Euro's losses may help Cape Coral Real Estate (Bonita Springs: sales, credit)

[rikoshaprl]

For a lot of Europeans, they might look at this being the last opportunity to buy that vacation or retirement home,” said Arnold Haake, of Bonita Springs, who founded Royal Palm Bank of Southwest Florida in 2001 after leaving international banking.




“They will convert their euros to dollars quickly, which will accelerate their incentive. ... There would be a greater advantage to buy now than to wait.


Euro’s losses could be Southwest Florida’s gain | news-press.com | The News-Press

[CCfan]

Greetings from Europe!

I disagree with you. Right now you get 1,20 USD for one EUR thanks to lousy economics of our fellow south european EU member states. My friend bought a house in Cape last january when exchange rate was 1,42. Another friend of mine is planning to do the same but he will propably wait for a while to see what happens in currency market.

As soon as we see the true economic state of Spain, Italy, Portugal and Ireland I bet EUR starts to rise. China is forced to raise RMB value in near future but will they support USD remains to be seen. For us europeans this is not the time to buy now ...

Another issue is will EUR survive. My bet is it doesn't

[rikoshaprl]

Hi CC, I was just relating some info I read regarding the fall of the Euro and its possible effect on Cape Coral real estate. Now some analysts are predicting the Euro will fall to $1.00 USD. I hope you guys can fix the problems over there and that we in the US can learn some lessons.

[nhkev]

I am more than a little concerned. I think the weaker euro gives them less buying power. Compile that with the homebuyer tax credit expiring, the oil spill looming out in the gulf, unemployment throughout the entire country hitting a wall, the stock market dropping 15%, and this is also going into the slowest season for realestate sales in swfl. We did not get the lift normally associated with the season , if there was ever a time when I thought the market would stall it is now.

[rikoshaprl]

The only possible positive I see is that investors are running out of places to put their money. Real estate usually is a hedge against inflation. It is a real asset that shouldn't drop the way currencies do.

[KasperFile]

Originally Posted by rikoshaprl

The only possible positive I see is that investors are running out of places to put their money. Real estate usually is a hedge against inflation. It is a real asset that shouldn't drop the way currencies do.

Replace “usually” with “use to be”, the game has changed the way these gov are mismanaging resources and involving themselves in the markets now a days it may be a long time before you can count’s on anything as a safe investment. Cash and gold is king now

[rikoshaprl]

IMHO cash long term will be a terrible investment. Inflation will erode its value. I agree with you on gold, which is a hard asset like real estate.

[CCfan]

Originally Posted by rikoshaprl

I agree with you on gold, which is a hard asset like real estate.

Me too. We bought a house in Cape little over a year ago, and as an investment in long term I think we can't go wrong with it. That wasn't the reason why we did it, we just like Cape very much.

Our first plan for a second home was a villa in Spain or Portugal, and based on recent economic disasters on both countries we were lucky to end up in Cape. We all are facing tough times, but those areas are in a deep s**t ...