But seriously, I really can't understand how people can buy a condo in the PH at all.
For some of those of us married to a Flipina and who can afford it, it is an easy choice, instead of spending our money on rent, we build equity in a place for our wives to be able to call home now and should they wish to move back to the Philippines when we are gone, my wife does, it also gives us a place to stay and leave some of our personal items for vacations, so as to not have to carry them back and forth.
We own ours since 2007, so going on 10 years now, what I saved in rents and convenience has more than paid for the units and I had been offered double what we paid for them, will that be the case 10 years down the road if someone buys now, it is anyone's guess but in 2007, I was on this very forum basically being told the same thing you are trying to tell others, do you have a crystal ball, I don't, but so far in my 68 years of life, I have never lost money in real estate and in fact have made a lot of money owning rather than renting and many of those who were nay sayers are still renting, IMO basically flushing their money down the toilet all these years.
Conversely to ownership is what a person could do with the money to earn more money but in my case I have always lost my shirt in the market and always made money in real estate, so in my case it was a no-brainer for us, ymmv.
Also for those of you who may not know, I have found that most Filipina feel much happier when they know they will have a place to live forever should they wish to, stability is important part of their life and from what I have seen, it makes for a much better marriage too, happy wife happy life.