After so many years of winkin', blinkin' and nod regarding laundering and undeclared income, CFK and the AFIP ought to do an "olly olly oxen free". Of course then they wouldn't be able to "punish" the bourgeoisie, which I think is an underlying motive for much of their recent madness.earlyretirement said:Absolutely things have slowed down. MANY owners have pulled their properties off the market and just waiting to see what else happens. But the prices haven't sunk even with the low volume. The lack of alternative investments and inability to safely keep your funds in a bank account in Argentina still makes real estate there desirable for the locals.
Also, I personally don't think it's so much as the inability to get dollars because many people already have savings in dollars either stashed under their mattress or especially abroad. The biggest problem I see is AFIP demanding to see from some buyers where their income came to purchase after declaring so little income the past several years.
THAT will really keep the market quiet if they keep doing that. Almost NO locals declare all their income and assets.
Johnny said:After so many years of winkin', blinkin' and nod regarding laundering and undeclared income, CFK and the AFIP ought to do an "olly olly oxen free". Of course then they wouldn't be able to "punish" the bourgeoisie, which I think is an underlying motive for much of their recent madness.
ElQueso said:I think you're completely right about that.
But even if they got past their desire to punish and chose to "forgive" all unreported income, I think people who declared their money abroad and under mattresses would also find themselves laid bare in front of the government. I could see rumors of a law coming along after the "forgiving" that would force repatriation of all that foreign-held money (I don't really know if that's possible, or even likely, but who would believe it wouldn't happen and be scared anyway? And access, to a certain extent, could still be controlled), and people who had money here in the country and declared it would be at the mercy of any real laws the government made concerning possession of dollars, both of which would cause people to not declare their money.
I don't see how they can get out of all of this without some problems somewhere, particularly as long as the government is seen as corrupt, untrustworthy and downright crazy by those who have undeclared money.
Think really hard about all of the things you consider when buying a home. ie Schools, hospitals, street lighting, sewers, SECURITY, sidewalks, fire and medical, etc and etc. Infrastructure. Now tell me about inflated prices in this market. Value goes beyond the property.sergio said:What would realistic prices be? During the Menem era when the peso was worth one dollar and housing prices were a FRACTION of what they are now, the gap between salary and purchase price was far far more reasonable. Nowadays for someone to try to save to buy a property, it is just about impossible. That was not the case before. Maybe prices are a bit inflated but by international standards they do not seem wild. Could part of the problem be the low value of the peso in the international market and the high inflation rate?
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