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Stan Rogers
Joined: 20 Aug 2010
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jvalmer
Joined: 06 Jun 2003
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 Posted: Fri Oct 24, 2014 6:37 am Post subject: Re: Do Koreans Really do This? |
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| Stan Rogers wrote: |
| Are they afraid of banks? |
Asians in general, especially the older generation. Just say Asian banks have a history of going belly-up, and wars tend to cause a lot of chaos, and no way for the average man to recover their cash. So, literally keeping the cash in your mattresses was probably safer than in a bank.
One reason at one point in time in the early-90's that Vancouver was the capital of home invasions. The Chinese kept huge amounts of cash in their home. I'm willing to bet Korean-American shop keepers probably kept a lot of their cash at home until the early-90's too. |
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Died By Bear
Joined: 13 Jul 2010
Location: On the big lake they call Gitche Gumee
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| Posted: Fri Oct 24, 2014 7:31 am Post subject: |
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| The Chosun Ilbo? Owned by the Chaebol who are married to the owners of the media? You trust those guys? |
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KimchiNinja
Joined: 01 May 2012
Location: Gangnam
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| Posted: Fri Oct 24, 2014 3:09 pm Post subject: |
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| Obviously this article is about the velocity of money (essentially consumerism), not literally putting money under a mattress. Perhaps they are starting to save more... |
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northway
Joined: 05 Jul 2010
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| Posted: Fri Oct 24, 2014 4:04 pm Post subject: |
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| KimchiNinja wrote: |
| Obviously this article is about the velocity of money (essentially consumerism), not literally putting money under a mattress. Perhaps they are starting to save more... |
Koreans save plenty. Buy an apartment and watch it appreciate = savings!!!! |
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Roman Holiday
Joined: 22 Sep 2014
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| Posted: Sun Oct 26, 2014 12:50 pm Post subject: |
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Japan experienced low inflation for several years in the early 1990s before deflation got properly underway. Inflation in Korea has been at below two percent for 23 consecutive months.
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It was always about deflation.
Assets prices go up, then they come down. How many people have cash in the bank? And then what kind of cash?
To survive deflation:
Have modest debt free assets/ property
Have cash in the bank [in various currencies including gold this time round]
Have a job/ income. |
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atwood
Joined: 26 Dec 2009
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| Posted: Mon Oct 27, 2014 12:07 am Post subject: |
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| KimchiNinja wrote: |
| Obviously this article is about the velocity of money (essentially consumerism), not literally putting money under a mattress. Perhaps they are starting to save more... |
Perhaps you were wrong about the economy being in great shape. |
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Stain
Joined: 08 Jan 2014
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| Posted: Mon Oct 27, 2014 8:11 am Post subject: |
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| northway wrote: |
| KimchiNinja wrote: |
| Obviously this article is about the velocity of money (essentially consumerism), not literally putting money under a mattress. Perhaps they are starting to save more... |
Koreans save plenty. Buy an apartment and watch it appreciate = savings!!!! |
As an ex-appraiser, I've never seen properties in an expanding area depreciate so badly. Location means nothing here. Only the newest construction matters. I will never invest in real estate in this country, unless you're talking about land, the price of which is out of this world. |
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Lucas
Joined: 11 Sep 2012
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| Posted: Mon Oct 27, 2014 3:16 pm Post subject: |
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| As an ex-appraiser, I've never seen properties in an expanding area depreciate so badly. Location means nothing here. Only the newest construction matters. I will never invest in real estate in this country, unless you're talking about land, the price of which is out of this world. |
I like the fact that location means nothing here.
Similar crime rates (low), standardized text books in schools, teachers move schools every 3 years or so. Restaurants EVERYWHERE, never far away from a hospital if you live in a city.
Public transport is generally good and CHEAP. |
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