- Thread starter Malibook
- Start date
This place is muy caro!
Prices dropping
Some things have dropped. Concrete is now 150 pesos down from 210 pesos. That doesn't account for half the loss for people with US dollars nor does it reflect the percentage of the strength of the peso.
Right now it is very costly to build a home or anything else if you have dollars. Hope it changes by February latest so I can get back to work. If not I will consider moving to London or NYC to save some money
It is "Almost" NOT a joke.
Escott
Some things have dropped. Concrete is now 150 pesos down from 210 pesos. That doesn't account for half the loss for people with US dollars nor does it reflect the percentage of the strength of the peso.
Right now it is very costly to build a home or anything else if you have dollars. Hope it changes by February latest so I can get back to work. If not I will consider moving to London or NYC to save some money
It is "Almost" NOT a joke.
Escott
What i am reading is that the peso is recovering and at the same time the costs of goods and services is going up or not being readjusted to previous levels.
Did all of you think that everything would continue, and continue to worsen?. Did youse not invest at 35-50 %, dollars to pesos when the banks were offering those rates as recently as 6 months ago?. Possibly, you may have been too busy " high fiveing " each other for having $ dollars and exasperating the then existing situation.
Believe me, I am not gleefull over those being cought in the squeeze of having purchased real estate in dollars, the hyper inflation of electricity, cost of good and services, etc., coupled with the robust recovery of the peso.
Like any investment/financial choice it is always appropriate to consider and implement some sort of hedge.
For what it is worth I started buying peso accounts when the exchange rate was 16-20 to the dollar and bank interest was 20-30 pesos. As I got slammed I continued to buy at approx the rate of loss on the belief that the life and life style available in the DR was still worth it. And that stability would prevail dispite dishonest govt.
Of course, Baniter was not a perceived part of the equation. Nor the extent that Mejia gov't would go. Still, I am above water and thats not bad.
John
Did all of you think that everything would continue, and continue to worsen?. Did youse not invest at 35-50 %, dollars to pesos when the banks were offering those rates as recently as 6 months ago?. Possibly, you may have been too busy " high fiveing " each other for having $ dollars and exasperating the then existing situation.
Believe me, I am not gleefull over those being cought in the squeeze of having purchased real estate in dollars, the hyper inflation of electricity, cost of good and services, etc., coupled with the robust recovery of the peso.
Like any investment/financial choice it is always appropriate to consider and implement some sort of hedge.
For what it is worth I started buying peso accounts when the exchange rate was 16-20 to the dollar and bank interest was 20-30 pesos. As I got slammed I continued to buy at approx the rate of loss on the belief that the life and life style available in the DR was still worth it. And that stability would prevail dispite dishonest govt.
Of course, Baniter was not a perceived part of the equation. Nor the extent that Mejia gov't would go. Still, I am above water and thats not bad.
John