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  1. #1
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    Default is DR falling apart???

    I am suppose to take ownership of a condo in Punta Cana on Friday.... from all I'm reading and hearing... it sounds like the DR is falling apart... exchange rate 53+, propane and gas strikes... any feedback from you view down there is greatly appreciated.

  2. #2
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    Unhappy Yes

    I agree. The DR is falling apart. Long live the DR.

  3. #3
    El Mujeron
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    Default

    Rahim, the DR has been 'fallin apart' since the dollar used to be exchanged at $6 pesos... If it does fall apart, the only thing that holds up is property, so you should be ok. Dont believe the hype...
    Last edited by Talldrink; 01-26-2004 at 04:22 PM.

  4. #4
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    Default Hype?

    There is no propane.There is no gasoline. There is no diesel. No Diesel to run my gnereator, which I need to run because there is no electricity. Everything from building materials to corn flakes are up nearly 300% in the last year.

    Hype?

    How do I live? And I actually have money! The government is blocking people who have products, gasoline,propane, etc, from selling them bercause the lambones who rely on government subsidized wholesalers, don't. And they don't just because the 'government' won't pay it's bills for products purchased.

    Hype?

    It's not hype. This place is going to go BOOM! very quickly unless the government gets out of the marketplace. Hopefully that will before I can't find any gaoline to go buy milk,pampers, and food for the children.

    Tom (aka XR)

  5. #5
    El Mujeron
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    Default

    Alright Tom, I feel your pain.... Sorry for using the word. I wont say it again... I'll be quiet in my corner.

    I am really sorry you guys are going through all that. My mom is going through some tough times herself. She also needs energy to run her machines and the gas for the planta is bullistic.

    However, all the advice she gets is to take her capital and invest in property in case whole Coralito thing happens, which is what Rahim is doing...

  6. #6
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    Default

    Tom is a newcomer, Talldrink. His perspective is just what has happened during the past couple of years. But you are right, there has been one crisis after another for a long time. When I came to the DR in 1986, the peso was about 2 to 1. Although the present fall of the peso has been more dramatic than previous ones, there have been some big changes over the years and the doomsayers all predicted the demise of the DR.

    But somehow the country manages to muddle through these crisis and I believe it will this time, as well. Living in the DR is not for the faint hearted.

  7. #7
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    Default

    If you can't stand the heat, well you know the saying. You'll find me in the kitchen.

  8. #8
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    Default

    I understand that real estate is the best place to have your money in the DR, and I gather that prices are at their peak. But I wonder whether all the bad publicity is scaring away some potential international buyers. Just as the poster was worried about jumping in, won't this sentiment eventually have an effect on the market? - D

  9. #9
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    Default

    Where did you hear that prices are at their peak? This is not true in Sosua.

  10. #10
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    Default

    Am I wrong? I guess I got that impression from Scott's (and others) posts, and also from Juan Perdomo's people. Am I wrong? What is the state of the real estate market in your opinion? I'm considering a somewhat overpriced condo in Sosua. I am willing to overpay slightly for something if it's unique or exactly what I want, but not if it's a white elephant. If the bad news is scaring the high end foreign buyers away (as I suspect is possible), I'd like to know. - D

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