http://ntt2k.info

I’m definitely not a type of politic person. At my age, old people usually think of us as careless and all young people do are having fun and party all year round! ^^ (as what I used to ^^)

I usually waste my time by reading and blogging about technical stuffs. But today I found this guy share the same background like me: volunteered in military to have money for college, travel around the world. Only different is he’s American working in Vietnam and I was Vietnamese immigrated to U.S.

Surprise he has been living and working in Vietnam for almost 5 years now, so what he said as foreigner should be consider trustworthy. Regardless the political view, after a little email back and forward, I think I have to start to save some money and come back to visit my motherland. @!@

Here’s the email:

“Saigon 3 years ago was more stable than it is today.  Development is out of control, graft is increasing.  I think you will see many Expats and educated Vietnamese go overseas for 5-10 years…”

and through his blog (http://saigonnezumi.com):

“In Saigon these days, where ever you go you will see another new building popping up somewhere.  In fact, the construction may be getting out of control.  Vietnamese call this progress but I worry that a Thailand-like real estate crash may be on it’s way to Vietnam.  The media here seem positive about the economy in 2010 but the reality is quite different.  That is all I will say about it…”

Follow the trail blog, it would be very interesting to think about development, control and the law of supply and demand in business that we are all familiar with:

“A bit reminiscent of the news out of Dubai mixed with the news from China. THere are way too many completed, empty office buildings littering the skyline. I can’t imagine a better time to be looking for top-end office space in HCMC. Even the most prestigious downtown buildings downtown have vacancies now. A few years ago there was a supposed shortage, now there is a glut, with many more on the way, nearing completion.
Meanwhile Vietnam is having trouble pricing their bonds where they are salable. The market is seeing more risk here than the government is willing to admit, therefore only about a third of those proffered are being purchased. This is potentially a problem and the exchange rates reflect this issue.”

“The question is who has the money to pay the enormous rent in areas such as District 1 anymore. Notice how nobody mentions the word ‘glut’ in the English papers anymore. There is an anticipation that somebody will rent the places. You would expect prices to drop on all rents but they seemed to have gone out. What happened to supply and demand here?”

“One just wonders who is buying these buildings? I wish they would stop pick pocketing all the foreign loans and start build something which would benefit the country instead.”

Come back to the U.S:

Not to mention as in the U.S right now, thing are not getting better either! I’m afraid that we have to go through the double-dip recession (U.S Reuters) now. @!@

I wonder when are we going to get out of this mess? @!@

Regard,

Trung Nguyen

http://ntt2k.info