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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: THE ANT who wrote (79559)	9/13/2011 12:23:12 PM
From: Maurice Winn	Respond to of 219512

The same thing applied to New Zealand 11 years ago when I advocated exactly that to jfred in SI [posts still there somewhere]. Except that it wasn't so extreme as Brazil - more like half or a third the price here: <Trade one 400K house in US for ten 40K homes in Brazil of same quality--live in one rent nine)What is amazing is how so few saw free money dangled in front of their faces.We sure are herd animals(sheep) > The problem is most people can't move and laws make buying difficult. And it's illegal to go and live in the USA or just go to NZ to live. Managing property remotely is difficult and costly. I also wanted to buy an apartment in Beijing about 7 years ago [only NZ$180,000 for a 3 bedroom penthouse only a kilometre from the main station in the best area [normally half to a third that price]. It needed fitting out, but that wouldn't have been very expensive. It got too hard and I ran out of time. Same in Bangalore in 1997. Now, the reverse applies - sell overpriced houses in NZ, swap high priced NZ$ for US$ and buy a few houses in USA. In most areas, house prices have fallen in NZ but plenty of areas have still not moved down at all. It's surprising how far economic moves go before they correct. Mqurice