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Economic Slowdown Deepens Banks’ Woes As Debtors Property Can’t Find Buyers - Properties (2) - Nairaland

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N649bn Bad Loans: Banks To Sell Over 1,000 Debtors’ Properties / Economic Downturn: Vacancies In Lekki, VI, Ikoyi Properties Rise 72% In 18 Month / Loans: Banks Put Up Chronic Debtors’ Property For Sale (2) (3) (4)

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Re: Economic Slowdown Deepens Banks’ Woes As Debtors Property Can’t Find Buyers by DeRuggedProf: 4:59pm On Aug 28, 2015
BUHARI IS MAKING PEOPLE TO HIDE THEIR MONEY undecided
Re: Economic Slowdown Deepens Banks’ Woes As Debtors Property Can’t Find Buyers by crazygod(m): 4:59pm On Aug 28, 2015
bushdoc9919:
Oil dependent economies are unstable economies.

Nigeria must get off oil

Exactly. Entertainment and tourism on its own are very good sources of income for the government. Let govt begin to invest in them.

1 Like

Re: Economic Slowdown Deepens Banks’ Woes As Debtors Property Can’t Find Buyers by Nobody: 5:00pm On Aug 28, 2015
crazygod:


Exactly. Entertainment and tourism on its own are very good sources of income for the government. Let govt begin to invest in them.

Eventually...we may have to go industrial too.

2 Likes

Re: Economic Slowdown Deepens Banks’ Woes As Debtors Property Can’t Find Buyers by tivta(m): 5:01pm On Aug 28, 2015
I taught it was "body language" that will reduce the cost of high brow housing?
Re: Economic Slowdown Deepens Banks’ Woes As Debtors Property Can’t Find Buyers by teadrake(m): 5:03pm On Aug 28, 2015
Taylor86:
blame it on buharis administration
Blame it on the looters
Re: Economic Slowdown Deepens Banks’ Woes As Debtors Property Can’t Find Buyers by Nobody: 5:03pm On Aug 28, 2015
pDude:
When dummies run an economy, this is the kind of shyt you end up with.

When you build a house and set a rent price of N5 million per annum in an economy where people can't eat a single square meal, na rat, cockroacj and lizards go live for your house, rent free.

Stupid fools grin

You should be FCT Minister.

2 Likes

Re: Economic Slowdown Deepens Banks’ Woes As Debtors Property Can’t Find Buyers by Dee60: 5:08pm On Aug 28, 2015
We need a thorough analysis of things.

Nigeria in the recent years have been running a bubble economy where there was so much so called 'growth' without the fundamentals. There was so much money moving around but that circulation was only in a small segment. Government appointees laundered embezzled funds on all manner of things, whereas manufacturing ran to a halt.

The borders were porous. There was foreign money coming in but at any threat the monies flowed out quickly, through legal and illegal means.

If we want true genuine growth we must look at massive infrastucture development, incentivised production, agriculture and exports. President Jonathan made some marks in Agriculture. The corruption around the economy would however not allow or encourage adequate growth.

PMB must open up. Yes, he has to fight corruption to a standstill, because corruption (the kind we have in Nigeria) is terrible. At the same time, PMB must promote resource development accross Nigeria - West, East, North and South.

In fact, PMB needs to get Nigeria and Nigerians working again.

2 Likes

Re: Economic Slowdown Deepens Banks’ Woes As Debtors Property Can’t Find Buyers by favourlove1: 5:10pm On Aug 28, 2015
bushdoc9919:


1.PMB is not my idol.I am a Nigerian. My allegiance is to my country and its peoples....not to any politician, or party.

2.If any Nigerian leader cannot see the need to diversify now;...he is blind and he must be removed

3.Your idol GEJ did not do his job well..ie his job of diversifying the economy.....which is partly why we are here.

4.Whatever the cost...we must be prepared to switch from a resource dependent economy to an industrial economy. This might mean austerity....but it would get us to the point of prosperity.
n ur OBJ did his job well abi? Better go back to school n learn what Gej did in d agric sector during his tenure then you would learn to look before you leap
Re: Economic Slowdown Deepens Banks’ Woes As Debtors Property Can’t Find Buyers by kingthreat(m): 5:11pm On Aug 28, 2015
dunsman:
Hmmmm.... Wat do you expect to happen wen a/an bogot, illiterate, dull, no clear thinking man takes d wheel of control. All we hear is I will, buhari to, body language, probe!! Govt of photos and cameras!! No economic policy, no power policy, youth empowerment nbam, infrastructure development nop.. Even d core reson pple voted for I'm boko haram still dae terrorize.. All wat naija dae experience in terms of benefits are just transformation of Jonathan, but we are experience change in terms of appointments.. Let's bet it, a time will come wen buhari will ask jambites to write Integrity test!!

Meanwhile, buhari is a nymphomaniac--- el rufai

Soon you'll blame buhari for your stupidity.
Re: Economic Slowdown Deepens Banks’ Woes As Debtors Property Can’t Find Buyers by Nobody: 5:13pm On Aug 28, 2015
favourlove1:
n ur OBJ did his job well abi? Better go back to school n learn what Gej did in d agric sector during his tenure then you would learn to look before you leap

1.Like I said....I owe no allegiance to any politician. And I was no OBJ fan either.

2.Nigeria needs industries. Industries that can source their raw materials from within the country....not the car assembly plants we have. Agric obviously does not bring in enough cash....when everyone is doing it.

In other words....agric is just another form or resource dependency.

3.Again......you people think I am here to fight against your tribe. I am a Nigerian. If Buhari does not perform well....then he can go and retire....or we retire him. I am tired of bad leaders....regardless of tribe.

4. Read all about Dutch disease....and you will see why I talk the way I talk....and why I am watching Buhari....and why I am annoyed with PDP regardless of who was in charge.

2 Likes 1 Share

Re: Economic Slowdown Deepens Banks’ Woes As Debtors Property Can’t Find Buyers by mildflame: 5:13pm On Aug 28, 2015
VERY GOOD a CRIMINAL will steal billions of naira n amass properties 4himself n we all think d economy is growing PMB plz continue d cleansing and see if these banks won't be funding d real sectors

1 Like

Re: Economic Slowdown Deepens Banks’ Woes As Debtors Property Can’t Find Buyers by Nobody: 5:15pm On Aug 28, 2015
eiBADAn:
NO POLITICIAN WILL BUY PROPERTIES NOW BECAUSE IT IS NO LONGER AS USUAL, THEY ARE EVEN SELLING THE AVAILABLE ONES OFF SO THAT UNCLE BUHARI WILL NOT CATCH THEM WITH HIS DOGS..


who are they selling the available ones to
Re: Economic Slowdown Deepens Banks’ Woes As Debtors Property Can’t Find Buyers by Nobody: 5:15pm On Aug 28, 2015
What else do we expect from a man who has hit the ground running backwards and has been running backwards for almost 3 months. He must be somewhere in Libya still running backwards. Let us hope and pray he at least stop running and stay in a spot when he get to the Mediterranean sea to enable great minds take charge of the economy
Re: Economic Slowdown Deepens Banks’ Woes As Debtors Property Can’t Find Buyers by mildflame: 5:16pm On Aug 28, 2015
DeRuggedProf:
BUHARI IS MAKING PEOPLE TO HIDE THEIR MONEY undecided

Only CRIMINALS will do that
Re: Economic Slowdown Deepens Banks’ Woes As Debtors Property Can’t Find Buyers by Nobody: 5:17pm On Aug 28, 2015
They need to go through what the common man is facing. You loot government money to build mansions and hotel for only the rich. What do you expect. Now nobody has money to pay the rent anymore.


pDude:
When dummies run an economy, this is the kind of shyt you end up with.

When you build a house and set a rent price of N5 million per annum in an economy where people can't eat a single square meal, na rat, cockroacj and lizards go live for your house, rent free.

Stupid fools grin
Re: Economic Slowdown Deepens Banks’ Woes As Debtors Property Can’t Find Buyers by DickDastardly(m): 5:18pm On Aug 28, 2015
bushdoc9919:


1.PMB is not my idol.I am a Nigerian. My allegiance is to my country and its peoples....not to any politician, or party.

2.If any Nigerian leader cannot see the need to diversify now;...he is blind and he must be removed

3.Your idol GEJ did not do his job well..ie his job of diversifying the economy.....which is partly why we are here.

4.Whatever the cost...we must be prepared to switch from a resource dependent economy to an industrial economy. This might mean austerity....but it would get us to the point of prosperity.
ok
Re: Economic Slowdown Deepens Banks’ Woes As Debtors Property Can’t Find Buyers by Nobody: 5:18pm On Aug 28, 2015
Ozin:
What else do we expect from a man who has hit the ground running backwards and has been running backwards for almost 3 months. He must be somewhere in Libya still running backwards. Let us hope and pray he at least stop running and stay in a spot when he get to the Mediterranean sea to enable great minds take charge of the economy

While we want Buhari to appoint someone good to run the economy......let us blame the real enemy here....our dependency on oil.

Which is what we voted Buhari to deal with.....and if he does not do something about that dependency.....we must vote in someone who will do something about it.

And your PDP did not do anything about it...which is why we are here.

1 Like

Re: Economic Slowdown Deepens Banks’ Woes As Debtors Property Can’t Find Buyers by dunsman(f): 5:18pm On Aug 28, 2015
kingthreat:


Soon you'll blame buhari for your stupidity.

See him just defend with facts not displaying how clueless u are.. Guess ur job is to remain clueless

1 Like

Re: Economic Slowdown Deepens Banks’ Woes As Debtors Property Can’t Find Buyers by youngice(m): 5:26pm On Aug 28, 2015
Freemanan:
TIME TO START WITHDRAWING ALL CASH FROM MY BANKS.... CAN'T TRUST THEM...



SAVANNAH MADE US LEARN THE HARD WAY..
You've been around awhile
Re: Economic Slowdown Deepens Banks’ Woes As Debtors Property Can’t Find Buyers by IBBG(m): 5:28pm On Aug 28, 2015
atlwireles:
Many were over valued in the first case, they will all find buyers at the right price. grin grin grin
exactly
Re: Economic Slowdown Deepens Banks’ Woes As Debtors Property Can’t Find Buyers by juman(m): 5:28pm On Aug 28, 2015
Orimalade explained that most of these property cannot find buyers because those who drive that segment of the market are mostly politicians and oil companies, adding that these buyers were being cautious, waiting for government’s policy direction on the economy.

nigeria a country where politicians pocket the country's money.

Life became difficult for hardworking ordinary people.
Re: Economic Slowdown Deepens Banks’ Woes As Debtors Property Can’t Find Buyers by IBBG(m): 5:29pm On Aug 28, 2015
sammyj:
This is good opportunity for new investors to buy properties. I wish i had money to buy one of the properties !!! grin grin grin
u're on point.
Re: Economic Slowdown Deepens Banks’ Woes As Debtors Property Can’t Find Buyers by IBBG(m): 5:30pm On Aug 28, 2015
pDude:
When dummies run an economy, this is the kind of shyt you end up with.

When you build a house and set a rent price of N5 million per annum in an economy where people can't eat a single square meal, na rat, cockroacj and lizards go live for your house, rent free.

Stupid fools grin
that's the height of greed. u end up pricing urself out of the market.
Re: Economic Slowdown Deepens Banks’ Woes As Debtors Property Can’t Find Buyers by ttmacoy: 5:41pm On Aug 28, 2015
Very true. Just like what the likes of Dubai, Qatar, Norway etc did.

What I find really upsetting about this is we missed a chance to use the proceeds from the oil boom to really invest in infrastructure and diversify the economy. Now it will be painful and hard work falling revenue but it must be done.


bushdoc9919:
Oil dependent economies are unstable economies.

Nigeria must get off oil.

Modified....

What is happening is as a result of a fall in oil money influx into the country. That....and tightening of the forex supply to buffer the naira...as well as an expectation of austerity (really....we have ho choice)...means no money.....and thus..no kudi to keep up the houses.

For Nigeria's economy to be stable...we must diversify. Not just talk about it...do it.
Re: Economic Slowdown Deepens Banks’ Woes As Debtors Property Can’t Find Buyers by Nobody: 5:41pm On Aug 28, 2015
chuna1985:



who are they selling the available ones to

FAMILY AND FRIENDS I GUESS THROUGH PROXY. THIS IS JUST A PROPAGANDA. MOREOVER, NO ONE WANTS TO BUY PROPERTY THAT WOULD BE CONFISCATED BY EF-THIEVES-THIEVES. MY ONE DOLLAR THOUGHT THO
Re: Economic Slowdown Deepens Banks’ Woes As Debtors Property Can’t Find Buyers by Orikinla(m): 5:42pm On Aug 28, 2015
Real estate over valued in Nigeria.
Houses are cheaper in Beverly Hills than in Ikoyi and Victoria Island.

Palazzo di Amore represents the ultimate lifestyle on a one-of-a kind 25 acre promontory. It can easily accommodate parking for approx. 150 cars, and its proximity to world class cultural opportunities is virtually unbeatable. The prestigious residence, with its perfectly-conceived architecture, represents both majesty and family. Outstanding amenities include: Privacy and Security up a ~ mile driveway, guard house, private drivers quarters, guest house, state-of-the-art theatre, discotheque, bowling alley, wine cellar, wine producing vineyard, pool, spa, formal gardens, tennis court and city to ocean views. With all the lush beauty of the Mediterranean, and all the cosmopolitan grandeur of a Beverly Hills address, Palazzo di Amore is indisputably without rival. SHOWN BY APPOINTMENT ONLY WITH 24 HOURS NOTICE. ALL BUYERS MUST BE PRE-QUALIFIED.
Key Details

Price$195,000,000
Bedrooms12
Bathrooms23
Half-Baths7
Three Quarter-Baths11
MLS Listing ID #14809081
Listing StatusActive
Listing Provided By Joyce Rey of Coldwell Banker Residential Brokerage (CalBRE#: 00465013)

Location

Street Address9505 Lania Ln
Re: Economic Slowdown Deepens Banks’ Woes As Debtors Property Can’t Find Buyers by arsenal33: 5:48pm On Aug 28, 2015
dunsman:
Hmmmm.... Wat do you expect to happen wen a/an bogot, illiterate, dull, no clear thinking man takes d wheel of control. All we hear is I will, buhari to, body language, probe!! Govt of photos and cameras!! No economic policy, no power policy, youth empowerment nbam, infrastructure development nop.. Even d core reson pple voted for I'm boko haram still dae terrorize.. All wat naija dae experience in terms of benefits are just transformation of Jonathan, but we are experience change in terms of appointments.. Let's bet it, a time will come wen buhari will ask jambites to write Integrity test!!

Meanwhile, buhari is a nymphomaniac--- el rufai


So its buhari that borrowed the money and living a false life

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