Re: Re: Demise of the Euro closer? – Ignore this if it bores you



@logan wrote:

Predicting currency movements like property is a mugs game. These jurno’s on Moneyweek have about as much real idea where the Euro is heading as anyone else. In fact with predicted interest hikes by the ECB in July and later in the autumn the Euro path is an upward trend at least for the coming few months.
Once the chickens come home to roost however and Greece defaults as it undoubtedly will another story will develop. When Spain, post election requests financial aid next year the Euro will be trash.
I agree with Moneyweek on one item however. Investing in Sweden is proving fruitful. 🙂 No wretched Euro problems. Bliss.

I’m a swede and we are doing ok at the moment but there are some things to watch out for in Sweden.

We have quite a large exposure towards eastern europe. Especially Estonia and Latvia. These countries took extreme austarity meassures during 2007-2008 and cut public spendings and wages. Both these countries seem to be doing way better than most other EU countries at the moment. We have an extreme housing shortage in the cities but in the last two three months we have seen a decline in real estate property prices from an all time high. This is probably not recorded in the statistics yet. Hard to say what will happen in the long run but prices have gone up a little bit to much in my opinion so a smaller decline would probably be healthy.

When it comes to buy to let in Sweden it’s impossible to do since all rents to private people are government controlled. It’s a very stupid system that they will probably change to a market driven system in the future. We have had complaints from EU about it “probably one of the few good things from the EU but luckily our controlled rents probably saved us since it’s hard to speculate in real estate property here to let them for a few years and then sell so this didn’t drive our “bubble”. You can’t freely let your apartment out either. If you only look at rental yields they will look horrible because of these regulated rents. The downside with this system is that there have been hardly any rental apartments built in the last 20 years and to get a rental apartment you either need to que for 15-20 years to get one or pay money under the table for it..

Sadly Sweden was a great place to live 30-100 years ago but immigration is on it’s way to ruin it. Back in the days everyone helped out but at the same time not many took advantage of the system. Immigrants that came from Italy, Iran, Spain, Finland, Chile etc in the 30-70s worked hard and made a better life for themselves and helped Sweden greatly. Our new citizens where very much welcomed but these days we are swamped with people that only come here because they want to cash welfare checks. People in Sweden are becomming more and more irritated at certain groups of people that immigrate. Immigration costs the tax payers enormous amounts of money every year and the voters have finally had enough but sadly all other parties have banded together so the “swedish democrats” have no say about immigration. This party is mostly filled with idiots but since no other political party even wants to touch these subjets their support will grow. Most politicians cry every week about it but they refuse to deal with the core issue and instead they sort of blame it’s citizens for being racists. Some people that have openly said that they voted for them have lost their jobs because of it so we can’t even pride ourselves for being a democratic and civilized country anymore. I can honestly say that there is not one country in the world that is as “Political correct” and that is destroying Sweden from within. There are huge differences between certain groups when it comes to crime rates and having jobs. For example 85% “another 10% or so are probably hidden in education programs etc” of all people from Somalia are unemployed and men from that country are 50 times as likely to commit rape as a person that has both parents born in Sweden. It’s officially blamed on structural racism and what not. I know it may sound harsh but why even accept people from such a country? Help them on the spot instead.

It’s sad that you can’t feel proud about your own country and it’s achievements anymore.

/End of rant