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Caroline Mutoko's take on the property market
sparkly
#11 Posted : Thursday, September 27, 2018 11:47:48 AM
Rank: Elder

Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
MugundaMan wrote:
jamplu wrote:

those millenials are the only market you will have sooner than later after your 35's retire in the next 15 years.


The good thing about these silly media propagated sociological labels like "Millenials" and "Generation X" and "baby boomers" is that whatever they are purported to be and do changes with times and seasons and never lasts. I remember when my generation (Generation X) was being labeled with all these silly values. We were called "The MTV generation." Ati we were the latchkey kids, disaffected, uninterested in the world around them, cynical and slackers. This was total rubbish! Nobody I know or went to school with was ever this way, yet they labeled us these things. Now almost everybody I know from my generation is getting a lot done, most are well educated, have good jobs or run businesses, some are well known politicians, others are CEOs, the list is endless. Does that sound like a cynical lot of slackers? Hata this millenial labeling is garbage. These so called fads will be long forgotten once most of them turn 35 and are responsible citizens getting a lot done in life. In fact this labeling is very deliberate. The corporates need to create zombie like thinking to which they can sell all sorts of things to. When a 25 year old is told a millenial does not buy he rents and it is drummed in his head every day through the media, the simple ones among them will actually believe it.


What do you mean by media propagated labels?

These are terms with specific meaning. A generation is generally time taken by Children to grow up and get children of their own, typically 30-35 years. At that age a person becomes a junior elder ready for responsibility and leadership. A child born today will come of age in 2050.

Similarly there are age groups and age sets even in African communities long before advent of the fake media.

Every generation is influenced by different dynamics. IMO the most unlucky generation is that born 1900-1910. They experienced 2 world wars and a depression.
Life is short. Live passionately.
kayhara
#12 Posted : Thursday, September 27, 2018 11:48:10 AM
Rank: Veteran

Joined: 5/5/2011
Posts: 1,059
Get another 3 guys buy the 100x50, build ground plus 2 floors with 4 units of 4 bedrooms, ground floor is shared with parking, tanks etc cost drops significantly each guy owns 25% of the house.
To Each His Own
sparkly
#13 Posted : Thursday, September 27, 2018 11:51:08 AM
Rank: Elder

Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
kayhara wrote:
Get another 3 guys buy the 100x50, build ground plus 2 floors with 4 units of 4 bedrooms, ground floor is shared with parking, tanks etc cost drops significantly each guy owns 25% of the house.


Sounds good.
Life is short. Live passionately.
hardwood
#14 Posted : Thursday, September 27, 2018 11:54:31 AM
Rank: Elder

Joined: 7/28/2015
Posts: 9,562
Location: Rodi Kopany, Homa Bay
sparkly wrote:
kayhara wrote:
Get another 3 guys buy the 100x50, build ground plus 2 floors with 4 units of 4 bedrooms, ground floor is shared with parking, tanks etc cost drops significantly each guy owns 25% of the house.


Sounds good.


Neighbours (and kanjo) would never allow you to put up a flat in their midst.
MugundaMan
#15 Posted : Thursday, September 27, 2018 11:56:16 AM
Rank: Elder

Joined: 1/8/2018
Posts: 2,212
Location: DC (Dustbowl County)
sparkly wrote:

What do you mean by media propagated labels?

These are terms with specific meaning. A generation is generally time taken by Children to grow up and get children of their own, typically 30-35 years. At that age a person becomes a junior elder ready for responsibility and leadership. A child born today will come of age in 2050.

Similarly there are age groups and age sets even in African communities long before advent of the fake media.

Every generation is influenced by different dynamics. IMO the most unlucky generation is that born 1900-1910. They experienced 2 world wars and a depression.


Sparkly,
My point was, is every member of every single generation a zombie who acts, thinks and operates in a specific manner dictated by said generation? For example, even with age groups, did every single member of an age group act and think the same way? Heck did even half of a generation or age group all act or think the same way on every single matter? Or even a quarter? So when the media talks about generation X or Millenials they are telling me nothing. 30 or 40 or evn 50 million human beings of whatever age and generation cannot be all put into a reductionist box that says each of them likes ice cream, never rents, doesn't think of the future, never saves and is apolitical.
hardwood
#16 Posted : Thursday, September 27, 2018 12:29:28 PM
Rank: Elder

Joined: 7/28/2015
Posts: 9,562
Location: Rodi Kopany, Homa Bay
Servicing a 20m mortgage would require one to pay about 270k each month for 15yrs. How many kenyans can afford that?
sparkly
#17 Posted : Thursday, September 27, 2018 12:54:17 PM
Rank: Elder

Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
MugundaMan wrote:
sparkly wrote:

What do you mean by media propagated labels?

These are terms with specific meaning. A generation is generally time taken by Children to grow up and get children of their own, typically 30-35 years. At that age a person becomes a junior elder ready for responsibility and leadership. A child born today will come of age in 2050.

Similarly there are age groups and age sets even in African communities long before advent of the fake media.

Every generation is influenced by different dynamics. IMO the most unlucky generation is that born 1900-1910. They experienced 2 world wars and a depression.


Sparkly,
My point was, is every member of every single generation a zombie who acts, thinks and operates in a specific manner dictated by said generation? For example, even with age groups, did every single member of an age group act and think the same way? Heck did even half of a generation or age group all act or think the same way on every single matter? Or even a quarter? So when the media talks about generation X or Millenials they are telling me nothing. 30 or 40 or evn 50 million human beings of whatever age and generation cannot be all put into a reductionist box that says each of them likes ice cream, never rents, doesn't think of the future, never saves and is apolitical.


I agree with you. Every human being has their own personality. Even animals of the same breed have their own personalities. But generations are a reality e.g. I don't suppose your grandfather is on Wazua or buying migundas in Kitengela.

Don't assume also that your grandchildren will be buying migundas in Kitengela. They might be buying their migundas in China, Europe or on Mars.
Life is short. Live passionately.
wukan
#18 Posted : Thursday, September 27, 2018 1:07:32 PM
Rank: Veteran

Joined: 11/13/2015
Posts: 1,657
hardwood wrote:
Servicing a 20m mortgage would require one to pay about 270k each month for 15yrs. How many kenyans can afford that?


This is where folks get it wrong on real estate. If you speak to the people who have made it they started by buying some distressed property somewhere fixed it up and re-sold. You don't have to pay the mortgage for entire 15 years.

Now that the average buy is 10m your first property should 1/3 around 3m. Take your mortgage pay it up for a while then flip it. Use that to get 7.5m property pay a while and flip it. Next aim for the 10m if it is your ultimate property. Location is key don't start with Isinya thinking you will end up in Runda
MugundaMan
#19 Posted : Thursday, September 27, 2018 1:17:06 PM
Rank: Elder

Joined: 1/8/2018
Posts: 2,212
Location: DC (Dustbowl County)
sparkly wrote:
MugundaMan wrote:
sparkly wrote:

What do you mean by media propagated labels?

These are terms with specific meaning. A generation is generally time taken by Children to grow up and get children of their own, typically 30-35 years. At that age a person becomes a junior elder ready for responsibility and leadership. A child born today will come of age in 2050.

Similarly there are age groups and age sets even in African communities long before advent of the fake media.

Every generation is influenced by different dynamics. IMO the most unlucky generation is that born 1900-1910. They experienced 2 world wars and a depression.


Sparkly,
My point was, is every member of every single generation a zombie who acts, thinks and operates in a specific manner dictated by said generation? For example, even with age groups, did every single member of an age group act and think the same way? Heck did even half of a generation or age group all act or think the same way on every single matter? Or even a quarter? So when the media talks about generation X or Millenials they are telling me nothing. 30 or 40 or evn 50 million human beings of whatever age and generation cannot be all put into a reductionist box that says each of them likes ice cream, never rents, doesn't think of the future, never saves and is apolitical.


I agree with you. Every human being has their own personality. Even animals of the same breed have their own personalities. But generations are a reality e.g. I don't suppose your grandfather is on Wazua or buying migundas in Kitengela.

Don't assume also that your grandchildren will be buying migundas in Kitengela. They might be buying their migundas in China, Europe or on Mars.


At least you agree that the commonality is that they will be buying :). Generations and age sets exist - that has never been in contention. But to classify a diverse generation of tens of millions of people as "Millenials" who all do not buy, all do not save, all do not want to live in big spaces and so on I think you will agree is laughable at best.
hardwood
#20 Posted : Thursday, September 27, 2018 1:18:14 PM
Rank: Elder

Joined: 7/28/2015
Posts: 9,562
Location: Rodi Kopany, Homa Bay
Interesting take on kenya's real estate. This will be music to @mugundaman's ears. Nice quote at around 10.25 that says "the trick in real estate is to buy land and not bricks (apartments) because bricks always devalue while land always appreciates"...."you make much more after 10yrs by buying empty land than buying an expensive flat".

In other words it's better to put your money in the dustbowl than in an apartment in lavi.


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