Thailand's household debt-to-GDP ratio stands at 86% (16.41 trillion baht), highest in Asia, squeezing consumer purchasing power and driving mortgage rejection rates to a 5-year high of 50% for homes under 3 million baht. Asset Management Company BAM is responding by pivoting toward secondary housing market refurbishment and sales ("Flipper" model), partnering with refinishers to buy properties at ~1.8M baht, upgrade, and resell at 2.5-3M baht (30% margin). BAM is also launching "Rent to Own" programs to serve self-employed borrowers locked out of traditional bank credit, allowing rental payments to accumulate toward purchase—addressing both supply-side challenges (600k+ units in inventory) and demand-side affordability crises.