Thursday, September 20, 2007
I really want to comment on the dollar's value and how it will impact the local real estate market. I'd like to say that with our dollar worth so much the foreign buyers--largely assumed to be the one's driving prices upwards ;-)--are being slowly priced out forever. But I can't with any confidence.
I'd like to say that I agree with the JP Morgan analyst who says that the parity-thingy is the same as a 4.4% interest rate hike on our economy. But I don't. Rather I agree with the TD Economist that says that parity is only making inflation worse than it already is, which is already not being dealt with.
I'm really confused. I'm thinking if I had a clearer memory of 1981 (I was 6) I'd be feeling the same confusion my dad was feeling as he lost the liquid part of his business to inflation and unpaid accounts receivable. Why is this happening? Isn't someone in control?
This man has made me a lot of money in the past 2 years. I listen to what he says. But even he won't say how this will impact the economy, let alone real estate.
So the only real piece of information about local real estate that tells me how things aren't always as "torrid" as some claim them to be: Tuscany Village is still just over 50% sold. Which means they haven't sold much since I was last there, 2 MONTHS AGO, when they were still just over 50% sold.