are different. In TX it is easy to buy a rickety old 70k property built in the 1960s, do some landscaping, paintwork and replace old carpet and remodel the kitchen and sell for 90 or even 100k but in Kenya given the high values ascribed to even the most modest of properties, such techniques would not fly. Renovating a 15m house in Kitengela would not turn it into a 20m house in a month or two no matter how many capital improvements you put into it. If you think flipping is a foreign concept in Kenya, you know nothing about the local real estate market. 15 years or so ago, flipping was common in Kenya. Back then, it was common for a property to change ownership thrice or more within a period of two years, with each seller making a tidy profit. Today, it is virtually impossible to flip a property, meaning buyers are hard to find. In fact, I've started noticing a trend of late where retirees who want to leave the city are struggling to sell their houses. In fact, there's one who has been dropping his asking price by about 2 million every year and still can't find a buyer for his property located in BuruBuru. Let me know when he is ready to give it out for free Better yet, I could keep the property for myself, especially since his kids are abroad and the Kenyan market lacks a reverse mortgage facility.
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Has the real estate bubble burst????
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