Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: GraceZ who wrote (17189)	3/21/2002 5:56:21 PM
From: elmatador	Read Replies (2) of 74559

THE VALUE OF THE "ASSET" HAS NOT INCREASED A NICKEL!!! Prices are today in the real estate market here is -still- between USD800 and USD1500 per M2. I bought it during the hyper-inflationary days when the demand for bricks and mortar was heavy, since there was a lot of money seeking this type of hedging. Paid USD32.500. An apartment is sold in this market completely naked. You've got to put on lighting, curtains etc, etc. I installed double glazing, wooden flooring, new kitchen, installed heating, all cabling for Cable TV and computer network and other improvements that it raises its value to about USD60.000. Today it sells for R$100.000 (Brazilian Reais). Which is USD42.800. Checked one of them that's for sale today. That without adding all the improvement shared by all tenants it would be much more than those R$140.000. Thus my conclusion the only value this place has is to serve as a home. It is something like getting married. You acquire a lot of stuff that doesn't make much sense under a pure econometric perspective.

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