Argentines start bringing their money home

[soulskier]

I am going to have to side with Jedard on this one. Have you seen yesterday's BA Herald? It talks about record breaking weekend of tourism in Mar de Plata.

On a much more local front, our guest house in Bariloche is receiving inquires and many bookings almost every day. We are about 75% booked from now to April.
I think the trend might be for travellers to stay in smaller houses/apartments and less expensive hotels, but so far, no signs they are not coming at all, toque en madera.

 

[tangobob]

Dio, I have heard similar news in the UK, but there is a big difference to, considering whether bankers should give back recent bonuses, and them actually doing it. Incidentally, did you see the sizes of some of those pension funds?
There was a recant program an one of the Lehmen bros, I cannot recall exactly, but I think he was still worth $2.7Billion, said he looses sleep over the loses of small investors. YEH RIGHT

 

[diego7david]

be careful before something happens people often try to create an impression
dont trust everything you read are there any actual figures of how much is coming back as opposed to a year ago? in the usa before the present crisis all the gov issued bulletins and news stations were saying dont worry everything is fine maybe this really is an opposite message

 

[soulskier]

D7D, you make a good point.

 

[diego7david]

be careful about believing everything one
> reads are there concrete figures showing more money is coming back
> to argentina than last year or other years? in the usa before the
> present crisis the gov and the news were trying to bolster the
> economy and issued lots of propaganda statements trying to prevent
> people from pulling out or sending money away and look at the
> mess usa is in i wonder if this article is to try to stop an outward
> flow from argentina research things before you believe a simple
> newspaper article hopefully its true but you know the peso better than me !

 

[citygirl]

I'm still trying to figure out why Argentines would take money out of secured accounts in the US and bring the dollars back here? Doesn't make any sense unless you have no faith in the US honoring FDIC insured bank accounts. And if that were true and they didn't honor them - well, the world would be having a lot more problems than it does right now.

 

[perry]

It makes a lot of sense to me as Argentines have lived through many crisis to not trust the banking systems in the world . Having a security that the money will be returned by the government if the bank collapses is small consolation when the currency is devalued like it was in Argentina and now Iceland where the value of the Kroner has lost 80 percent of its value against the Euro.

 

[Fettucini]

In regards to property investment returns in Buenos Aires, I am very happy with the returns I've had and continuing to.
I purchased a house in Villa Crespo, a block from Palermo soho, 4 months ago and renting the rooms as a shared house. It has been occupied 100%, even in the low winter months, and i'm receiving an annual 12% return after all monthly expenses of the house.
I also invested in various downtown carparking spaces one year ago, which was something we were recommending foreign investors to get involved with at the time. After just one year they've been re-valued at 180% of their original value and just sold one of them.
I think though that the best rental money to be made in BA is in shared houses with minimal management needs.

 

[soulskier]

Fettucini, that is awesome news! It supports my earlier statements that with the proper homework and marketing, properties exist that make more than 10% exist. Furthermore, I believe the trend will be for people to still travel, but spend less on accomadations, such as rooms in your guest house.

As far as parking spots, thats genius, way to think out side the box!

 

[nikad]

I agree parking and rooms for rent are good investments