‘Can’t buy a house for 3 months because the seller won’t cut losses’

'Can't buy a house for 3 months because the seller won't cut losses' 17

Around the story `House ‘on paper’ reduced by hundreds of millions of dong in difference`, reader Sy Thanh shares the difficult reality of people who want to buy a house at the present time:

`In fact, real estate prices are only flattening or decreasing slightly, they cannot decrease further. Obviously, sellers only want to cut profits, not losses. For the past three months, I have been bored trying to buy a house.

`I went to see a few houses in Saigon at the end of 2017 until now. I’ve seen them all, the front houses and the alley houses, and I check them out a few times every year. This year, I still checked the prices and found them to be the same as before.`

>> ‘People holding cash are more worried than people holding real estate’

Meanwhile, Kwolf readers have a different view, believing that real estate will soon be hit by the effects of the economic recession after the pandemic:

`For those who always say real estate never goes down: Everyone should remember, oil prices can even reach negative $37, is anything impossible? But everything is just starting, we also need

Sharing the same opinion, reader Thanh made a prediction:

`The cash flow into real estate is endless, hopefully after this epidemic season, prices will decrease by more than 50%. Those who are holding cash should sit and wait for the opportunity, don’t rush to buy now. Let those holding the goods run out.

>> The problem of ‘hunting’ for land worth 500 million VND during the epidemic season

Explaining the slow decline in real estate prices, reader Ngoc lam le commented:

‘Actually, it’s not because of lack of supply, or because people’s demand is still high, that leads to scarcity of real estate and apartments.

Talking about the situation of getting rich by buying and selling real estate to make a profit, reader Duong Nguyen Van pointed out many shortcomings:

`Many people get rich this way: competing to buy apartments and project land to sell for the difference. We don’t know when we Vietnamese will change our perspective and get rich by creating value.

`Many products are susceptible to speculation: from real estate, pork… to masks, hand sanitizer, noodles, toilet paper… Anything that looks `lucrative` is what makes people jump.

Determining that speculation has a negative impact on the country’s economy, reader HYP said:

`This makes the economy even more difficult. These people just buy and wait for prices to increase and then sell, not creating any wealth for society. An economy that depends too much on real estate will have many hidden dangers.`

>> Share your article for the Opinion page here.

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