Narco Trafficking in Trinidad

[pioneer]

drug traders gon trade

If they even try to cripple the narco-economy, many actually MOST private congolomerates will shut down and many people gonna be unemployed.

[pete]

Combined income of $20k would barely get you a $1.2M house, cept with over 200k downpayment.

Then again, who really wants to be paying $6500/month for the next 25 years?

[Conrad]

Trinis love to cry, while there is substantial poverty in T&T, we are much better off than we think. We love to compare ourselves with US,UK and Canada, but compared to any other independent nation in the region, we doing quite well. Only Barbados and Bahamas outperforming us and they are not a 30min boat ride from Venezuela.

Car ownership in T&T proves to me that there are significant ppl in T&T that make at least $8-10,000 and could find a mate who can earn the same or even more and with that they can afford a 1.2 million dollar 4 walls and a roof which in 10 years they will expand into 5 bedroom with a larger kitchen, living room and extra bathroom.

I won't disagree that Trinis love to cry except that crying believe it or not isn't unique to Trinidad just as you pointed out even poverty isn't limited to Trinidad. Again I say, there are people right here in Trinidad who are experiencing poverty and don't even know it. The cost of living is high right here in sweet TnT and while the honey flows it may not appear that most are badly off but WHEN that time comes a la late 80's only the staunch would come out the other end of it better off. Perhaps with those very same assets that many would have to sell off when they realise they could no longer afford their minimum payments.

I'm not saying the drug trade is the be all and end all, I'm saying it has a BIG effect and it's not as simple buying up real estate. It's so much that you have to wonder, just how much does our economy depend on the drug trade...and believe it or not, them lil' US$ the boys does be working for down Petrotrin ain't much..


Inflation vs Economy growth

Money hadda be coming from somewhere for such high inflation to continue from year to year and people still floating like normell.

[pioneer]

Ole indian people were wise, instead of buying benz and royal saloon back in de days...they bought parcels of land for a few hundred dollars with every bit of cash they had and continued riding donkey cart or bicycle to work.

Everyone laughed

Today that same land is worth millions

People who laugh now hadda beg bank for loan.

[Habit7]

Car ownership in T&T proves to me that there are significant ppl in T&T that make at least $8-10,000 and could find a mate who can earn the same or even more and with that they can afford a 1.2 million dollar 4 walls and a roof which in 10 years they will expand into 5 bedroom with a larger kitchen, living room and extra bathroom.

what is the qualifying income/downpayment/installment for a car versus a house? That comparison is moot

I think you misunderstood me, in order to buy a showroom new car (+$160,000) you need to make at least $8,000. So the subset of those who earn this and choose to buy these cars, shows how big the set is. And if two of these individuals combine their income, they can afford a modest home.

Please note I am referring to those who meet the bear requirements. This is not to forget those who earn +$10,000, receive an inheritance, receive parental 'help' or take a no or reduced downpayment mortgage.

The cost of living is high right here in sweet TnT

Compared to where???

[Rooki3]

Ole indian people were wise, instead of buying benz and royal saloon back in de days...they bought parcels of land for a few hundred dollars with every bit of cash they had and continued riding donkey cart or bicycle to work.

Everyone laughed

Today that same land is worth millions

People who laugh now hadda beg bank for loan.

exactly

like i said real estate is our greatest currency, one of the few ways $$ wrks for u effortlessly

real estate aquisition > money hoarding

[TRENDSETA]

Combined income of $20k would barely get you a $1.2M house, cept with over 200k downpayment.

Then again, who really wants to be paying $6500/month for the next 25 years?

take into account if you're presently able to earn lets say 10k now
Chances are over time you'll move into a higher earning bracket at which point 6500 is moot
all of this is provided you willing to make sacrifices now for a gain later

[Conrad]

Combined income of $20k would barely get you a $1.2M house, cept with over 200k downpayment.

Then again, who really wants to be paying $6500/month for the next 25 years?

take into account if you're presently able to earn lets say 10k now
Chances are over time you'll move into a higher earning bracket at which point 6500 is moot
all of this is provided you willing to make sacrifices now for a gain later

Providing one continues to earn a living even throughout recessions, down-sizing, company liquidation and simple lose your wukk and the financial institution doesn't reclaim your asset to pay off your loan.

[pete]

What is the gain later?

Yes you may get up into a higher bracket but what happens if one person loses their job? Or the country goes into another recession?

What happens when the government gives out the thousands of HDC houses and continues to build more?

While real estate may have been a great investment in the past, that doesn't mean that it will be as profitable in the future.. what people look at as a huge increase in land value over the past 50 years it seems they now want that to happen in 5. Roystonia houses that cost what.. 300k originally are now 750k+ after 10 years? in 10 years do you think you can sell that for 2M? Who will be buying houses for $2M then?

[TRENDSETA]

... well yeah ...there is THAT

[Conrad]

The cost of living is high right here in sweet TnT

Compared to where???

Fuel is cheaper.
Electricity is cheaper.

BUT WE IMPORT EVERYTHING


Cost of living is high everywhere bruh

You already strike off every where in your previous post so I'm not allowed to say US, Canada, Barbados and Bahamas. Even they have high costs of living but people in their 20's are buying homes

We're looking to identify the issue and hopefully someone with the ability would take the necessary steps to fix it OR we're looking to see where's the next best place to live (somebody say people going Canada complaining of victimisation? )?

[eliteauto]

hopefully the next Gov't will distribute HDC houses and not play politics with it, whilst having HDC construct high-end houses in central for party friends and convert apartments to 2 bedroom luxury suites for friends in Diego.

[Rooki3]

Conrad, average trini makes good $$, but they too busy tryna keep up with d jones', rather "pose" in things that aren't necessities, then when they hit their 30's, they start having buyers remorse for all chit dey cud have done without, burns them deep down inside when they see their pairs moving up the economical ladder, dais when the "crying" steps een, then theu start to cry race this & that & how the "system" keeps dem dong

[Conrad]

Conrad, average trini makes good $$, but they too busy tryna keep up with d jones', rather "pose" in things that aren't necessities, then when they hit their 30's, they start having buyers remorse for all chit dey cud have done without, burns them deep down inside when they see their pairs moving up the economical ladder, dais when the "crying" steps een, then theu start to cry race this & that & how the "system" keeps dem dong

I hate to say it but that sounds more like a particular group of dwellers than "the average trini" if you know what I'm saying.

[Rooki3]

all i saying nobody really have d right to complain, "hard times" only exist to those who wants to be there, property prices locally is "OK" esp for the kinda $$ that floating around

[bluesteel29]

iz fellas u dey wit

since wen n...ogs censored

[Rooki3]

[AGENT RORO]

I think greedy people keeping the prices up

Sorry let me correct that Some Real Estate agents

Correct on both points.

[teems1]

Land prices have skyrocketed.

People are calling 300-325k per lot with no approvals and undeveloped in Cunupia/Longenville/Charlieville/etc.

Land with approvals in up and coming developments are 600k+ per lot.

Stush areas (Lange Park/Valsayn North/etc) it's 1-1.5m per lot.

In the West I don't think anyone sells land alone.

Insane prices..

[pioneer]

You all need to understand how money launderers use dirty money to build these big houses or housing developments/apartments that nobody occupies to understand the point of the article. This has nothing to do with real estate agents or greed.

Eg. Woodbrook One...who lives there?

[pioneer]

Dirty money>offshore bank accounts>apartment complex>local bank>loan>expensive apartment>nobody "buys" it>units "sold" for 1/10th the asking price>Sale recorded as asking price

Smart people can figure this out.

[pete]

You all need to understand how money launderers use dirty money to build these big houses or housing developments/apartments that nobody occupies to understand the point of the article. This has nothing to do with real estate agents or greed.

Eg. Woodbrook One...who lives there?

I actually met someone who lives there. But he was working for an oil and gas company.

[pioneer]

or hor...nuh de normel chini den

[Rooki3]

u saying one woodbrook place was financed from the earnings of $$ laundering

[lalloboy101]

here i was thinking that it was all of the returning residents and expats with dey foreign currency were the ones holding up the real estate market. what i noticed a lot homesellers doing is calling crazy prices, when you ask them where the valuation. most of the time i get, nah dat is how much i feel it worth, i just going by market value.
Take stock of whats happening, homes are quoted now is USD and CDN, de phoq, i does forget where i living sometimes yes.

[pioneer]

Really sucks most of ya'll ancestors didn't buy land for cheap long ago.

[pete]

u saying one woodbrook place was financed from the earnings of $$ laundering

Well it was financed by the many many people who were fooled into thinking clico was using their money wisely.

[pioneer]

*whistles*

I does jus LOL@ these politicians who claim they gonna stop laundering

What Duprey did in the caribbean, if he did that in the US, he would have never seen daylight again.

[Death-Row]

cant beat em, join em.

trinidad reminds me alot of miami back in the 80s or so, in terms of crime, drugs etc.

[kaylex]

Ole indian people were wise, instead of buying benz and royal saloon back in de days...they bought parcels of land for a few hundred dollars with every bit of cash they had and continued riding donkey cart or bicycle to work.

Everyone laughed

Today that same land is worth millions

People who laugh now hadda beg bank for loan.

While what you say indeed has merit... alot of the acreage owned today is as a result of land grabbing in the first instance....

Taking acres in lesser developed communities and then getting letters of comfort which becomes common place after 15 years or so years...

Who grab the most land had the most vision... I agree but dont come here saying they buy the land from inception..
CASHEW GARDENS is just today.. but that practice started before our time..... and who grab the most land???