at 2007.09.10 17:19:16 UTC 1$ = 2199

poco says on Sep 10, 2007, 15:57:

Hummm,,, if you bought a 100,000 dollar house in Colombia 3 months ago when the peso was about,, what?? 1900 ??

You have lost about $15,000 in 90 days or $5,000 per month or $166.66666666666666666666666666667 per day.

Then again, you could have put the money on the line in Vegas and lost it all but you could live in your car in the U.S. I doubt this is practical in Colombia.

"Violence is the first refuge of the incompetent" - Isaac Asimov

nine inch nails says on Sep 10, 2007, 19:32:

Ouch!

get down, get down. are you afraid of the boogie monster?

timeforachangeofscenery says on Sep 11, 2007, 10:24:

That should read.......if you bought a house 3 months ago in colombia when the peso was 1900 and then SOLD it today at 2100 pesos, you would have lost $15000.

If you decided not to sell it today, then you'd still have your nice house.....rentable for pretty tidy return.......live-in-able at your leisure and appreciating in value year after year.

If you kept holding on to it, You would have a place to grow old in and perhaps hand down to your grand kids after you're gone.

Then your far off descendants would be able to trace the origins of their wealth and relative comfort to their forward thinking ancestoral beneficiary who refused to sell his house when the dollar went up so that he could blow it all in Vegas and move into his car.

I guess I'm a glass half full kinda guy.

Take care

Tfacos.

poco says on Sep 11, 2007, 16:32:

---If you decided not to sell it today, then you'd still have your nice house.....rentable for pretty tidy return----

Humm,, So what if a person bought one TODAY ???? The same house would cost $85,000 or you could upgrade.

Oh,, need to finance ? Good luck.

$100,000 has a safe return of $6,000 per year in the U.S. and that $6,000 would rent a nice place in Colombia and you would have the $100,000 available.

Rent high end homes with a "tidy" return ?

I do NOT think so. A home WITH a return needs to cost less than 20 million, after that you lose money but maybe the cities are different.

More than likely you would LOSE money every month and probably quite a bit. Add in, the collection problems and maintenance etc.

"Violence is the first refuge of the incompetent" - Isaac Asimov

nine inch nails says on Sep 11, 2007, 18:40:

Those are nice calcs. A plus to purchasing if the numbers are right (all the money towards principal any rent less everything else) is how often you travel there and then how much would be saved on hotels also.

get down, get down. are you afraid of the boogie monster?

Robert Jorge says on Sep 11, 2007, 20:57:

I saw the exchange rate was over 2.21 today.

--"I believe in making the world safe for our children. But not for our children's children, because I don't think that children should be having sex." - Jack Handy