BA is (still) cheap...

Not sure if the peso would get cheaper, as the major problem now seems to be inflation spiralling out of control, and weakening the peso against the dollar would only make things worse.
I think Argentina has at least a couple of years before any major crisis, but sounds like it could be easily averted if someone was put in power who wasn't so childish. If a monkey could be taught to read it could run Argentina better. I wonder if Christina will be overthrown.
 
I really don't think B.A. will be as expensive as NYC in two years. If inflation continued at current levels you would expect the peso to tank, along with the rest of the economy. The basic problem in Argentina today is the current economic model being defended by the K's is unstainable.
I suppose it's possible that real estate wouldn't be that impacted, kind of a neutron bomb effect. However, when things go out of control, i.e. if Cristina does make an early exit, there no certainty what would follow would be an improvement. It's very hard to predict what would could happen.
Hopefully she would be followed by a reasonably competent government and Argentina would thrive.
 
I think we'll see a mini-correction in Argentina. I don't think the peso will drop that much against the dollar but I can't imagine that if the gov't defaults, real estate prices won't be affected. Prices are already out of the reach of many Argentines earning in pesos, I can't imagine that the market will sustain itself. If you look at an average 1BR in BsAs which are running around 100,000 USD and extrapolate that to pesos at 300,000 pesos and then compare that to average salaries earned in BsAs - well, it will be tough to sustain (in my opinion). I am hoping to buy in the next 2 years but at this point, I'm thinking the bubble may deflate a little & prices will be lower...
 
City,

I own 5 apartments in BA and have bought recently. The average 1 bedroom is not 100k. That may be the price in recoleta, parts of Palermo and puerto madero but not the case overall. Also, you are looking at 500sq ft at 200 a foot. You can buy in presale for less than that, I have and it has been good. It takes about 2 years for a building to be built so you may want to consider a new good project from a reputable builder for 1500 a foot. You are looking at 65k for new construction. The problem with trying to time a market is you never know and things are still relatively low compared to 2000.
 
dfwemr - Yes, I am looking in Palermo, LC, Puerto Madero, etc. hence the price I stated. I haven't looked at new construction because quite frankly, I've been *very* underwhelmed with construction quality I've seen. I'm not opposed to it but I would want a good builder. If you have some that you reccomend, I would love to hear about them. I will be buying for me, not for a rental investment so I'm especially picky as I intend to keep this place for quite a while.
 
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