Good morning folks,
I have a horse in this race. I would like to buy a house in Santo Domingo. I've been looking for over a month now.
My thinking is, if a certain side wins/loses, the tassa may change drastically in the next 6 months.
I'm just not entirely sure if that's a good thing or a bad thing.
If the peso drops in value, in rush in a bunch of Dom Yorkers with their dollars, and all of a sudden I'm competing with more people to buy a house. On the other hand, if the peso drops in value, local people get pinched by the cost of living increasing due to the increased cost of imported goods and petrol, this will in turn put those 'pinched' people in a situation where they can no longer afford their mortgage payments etc.
Those of you living here last time the exchange rate went to 50, which of the above 2 scenarios were more likely? what was the effect on house prices?
Best Regards