USA prices

Are we allowed to discuss this anymore?

I gotta say that watching the abc last night and seeing the James Packer debacle in vegas got me thinking.

They interviewd an agent who was showing the crew through a penthouse apartment (swanky) looking over Las Vegas.

Here are the numbers (roughly)

3 years ago - worth 800k usd. Say exchange rate of 65 - makes it worth 1.2-1.3 mill AUD

NOW - Worth usd 380k - or around AUD 420k

So a drop from 1.3 mill to 420k..

Why are we still sitting here - who wants to charter the plane?
There used to be local firms (aussie) that had people on the ground there - a whole team of brokers, sources, financiaers etc.

Id give up 40k of my hard earned to sit on a positive cashflow penthouse waiting for the exchange rates and property rpices to return to somehwer near normal - heck even a 50 percent recovery would be ok with me....

Anyone know any local firms?
builders, plse comment

I watched it too and my jaw dropped. Great value, surely below the cost of construction? And just one floor below the penthouse. I wonder what ongoing costs are. I know its still possible for foreigners to get loans in the USA, or so I am told.

Does anyone with knowledge of building know how to assess the value of apartments?
There are plenty of online value estimators in the US. They're pretty accurate from what I hear.

Zazzle or something.
I saw an article in the NY Times that showed a homeless shelter in New York with marble floors and luxury appointments. A development that couldn't find tenants and so they grabbed the 1000 a month rather than wait for the 30,000 a month tenants to show up for it. Better bargains in Panama.

I saw this as well and am very very tempted to get on a plane and go scouting around California (just gotta sell my Merc first...fingers crossed).

This is a once in a lifetime opportunity - and I for one have no doubt that the US Economy will come roaring back soon.

My goal is to accumulate 3 X single family homes @ around USD400K each in a see side area like Oxnard CA (which looks a little bit like batemans bay)

And the real estate and exchange rates relationship will come back to normal... soon
hi all
one of my contacts has an office in LA already setup and is buying in a group
so they buy a group of properties and internal subdivide who wishes them.
this way yes you can sit here and watch as they come out the list gets and email and then the people in the group decide which units they are interested in
I did ask some time ago who was interested
and in the end one of the people I deal with jumped on a plane and setup the officethe group is looking at a ny office right now and have one investor there at the moment scouting around.
each group or entity in the group is separate and buy as a buyers group
here is a requirement to put money up which does cause people issues and thats why I stopped or did not post anymore on this project that does not mean its stopped it means its not on this board.
there are three types of investors
one that watchs evaluates and sits and waits
one that want to buy a bargain and waits for tat to come along
and then there the ones that jump on the planes and give it a go
you have to decide which you are.
there are heaps that say I would love to have invested in that yesterday
well when I posted that was yesterday or a few days ago and there been alot of water under the bridge since then.
as for number of unit acquired or how is not for a board
nor for that matter who has bought as that up to the people in the different groups and is up to them. the group has a finance company there that is funding and there is product and thats all that needs at this stage to be I recommend to invest there
thats your choice
we do not recommend any area nor any property we look at different properties and different people want to buy different types of property and its up to the person to decide
this is ture syndication in its very basic form and as its investing overseas as well is not for any board.
and is for information only and is not in anyway to be relied on for anyform of investing and if some one wants you can add the 2 page disclaimer.
add ... or ,,, as needed
And the real estate and exchange rates relationship will come back to normal... soon

What's "normal"?

If you are thinking 60c, don't hold your breath. We're going through parity methinks.

I'd give Vegas a miss, there could be long term probs there. I picture it like Detroit. Condos in Miami are cheap too and that has a lot more certainty about it.
This is a once in a lifetime opportunity - and I for one have no doubt that the US Economy will come roaring back soon.
The jury is still out on that one,if you recognize the social and political problems that are in place and will stay that way for a while in the "US" then I just can't see them come roaring back yet,because if the dollar goes the way i think it will then they may well fall over again,and this time round it will be very hard to get back on it's feet again,the same can happen in this country,has before..imho..willair..
If you want to have a punt on the US and it's future, buy long dated Au/Ag futures. This is effectively shorting the US and it's currency.
If you want to have a punt on the US and it's future, buy long dated Au/Ag futures. This is effectively shorting the US and it's currency.

"George Soros"
Just makes you think what this "Man" is up too,and from what i'm told he sure is not buying property,After all he does have experience in shorting world money markets, and detecting changes in the world around him:)..
..imho willair..

Soros was born in Budapest, Hungary, in 1930. His father was taken prisoner during World War I and eventually fled from captivity in Russia to reunite with his family in Budapest. Soros was thirteen years old when Hitler's Wehrmacht seized Hungary and began deporting the country's Jews to extermination camps. In 1946, as the Soviet Union was taking control of the country, Soros attended a conference in the West and defected. He emigrated in 1947 to England, supported himself by working as a railroad porter and a restaurant waiter, graduated in 1952 from the London School of Economics, and obtained an entry-level position with an investment bank..
I want to

long the USA
LONG/short the USD/aud

long my own ability to
pick good desirable properties whose growth will beat the average.
negotiate a great price
manage it well with good tenants.
US bounceback will be inevitable.

my question is how long it will last for.

i'd be avoiding coastal property in the US - way oversupplied.

look inland a little....maybe follow the Mississippi....
Everyone hems and haws but the next stock dip will see AUD drop and US rise. Until then it will quite suit the US to have their dollar dropping value - despite the official line of 'strong dollar'. Australia will start hurting as exports slip because of parity movements and the danger is we'll all debt up feeling like new tattslotto winners and then have to cope with the consequences when the currency lords sell off the AUD. This is likely the real reason the RBA went the increase and why they'll

If I had the spare cash I'd buy US dollars and not houses since their dollar will bounce back long before their housing market will. A game for big end speculators I'd say but others may disagree.