This article is not really interesting, even quite boring. Because it’s repetitive, it tells us something we already know, since a long time (game over for the real estate market, vanished the famous “foreign buyers”, vaporized the financings, in the toilets the so called “luxury” market in dumps like Pattaya, Phuket, blablabla.).
No… instead what I found fascinating is the pure and perfect human psyche at work.
First, the depressing reality, difficult to handle on a day to day basis :
More than 10 residential projects with a combined market value of nearly Bt10 billion remain “on hold” in Phuket, because demand from both domestic and foreign buyers – especially for luxury homes – has fallen to less than half of last year’s level. […]
“Some Thai investors are interested in buying our residential projects, but the banks reject their loan applications. This is the main problem for local investors,” he said. (Nation)
Then, this thunderlight, so human, so pathetically human :
“We believe the Phuket property market may recover in the final quarter of this year or next year because most of the property projects in this area focus on the luxury market,” he said.
This nobody wants to believe.
I don’t want to mock this man. I won’t tell him that all macro indicators and the simple logic are yelling that any recovery for the end of 2009 and 2010 is a fantasy.
I am beyond.
I just see a man, in total disarray, so flawed, but so touching. Like all of us. 😉