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Crackdown on property owners
Fundaah
#1 Posted : Monday, December 07, 2009 6:23:31 PM
Rank: Elder

Joined: 11/19/2008
Posts: 1,267
Kenya government is set to crackdown on property owners to determine the source of their money...won't this burst the property bubble if pirate money and money laundering is weeded out?....woe unto those who bought inflated properties with their hard earned cash
Isaiah 65:17-Look! I am creating new heavens and a new earth, and no one will even think about the old ones anymore
tony stark
#2 Posted : Monday, December 07, 2009 10:51:42 PM
Rank: Veteran

Joined: 7/8/2008
Posts: 947
The property bubble should bust in Nairobi. Where was this said?? By who?? Why?? In what context? Si you saidia with a link!!
tony stark
#3 Posted : Monday, December 07, 2009 11:31:12 PM
Rank: Veteran

Joined: 7/8/2008
Posts: 947
That said Land is still cheaper in Kenya compared to the world average thats why the damn quatari, koreans and chinese are gobbling up our land for there food production!
anasazi
#4 Posted : Tuesday, December 08, 2009 6:41:01 AM
Rank: Veteran

Joined: 6/8/2007
Posts: 675
However for real this piracy money has really messed up the market. I hear of houses in South C going for over 20M! Unless I heard wrong... These are houses that you should pay 8M for MAX! No problem with inflation of property prices... however this should all be with clean money.
Form is temporary, class is permanent
VituVingiSana
#5 Posted : Tuesday, December 08, 2009 8:03:37 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,361
Location: Nairobi
This is a simple matter... why complicate it?

If you think property is over-priced... you sell or do NOT buy. Kwani, who is holding a bunduki to your head? [Unless you are a non-kale in RV... I am sorry but I fear the RV mpigs will start another PEV-like situation using mau as an excuse]

If you think property is fairly priced or 'cheap' then buy...
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Kaigangio
#6 Posted : Tuesday, December 08, 2009 9:44:30 AM
Rank: Elder

Joined: 2/27/2007
Posts: 2,768
hey guys,

real estate in kenya is just like that bottle of beer...in late 1980s, it was costing a mere 3.00 and the drinkers were complaining that it was very expensive....believe me when the time comes for it to cost 1k, people will still drink and further complain how expensive it will be...
...besides, the presence of a safe alone does not signify that there is money inside...
anasazi
#7 Posted : Tuesday, December 08, 2009 9:44:47 AM
Rank: Veteran

Joined: 6/8/2007
Posts: 675
However VVS, the issue here is that the market is being distorted.. If you owned a house in South C and Mr Woria offered you 20M.. Ata kama you're not for distortion.. Utauza! This is the work of government, as we hope/assume they should be immune to greed. If only!
Form is temporary, class is permanent
mwenza
#8 Posted : Tuesday, December 08, 2009 10:01:02 AM
Rank: Elder

Joined: 4/22/2009
Posts: 2,863
@ Kagizzard

In 1987 Tusker at Serena used to go for 7.40 and in lower class bars at 7bob...........This remained so until 1992 election campaigns and the subsequent goldenberg scandal.
IF YOU EXPECT ME TO POST ANYTHING POSITIVE ABOUT ASENO, YOU MAY AS WELL SIT ON A PIN
Kaigangio
#9 Posted : Tuesday, December 08, 2009 11:47:28 AM
Rank: Elder

Joined: 2/27/2007
Posts: 2,768
@ mwenza,

although this was not about beers if you ventured into the bars and night clubs in Eastleigh, ziwani, pangani, riruta, satellite, dandora umoja etc there were joints which used to be called class Z...this is where the beer was going for that amount, around 3.00....actually i took my first bottle of beer (tusker export) in eastleigh in 1988 at 3.20 while my collegue took his guiness at 4.50...
...besides, the presence of a safe alone does not signify that there is money inside...
VituVingiSana
#10 Posted : Tuesday, December 08, 2009 12:11:22 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,361
Location: Nairobi
anasazi - No distortion... Is 20mn for a South C house worth it?
If yes, you can keep it... if you feel it is over-priced... take the chapaa & run to South B, Embakasi, Nairobi West, etc
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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