BA Real Estate market to take a dive before the end of the year.

[on the brink]

These are terrible times. My trusted AC man is monotributista - self-employed. For a whole month he wasn't allowed to work, but still had to pay taxes on his nonexistent "estimated earnings". Now he can work but there are no customers - most people are short of money.

 

[jeff1234]

I've lived through several severe economic downturns. I hope I am wrong but given the disruption I see now, I am expecting that later in the year. people will, unfortunately, be desparate to get their hand on cash and panic selling of real estate will occur.

We can revisit this issue in December. I like my friends and neighbors here alot and hope they don't suffer through another economic upheaval.

By the way, we're watching a Netflix show, Vientos de Agua, which is about the lives of a Spanish/Argentine family including an excellent episode about the 2001 crisis here.

 

[Jeremias]

I've lived through several severe economic downturns. I hope I am wrong but given the disruption I see now, I am expecting that later in the year. people will, unfortunately, be desparate to get their hand on cash and panic selling of real estate will occur.

We can revisit this issue in December. I like my friends and neighbors here alot and hope they don't suffer through another economic upheaval.

By the way, we're watching a Netflix show, Vientos de Agua, which is about the lives of a Spanish/Argentine family including an excellent episode about the 2001 crisis here.

I don't think we'll ever see any Argentine doing "panic selling" of a decent apartment in BsAs. Argentines don't panic easily, or if they feign to panic, it won't materialize in their selling anything at a super low cost. Panic or no panic, Argentinians are very smart when it comes to protecting their properties or cash. Good luck making money on an Argentine "panicking".

Anyway, for an Argentine apartment owner to sell at super low, panic prices, he or she would have to actually starve for 2 whole weeks. It's what it would take for them to really lower prices, 2 weeks without eating anything. It's how resilient they are.

Personally, I'm looking for apartments belonging to Europeans or Americans, who have come back home and need to sell. They might be prone to panic. But I have never seen an Argentine panic. Not to the point of losing money.

 

[jeff1234]

I don't think we'll ever see any Argentine doing "panic selling" of a decent apartment in BsAs. Argentines don't panic easily, or if they feign to panic, it won't materialize in their selling anything at a super low cost. Panic or no panic, Argentinians are very smart when it comes to protecting their properties or cash. Good luck making money on an Argentine "panicking".

Anyway, for an Argentine apartment owner to sell at super low, panic prices, he or she would have to actually starve for 2 whole weeks. It's what it would take for them to really lower prices, 2 weeks without eating anything. It's how resilient they are.

Personally, I'm looking for apartments belonging to Europeans or Americans, who have come back home and need to sell. They might be prone to panic. But I have never seen an Argentine panic. Not to the point of losing money.

In that case you can send me a message in December bragging that you were right.

 

[on the brink]

I agree with Jeremias. Argentines don't do panic real estate sales, mainly because they own their properties outright and have no mortgages shackling them. So, they can carry them indefinitely.

In the very rare cases they must sell their property in a hurry, there's always a friend or relative ready to step in and buy it.

Americans or other expats eager to abandon a sinking ship are the ones that might be tempted to sell cheap.

 

[Ceviche]

I believe Americans or other expats who bought properties purely for Airbnb business may be tempted to sell.."maybe maybe" after 1 year from now if business/ travel continues to be super low.

 

[Ries]

Its extremely common for 4 or 8 or more family members to own parts of one apartment. And the idea of them all agreeing to lose money, is I would agree, not very argentine at all. I have seen them fail to agree, for years, even when they are being offered high prices. I have heard of properties that had 32 owners, and taking ten years for a deal to finally be agreed upon. Recessions come and go, but until that ancient aunt finally dies, nothing happens.

 

[garryl]

I believe Americans or other expats who bought properties purely for Airbnb business may be tempted to sell.."maybe maybe" after 1 year from now if business/ travel continues to be super low.

I think they all sold and left, or most of them. I can't imagine how the market will crash. But I guess if the market is depressed for an extended period of time, then many will be forced to sell at a much lower price. Also is it easy to wire a few hundred k of dollars into Argentina ? I did the black way wiring the money without proper docs in 2010, eventually Marci bailed me out. If they go back to the stupid rule that CFK enforced, there will be no dollars comes into Argentina.

 

[Jeremias]

I think they all sold and left, or most of them. I can't imagine how the market will crash. But I guess if the market is depressed for an extended period of time, then many will be forced to sell at a much lower price. Also is it easy to wire a few hundred k of dollars into Argentina ? I did the black way wiring the money without proper docs in 2010, eventually Marci bailed me out. If they go back to the stupid rule that CFK enforced, there will be no dollars comes into Argentina.

You should be able to wire to an Argentine bank if you show them a notarized document stating that you're in the process of buying an apartment in Argentina.

 

[mc kenna]

I'M panic selling but i doubled the price lol