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Wake up Gringos - Your US$ is now worth R$2.35 from R$ 1.70 two months ago!

Discussion in 'Brazil Property' started by Titan, Dec 20, 2008.

  1. Titan

    Titan New Member

    Would love to hear from others on whether or not you should take advantage of the current economy, Americans are still behind Europeans when it comes to purchasing Real Estate in the Brazilian NE.
    Back in October U$1 would only buy you R$ 1.65, we saw the dollar hit upwards of R$2.50 as the Brazilian central bank took actions to freshen supplies of the American currency.
    One more year we will have many new international flights to Brazil since the government will no longer control international fares.
    What are the Americans waiting for? :confused: :confused:
     
  2. expat2be

    expat2be New Member

    I will shed some light on this.....the Euro is worth alot more than the USD...and has been for quite some time now, that is why there is more Europeans than Americans living in Brasil or owning property in Brasil.

    The Economy in the USA is HORRIBLE, ****ING HORRIBLE Thanks in great part to george bush wasting half a TRILLION dollars in Iraq. people who don't live here don't know how bad it is....my house has been on the market for 10 months..can't sell it...trying to get a better paying job and can't do it....

    If i had the cash to move to Brasil i'd be on a plane and would never return to the USA.

    I know what the exchange rate is, and i know what properties are going for (i check daily)....thanks to the USA economy people have no money, and can't sell their houses...this is why they can't buy.
     
  3. Titan

    Titan New Member

    I would like to know where the money went... If someone bought a home and it was over priced, someone made a profit. Where did the seller put his money? Someone’s lost is somebody else’s win. Lots of money exchanged hands; I don’t think we should blame the Real Estate market crisis for this atrocious situation.
    Someday RE will go back up, hopefully not as fast as it went down.
    Today is cold here in the NE (USA) and I wish I was walking on a beach on the NE of Brazil.
    Expat2be, I just went thru the same trouble, lost many clients and had, literally speaking, no work for 4 months. I just got a job this week and can’t wait to make some money to start building on the south of the equator.
    Merry Xmas, I hope things get better for you and you can get your house sold in no time.

    Cheers!
     
  4. expat2be

    expat2be New Member

    the profit went into their bank account or got spent on a vacation property propably....i though you were a foreigner but obviously not...you know how bad it is....this county is financially ****ed....it kills me all the real estate deals in brasil i am missing out on.believe me....however its not going anywhere...somehow the USD has risen....as long as i am living in brasil before i am 40 its all good.....
    thanks Titan, i hope things get going better for you too...hopefully for me as well because i would love nothing more than too move to brasil fulltime....
     
  5. robh

    robh Administrator Staff Member Premium Member


    The exchange rate is very good if you have Euros and even though the pound has taken a bashing recently the GBP/BRL exchange rate is still a great deal better than it was 3 months ago.

    Regards,
    Rob
     
  6. Kusamba

    Kusamba New Member

    :cool:
    I think the gringos are awake with their dollars. But maybe, just maybe, they are a little bit more careful in spending them. If you pay too much, you can never get it back. Many of the prices here (Brasil) are well above where they should be. I think the aMericans caught on to that in the last couple of years and are no longer willing to pay "gringo prices". Not that all are aware of the existence of the gringo price vs. what the locals pay.
     
  7. expat2be

    expat2be New Member

    we very well know what the prices should be...however we have no money to spend thanks to george ****ing bush!!!!!!!!!
     
  8. Titan

    Titan New Member

    What about Costa Rica, Mexico, Belize, blah blah blah... to many countries to list here.
    I have been around and cannot come up with one country where I can buy "Fileh" properties for the right price. My point of view is that Brazilian's do not value what they have if they can’t afford, what I think it is bad for investment and growth.

    You go to Costa Rica and find a nice vacation home with a lot to offer but pricewise untouchable, unless you are a millionaire. We are talking about a country where you cannot try to compare… beaches, roads, shopping malls; lifestyle and infrastructure in general are not there. Mexico is a lot more violent than Brazil and even more money than Costa Rica.
    Brazil is in great shape right now, economically suffering a bad cold while most of the world is going through a bad case of pneumonia, one reason is because interest rates in Brazil have “NEVER” been “LOW” so people did not borrow what they could not afford. the dollar was low while exports were up, this was the beginning of giant baby sitting in a dark room for years trying to become independent and corageous enough to get up open the door and walk out for the whole world to see.
    Twenty years ago if you would like to buy a simple Chanel 5 you would have to ask someone travelling abroad to buy it for you, there were no imported cars, no highways being built inflation going thru the roof, politicians would not go to jail, etc.
    Be patient and give this country 20 more years and you will see what a difference one decade makes never mind four. The wheels are turning now.
     
  9. Titan

    Titan New Member

    Right Out Of The Press

    AFIRE just released its Annual AFIRE Foreign Investment Survey:

    "International Preferences: Washington, D.C. Reigns; Brazil Leaps Toward the Top ...
    With 37 percent of the vote, the U.S. was ranked as the country providing the best opportunity
    for capital appreciation. In a surprise, with 16 percent of the votes, Brazil leaped 10 places into
    the number two slot
    replacing China which fell into third place. Reflecting the recent re-pricing,
    the U.K. took a significant leap into fourth place (from ninth) and India fell to fifth place from
    third."

    Do I have to say anything else?
     
    Last edited: Jan 19, 2009
  10. robh

    robh Administrator Staff Member Premium Member

  11. MovingSoon

    MovingSoon New Member

    This currency fluctuation killed me last year.
    We committed to a purchase a couple of years ago when the exchange from US$ to Reals was over 2.5 to 1.
    Naturally the paperwork took until last fall when it was at the bottom - but had to close at the very week when it was 1.7 to 1.
    Not a big deal if it's just a few thousand, but converting and sending a large sum from the US to Brazil killed us...
    Ouch
     
  12. PPD

    PPD New Member

    Construction north east

    I am working with many building contractors in the North East and all are predicting a record year for profits in 2009. There has been a slowdown in the number of Brazilian investors but still a steady amount brazilian second home purchasers.
     
  13. expat2be

    expat2be New Member

    so how did paperwork take a year or more to complete??? WHAT? I would have backed out if it dropped to 1.7 from 2.5...thats a **** load of diference in price...
     
  14. YourNeighbor

    YourNeighbor New Member

    Hate to tell ya,... the housing market mess is unrelated to Iraq. You can blame the Democrat Congress for the housing problems. As a matter of fact --- you can blame Iraq on the CONGRESS too - they voted for it.
     
  15. YourNeighbor

    YourNeighbor New Member

    Sigh...

    If you can't compete in the real estate market, stay home... and try to leave your politics out of the discussion, please. You CAN'T find a better job, you CAN'T sell your house... What happened to "Yes, We Can" ??? Oh, I see.. everything is Bush's fault, i forgot.

    The point is, the R$ is a bargain compared to the USD. But, you can't afford diddly, anyway.
     
  16. expat2be

    expat2be New Member

    And you're so sensitive to my political views huh?

    i guarantee more people agree with me than you....Are you really so dillusional you think the last 8 years have been productive?

    and i know you're still hurting since obama won and old man mccain lost... personally i didn't even bother to go vote because i knew the outcome beforehand. i say one thing about george bush and you have to post on here and defend him like you're related or something...lol..
     
    Last edited: Mar 3, 2009
  17. JMBroad

    JMBroad New Member

    Being British and living in Brazil, because of the peaceful and fun loving disposition of the country, I have the wonderful obligation to moderate all the violent bits out of some posts (which I conveniently did on both sides of the fence, in equal measure). Three cheers for censorship...

    Now, whereas the political debate is one we could all have lots of fun with, we really should stick to real estate topics, gents - remember we are talking about the country of Samba, fun, Forró and Carnival...

    This is where people can come to (the country not the forums) to get away from the economic turmoil plaguing most of the rest of the world - lets reflect that on the forums please

    Thanks...
     
  18. JMBroad

    JMBroad New Member

    Also based in the North East, we've noticed an increase in demand with regards to Brazilian buyers for medium income primary residences too. Banks keep calling us up asking us if they can lend us some money or offer financing packages to our buyers (unfortunately not for overseas investors)
     
  19. PeixeGato

    PeixeGato New Member

    You could blame the "Democrat Congress", but you'd be wrong. I won't go any further into the cause of the housing market mess on this board because it is off topic.

    I had been looking to invest in Brazil over the last few years, but like many, we just no longer have the money available to do so. With all that's going on in Europe, I find it hard to believe that the Brazilian real estate market hasn't been fazed by any of this. Even if I had money, I'd be on the sidelines for now, waiting to see some evidence of an improved economic situation in Europe and/or the US before buying an investment property in Brazil. Now, if I were looking for a primary residence, I'd probably jump on in. Better to be there and where I want to be than sitting here waiting to be able to begin the rest of my life.
     
  20. debzor

    debzor New Member

    Well I have to say, that here it is just getting busier and busier!

    Whatever the reasons for problems and market conditions abroad, there are simply more and more Brazilians and overseas buyers investing here on the island of Itamaraca, let alone elsewhere in NE Brazil...
     
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