Spanish Property Insight › Forums › Spanish Property Forums › Spanish Real Estate Chatter › Time to invest in the USA?
- This topic has 34 replies, 12 voices, and was last updated 15 years, 7 months ago by katy.
October 26, 2007 at 9:15 pm #53428
I have been looking around about prices in the USA and I have found that you can find, for example, a luxury two flat property in a beautiful resort for about 179.000$ in Orlando, Florida ( 87.000 pounds!!!!).
You can see some of them in the irish web site daft.ie, overseas link.
Is the devaluation of the dollar and the collapse of the real estate in EEUU a opportunity for the people with a lot of pounds of euros in cash?
I think is a very interesting question. What do you think?
October 27, 2007 at 8:46 am #75885
In history this is when the big money is made. 😆 or lost 😥
At this point in time no one really knows just how bad the sub prime lending situation is.
If for instance by the time we find out that its not as bad as expected then the big boys will already have dived in and made their fortune.
It would take a brave person to take a chance but its very interesting point you have made and you can be sure that there are thousands out there thinking the same.
On another matter though similar the I.M.F say that the U.K market is as much as 40% overpriced with up to 9 times earnings.
Now which do we sell and which do we buy?
As they say buy low sell high 😉
October 27, 2007 at 8:58 am #75886
Orlando is in the same position as the CDS. Lots of apartments built, Brits pulling out as they wanted to rent to pay their mortgage. (apartments well away from Disney are impossible to rent!) add high yearly taxes.
Gulf coast for pleasure…they are a snip just now, much more for your money then CDS, and better winter weather 8)
October 27, 2007 at 9:11 am #75887
Would luv to go for a property there as its great.
Fact is that for many Brits and Europeans its a long way to travel to and many have sold as they were not using them.
Also moving out there permanent is a difficult option and as far as prices are concerned it has always appeared much cheaper the U.K market.
The advantage for Brits and the C.D.S is travel time and the option to reside.
October 27, 2007 at 10:41 am #75888
and let’s not forget the hurricanes either…
October 27, 2007 at 11:20 am #75889
Excuse me all for my english. What does mean CDS?
October 27, 2007 at 11:45 am #75890Black_PearParticipant
CDS = Costa Del Sol
October 27, 2007 at 12:02 pm #75891
October 27, 2007 at 1:58 pm #75892PaulBlocked
I would definitely buy/invest in the USA but only if they relaxed their rules on living there for Brits. etc.
I won’t buy anywhere that restricts visits and therefore living to 90 days (although I think this can be extended to 180 days). Why support their economy and housing when they have such stringent restrictions?
I thought Florida was going to let people from the UK retire there but don’t think it’s happened.
October 27, 2007 at 2:34 pm #75893
You can only extend if you have a B2 visa and they are very strict about issuing them. No retirement visa 🙁 Think if there were, many would have moved from spain.
October 27, 2007 at 4:00 pm #75894
I refuse to give my finger prints at the airport. Besides the roots of the western civilisation is in Europe.
I cannot subsribe to spending holidays/or investing in a paranoid society. Not to mention the ease of purchase/use of guns.
It may sound Alien to forum users but money can be made without selling one soul or concious. The weakness of the $ can be exploited by way of investing other Countries whose currency is tied to the $
October 27, 2007 at 4:48 pm #75895
Yes, for example in Ecuador. There you can find good properties from about 50.000$ (25.000 pounds) but the insecurity in these type of countries dont make this a good destination for long term residence.
October 27, 2007 at 9:24 pm #75896
I meant places like Costa Rica, Dominic Republic, Mexico, Bahamas, etc.
October 28, 2007 at 9:58 am #75897
We have bought in Spain earlier this year but would have been Sarasota in Florida but form the length of the flights. USA gives a lot more property for your money and I would say a lower cost of living but 9 hours each way outweighs the advantages. However where we have bought in Spain is a great second.
October 28, 2007 at 10:04 am #75898
One pros of buying in the USA is that your family can find more easily a good job. For example in the USA a computer developer can earn between 50.000$ and 100.000$ year depending of experience.
October 28, 2007 at 1:51 pm #75900
Thank-you for the party political broadcast shakeel. Could I suggest that you find a more suitable forum to air your anti-american paranoia. There is a reason why we log onto the spanish property forum -the clue is in the name.
& while I’m at it -have you ever heard of spellcheck?
October 28, 2007 at 2:40 pm #75901
The most difficult thing in the USA is getting a green card to be able to work. When I spend time in florida I am very happy to give my fingerprint and the eye recognition thing. Pity Europe doesn’t use it!
October 28, 2007 at 2:59 pm #75902
As I know the EU is preparing a similar card in order to attract to Europe the best cualified professionals that actually are going to EEUU, Canada, Australia and New Zealand.
I also have heard that getting the green card is a really complicated task with a lot of papers to complete.
October 28, 2007 at 4:48 pm #75903
October 28, 2007 at 5:11 pm #75905
You are welcome forest fire. I am simply stating a fact about the American society. Sorry if you a member of the poodle club.
Yes, it is a Spanish forum. If you have not read, Peterpara was trying to bring to attention the investment opportunities that has arisen in USA, due to the weak $.
I am entitled to my opinion like you are. The difference is that unlike you I do not get personal.
October 28, 2007 at 5:24 pm #75906
Not a bad idea buying in the US but the annual service charges are quite expensive, but you get what you pay for and then the tax when you sell as a non US is high….
October 28, 2007 at 9:03 pm #75907
USA is a very good place for tourism but not a good one for retiring. I am also afraid about long flights.
Excuse me all for introducing this question in a spanish property site but I thought it was an interesting one as the number of responses states.
October 29, 2007 at 9:00 am #75909
It is not only USA where anual service charges are high they can be high here as well ours at the moment are 3600 euros.
October 29, 2007 at 6:20 pm #75923PaulBlocked
🙂 IMO, I think property in the States is far better value for money, generally better finished, larger, often inclusive of pools and lots of goods etc compared with Spain, especially at $2 to a £1.
I’m sure lots of Brits would move/buy there if the US would allow it but can’t see that changing.
October 29, 2007 at 10:28 pm #75929
Not only 1 pound is 2 $. Today it has reached 2.06 and it seems reasonable if this anormal situation continues that 1 pound would be 2.5$.
If the pound reaches this incredible level it would be very interesting to invest in a property in the USA unless BCE and BoE starts decreasing interest rates because the export of good will suffer severely.
October 30, 2007 at 11:05 am #75942
So it’s ok for you to slag off an entire country but not for me to pick up on it? Is that how it works on Planet Shakeel?
Is it a fact that when you purchase a property in the states you have to pay with your soul or “councious”? Really? So who performs this transaction? The realtor, the local tax office maybe? Or could this just be bigoted nonsense?
October 30, 2007 at 11:28 am #75947
Thank-you for the party political broadcast shakeel…. while I’m at it -have you ever heard of spellcheck?
Bigoted ‘nonesense’? 😯
Don’t use the spellcheck much yourself then?
P.S. ‘Thank you’ is not hyphenated.
October 30, 2007 at 11:39 am #75949
Thank you for that Charlie, I stand corrected.
October 30, 2007 at 4:07 pm #75958
I do not slag of the whole Country. I do have some very good friends there. I stated that I will not give my finger prints at the airports nor do I wish to be in a paranoid Country. In a country where one shoots first and talks after words. It is an ethical investment decsion that I have taken.
When, I visit a country I use their hotels, bars, clubs, shops, car hire etc. make new friends revive friendships, thus extending warm’th and friendship in the global village that we live in and I am extremely comfortable with it.
You may not know that last week an UK labour member of the Parliment was held at Dallas airport for two hours of questioning. I leave you to guess what his relegion is !!! this was not reported in the broad sheets or on TV.
The American tourist department has noted a drop of millions of tourist,, despite of the weak $ and are concerned as to the reputation of the Country.
October 30, 2007 at 4:15 pm #75959
Well I read about the MP. have actually met him and know of him, seems so do the USA homeland security. 🙄
October 30, 2007 at 4:36 pm #75960
Can you please tell me whic paper did you read it in ???
“seems so do the USA homeland security “.
Can you please expand on this as I am lost as what you trying to convey.
October 31, 2007 at 12:10 am #75979
As a lifelong USA resident I think Shakeel raises a valid point, one that does affect the desirability of buying real estate here. Safety includes many things, not just the likelihood of being mugged or shot but also how safe you are if you suddenly get sick and must attempt to use our health care system. Also some people feel unsafe when they are approached by the homeless, religious proselytizers, or the many untreated mentally ill, etc., all common experiences here. Many cities have incredibly dangerous districts that you may not know to avoid. Additionally I have friends in Florida who have given up their beautiful condo because the hurricanes hit them so often they couldn’t get rid of the mold, and it was too much to deal with. While the exchange rate is clearly a big plus, there are also these things which can be a legitimate down side for many people, and should be factored rationally into any decision concerning real estate. There is not a “safety net” here compared to most developed countries, and that has the potential to become a problem for any visitor. You need to be a little bit prepared for the jungle. No bashing intended, just a view of the big picture. There are some good reasons to come here, like education and internet jobs. But I think Shakeel’s attitude has a rational basis. Spain still has a lot to offer.
October 31, 2007 at 7:31 am #75980
Katy: Can you please tell me which paper did you read it in ???
Shakeel – there was an article in Daily Telegraph about this: http://www.telegraph.co.uk/news/main.jhtml?xml=/news/2007/10/29/nmalik128.xml
Mr. Malik says he was “deeply disappointed” to be taken to one side at the airport in Washington and that “it has to be said that the USA system does not inspire confidence.”
Oh, but I think it does. Sorry Mr. Malik, but don’t see why you shouldn’t be treated like everybody else. Even Joan Collins has been taken to one side and ‘patted down’. What gives you the privilege of being exempted?
October 31, 2007 at 9:28 am #75983
Thanks Charlie for that info. I agree Mr Malik should be given the same treatment. Here goes an example of the American paranoia.
A list of passengers is provided to the authorities and an investigations could have been carried out before he landed to avoid a diplomatic cock up. I dont know Mr Malik’s reasons for the visit if it was personal he deserve what he got and if it was official than foreign office was caught sleeping once again.
In so far as Joan Collins is concerned. Perhaps they were trying to verify if its the same person. As the passport photos due to the alleged body work being carried out on her between the date the passport photo was taken and Ms Collins presented herself may differed.
The authorities must be wondering where is the suicide love belt Ms Collins is hiding.
October 31, 2007 at 9:50 am #75986
Actually, it does inspire confidence that people are questioned before boarding a flight. Being a member of a political party shouldn’t put people above suspicion.
My son-in-law travels around the world many times a year (job) and because of this he is often taken for further questioning, not just in the USA.
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