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NotCranky.
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November 7, 2007 at 2:17 PM #10842November 7, 2007 at 3:01 PM #96879
drunkle
Participanthold your euros for another year, rent in the meantime. when your euros convert to 1 mil usd, you can buy whatever you want and not worry about it. plus, prices will be down even more by then so you get a double bonus.
btw, do you still get paid in euros?
November 7, 2007 at 3:01 PM #96944drunkle
Participanthold your euros for another year, rent in the meantime. when your euros convert to 1 mil usd, you can buy whatever you want and not worry about it. plus, prices will be down even more by then so you get a double bonus.
btw, do you still get paid in euros?
November 7, 2007 at 3:01 PM #96952drunkle
Participanthold your euros for another year, rent in the meantime. when your euros convert to 1 mil usd, you can buy whatever you want and not worry about it. plus, prices will be down even more by then so you get a double bonus.
btw, do you still get paid in euros?
November 7, 2007 at 3:01 PM #96961drunkle
Participanthold your euros for another year, rent in the meantime. when your euros convert to 1 mil usd, you can buy whatever you want and not worry about it. plus, prices will be down even more by then so you get a double bonus.
btw, do you still get paid in euros?
November 7, 2007 at 3:05 PM #96883Diego Mamani
ParticipantEdouard, ça va?
I’m afraid you came to the wrong forum to ask this question. Most people here think that buying real estate at this point in the market cycle is financially insane.
The best advice I can give is to invest your EUR 500K in Euro-denominated assets, not all of it in equities, not all of it in bonds, some in CDs, etc. Then use part of your dollar income to rent a nice, comfortable house (not an apartment) like the Maybeck one you like.
Unfortunately, it looks like you have made up your mind about buying. I can only hope that reading this blog as well as the thehousingbubbleblog.com will help you change your mind. House prices were ridiculously inflated in 2002-2005 (until 2006 in some other ares of California), and only recently we started the adjustment process.
House prices are awfully sticky on the way down, so prices won’t go down to reality in a year or two: it’ll take at least half a decade from the peaks in 2005 for prices to reach bottom. You may go ahead and pay $600K-$700K today, but when you decide to go back to Europe in 5 years, you’ll find that you can’t sell your house for what you paid for it. Worse yet, you’ll be paid in dollars that will be severely depreciated against the Euro.
Why would a European who can easily invest in Euro-denominated assets be interested in purchasing an asset (a California house) that is expected to depreciate in dollars, and more so in Euros? It makes no sense.
Bonne chance.
November 7, 2007 at 3:05 PM #96949Diego Mamani
ParticipantEdouard, ça va?
I’m afraid you came to the wrong forum to ask this question. Most people here think that buying real estate at this point in the market cycle is financially insane.
The best advice I can give is to invest your EUR 500K in Euro-denominated assets, not all of it in equities, not all of it in bonds, some in CDs, etc. Then use part of your dollar income to rent a nice, comfortable house (not an apartment) like the Maybeck one you like.
Unfortunately, it looks like you have made up your mind about buying. I can only hope that reading this blog as well as the thehousingbubbleblog.com will help you change your mind. House prices were ridiculously inflated in 2002-2005 (until 2006 in some other ares of California), and only recently we started the adjustment process.
House prices are awfully sticky on the way down, so prices won’t go down to reality in a year or two: it’ll take at least half a decade from the peaks in 2005 for prices to reach bottom. You may go ahead and pay $600K-$700K today, but when you decide to go back to Europe in 5 years, you’ll find that you can’t sell your house for what you paid for it. Worse yet, you’ll be paid in dollars that will be severely depreciated against the Euro.
Why would a European who can easily invest in Euro-denominated assets be interested in purchasing an asset (a California house) that is expected to depreciate in dollars, and more so in Euros? It makes no sense.
Bonne chance.
November 7, 2007 at 3:05 PM #96956Diego Mamani
ParticipantEdouard, ça va?
I’m afraid you came to the wrong forum to ask this question. Most people here think that buying real estate at this point in the market cycle is financially insane.
The best advice I can give is to invest your EUR 500K in Euro-denominated assets, not all of it in equities, not all of it in bonds, some in CDs, etc. Then use part of your dollar income to rent a nice, comfortable house (not an apartment) like the Maybeck one you like.
Unfortunately, it looks like you have made up your mind about buying. I can only hope that reading this blog as well as the thehousingbubbleblog.com will help you change your mind. House prices were ridiculously inflated in 2002-2005 (until 2006 in some other ares of California), and only recently we started the adjustment process.
House prices are awfully sticky on the way down, so prices won’t go down to reality in a year or two: it’ll take at least half a decade from the peaks in 2005 for prices to reach bottom. You may go ahead and pay $600K-$700K today, but when you decide to go back to Europe in 5 years, you’ll find that you can’t sell your house for what you paid for it. Worse yet, you’ll be paid in dollars that will be severely depreciated against the Euro.
Why would a European who can easily invest in Euro-denominated assets be interested in purchasing an asset (a California house) that is expected to depreciate in dollars, and more so in Euros? It makes no sense.
Bonne chance.
November 7, 2007 at 3:05 PM #96964Diego Mamani
ParticipantEdouard, ça va?
I’m afraid you came to the wrong forum to ask this question. Most people here think that buying real estate at this point in the market cycle is financially insane.
The best advice I can give is to invest your EUR 500K in Euro-denominated assets, not all of it in equities, not all of it in bonds, some in CDs, etc. Then use part of your dollar income to rent a nice, comfortable house (not an apartment) like the Maybeck one you like.
Unfortunately, it looks like you have made up your mind about buying. I can only hope that reading this blog as well as the thehousingbubbleblog.com will help you change your mind. House prices were ridiculously inflated in 2002-2005 (until 2006 in some other ares of California), and only recently we started the adjustment process.
House prices are awfully sticky on the way down, so prices won’t go down to reality in a year or two: it’ll take at least half a decade from the peaks in 2005 for prices to reach bottom. You may go ahead and pay $600K-$700K today, but when you decide to go back to Europe in 5 years, you’ll find that you can’t sell your house for what you paid for it. Worse yet, you’ll be paid in dollars that will be severely depreciated against the Euro.
Why would a European who can easily invest in Euro-denominated assets be interested in purchasing an asset (a California house) that is expected to depreciate in dollars, and more so in Euros? It makes no sense.
Bonne chance.
November 7, 2007 at 3:19 PM #96905jimmyle
ParticipantDid you check out Sorrento Valley? This is very close to UTC. I am not sure about the schools though.
http://www.sdlookup.com/MLS-076079350-6172_Sunset_Crest_Way_San_Diego_CA_92121
http://www.sdlookup.com/MLS-076064088-5960_Oceanview_Ridge_Ln_San_Diego_CA_92121
November 7, 2007 at 3:19 PM #96983jimmyle
ParticipantDid you check out Sorrento Valley? This is very close to UTC. I am not sure about the schools though.
http://www.sdlookup.com/MLS-076079350-6172_Sunset_Crest_Way_San_Diego_CA_92121
http://www.sdlookup.com/MLS-076064088-5960_Oceanview_Ridge_Ln_San_Diego_CA_92121
November 7, 2007 at 3:19 PM #96975jimmyle
ParticipantDid you check out Sorrento Valley? This is very close to UTC. I am not sure about the schools though.
http://www.sdlookup.com/MLS-076079350-6172_Sunset_Crest_Way_San_Diego_CA_92121
http://www.sdlookup.com/MLS-076064088-5960_Oceanview_Ridge_Ln_San_Diego_CA_92121
November 7, 2007 at 3:19 PM #96969jimmyle
ParticipantDid you check out Sorrento Valley? This is very close to UTC. I am not sure about the schools though.
http://www.sdlookup.com/MLS-076079350-6172_Sunset_Crest_Way_San_Diego_CA_92121
http://www.sdlookup.com/MLS-076064088-5960_Oceanview_Ridge_Ln_San_Diego_CA_92121
November 7, 2007 at 3:20 PM #96988sdrealtor
ParticipantEdouard,
The issue of timing when to buy is your own however I would advise looking into Encinitas. the is a very active art community there and alot of hisory relative to other parts of SD you might consider.sdr
November 7, 2007 at 3:20 PM #96981sdrealtor
ParticipantEdouard,
The issue of timing when to buy is your own however I would advise looking into Encinitas. the is a very active art community there and alot of hisory relative to other parts of SD you might consider.sdr
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