Argentines Park Their Money In Miami

[garryl]

There are so many better places to invest in US, other than Florida, which has no buying power, no employment, only small investors from Latin America and retiring people from east coast.

 

[ghost]

There are so many better places to invest in US, other than Florida, which has no buying power, no employment, only small investors from Latin America and retiring people from east coast.

Here. This will help you to extract your foot......
http://en.wikipedia.org/wiki/Comparison_between_U.S._states_and_countries_by_GDP_%28nominal%29

 

[steveinbsas]

I follow the local weather forecast on weather.com. Recently this list was posted:

http://www.weather.com/health/aches-pains/news/worst-cities-live-20140902

Miami was the winner!

 

[EdRooney]

Here. This will help you to extract your foot......
http://en.wikipedia....y_GDP_(nominal)

Nice chart. Argentina is Massachusetts: that's so fitting. A mostly low-income region surrounding 1 giant metropolitan port city where all the jobs, money and snobs are. Buenos Aires and Boston both have a nostalgia/inferiority complex for a time at the turn of the 20th century when they were considered to be on top of the heap, before falling on harsher times. Although this wasn't the aim of the chart, they seem to have nailed it.

 

[Ries]

Here. This will help you to extract your foot......
http://en.wikipedia....y_GDP_(nominal)

Hey, at least Indonesia beats Florida- but according to that chart, if Florida was a country, it would be the 17th richest one in the world.
Its obvious why it appeals to Argentine buyers, though- Direct flights, spanish is spoken, all the cheap chinese goods you could want, the allure of Miami Vice (white loafers with no socks and armani suits with t shirts).
Its relatively close, its got malls, beaches, and ferraris.

 

[Musicman]

Interesting - Saudi arabia just over half the size of Texas

 

[nlaruccia]

Thank you! You seem to really know your business.
But isn't Miami already quiet expensive? I recently received an email from some erudite group of philanthropists urging me to invest in the Dallas housing market. Considering that just as many people speak Spanish in Texas as in South Florida, would you pay for little ads in lanacion and establish a service that "helps" Argentines park their money in Central Texas?
If we join forces you could be in charge of the crystallised carbon hedge fund (we could establish it in Uruguay if you don't fancy the Caribbean, but still either of us will have to travel to Panama or the Dutch Antilles)

Vaca Muerta might come alive next year, but in the meantime I'd stick with gold which never ever goes down in value. ever.

Now, what about football players?

But gold has gone down recently. Unless you mean investing in gold stocks. A lot of the Latin Americans that invested in Miami got Short Sales and REOs at great prices. In 2009 houses were going for $10,000 in Detroit. If you go to the yearly real estate fair in the Hilton Hotel you'll see them trying to attract Argentine investors to buy property in Miami, Texas, NYC amongst other areas of the country. Miami and Southern California are not nearly as expensive as NYC or San Francisco.

 

[Matt84]

But gold has gone down recently. Unless you mean investing in gold stocks. A lot of the Latin Americans that invested in Miami got Short Sales and REOs at great prices. In 2009 houses were going for $10,000 in Detroit. If you go to the yearly real estate fair in the Hilton Hotel you'll see them trying to attract Argentine investors to buy property in Miami, Texas, NYC amongst other areas of the country. Miami and Southern California are not nearly as expensive as NYC or San Francisco.

Yeah that's why I mentioned gold specifically, perhaps I don't take Musicman that seriously.
I actually found some "nice" houses for as little as 2 or 3,000 USD in the urban plain of Michigan, but also some for less than 10,000 in the middle of nowhere, Texas (back then).

I actually was in Buenos AIres for that Hilton RE expo, didn't see any non Florida offers, didn't stay that long either, but several Miami developments were offering commissions for sales as if it were low hanging fruit.

 

[mraccountant]

There are so many better places to invest in US, other than Florida, which has no buying power, no employment, only small investors from Latin America and retiring people from east coast.

no employment? no buying power? only small investors from Latin America? not sure where you are pulling this information or "facts" from, but those types of over generalizations are extremely misguided and simply not true.

unless of course you meant "small investors" and "retiring people from the east coast" are investing in 50, 60, 70 and 80 story luxory towers in Miami...

http://miami.curbed.com/archives/2014/07/22/miamis-newest-skyscrapers-go-for-supertall-status.php

 

[Joe]

I wouldn't hold my breath on a 80 story luxory (sic) tower actually being built in Miami...