sksk
Junior Member
Posts: 12
|
Post by sksk on Oct 22, 2008 16:05:47 GMT 1
So, the governor of the Bank of England calls the UK in recession and sterling collapses against the YEn and dollar. The pound against the Euro slipped to .79 (less dramatic a loss as agains the dollar). And the dollar has rallied inconceivably back to $1.28. Who would have thought?
Croatia will be seeing a dramatic decrease in UK holiday home buyers.
With the dollar sharply gaining (and it boggles the mind just why) it could conceivably drop below $1.20 to the Euro. Maybe the Yanks will return to Croatia.
With house prices collapsing everywhere (except in the minds of Croatian property owners) these currency swings will dampen even further the selling price of that quaint stone house in Dalmatia.
These are crazy times. Who knows what will hit the world economies next. But it won't be good for holiday homes.
--SK
|
|
|
|
Post by boris on Oct 22, 2008 16:41:53 GMT 1
Agree, there will be fewer buyers from the UK, but maybe more from the Euro zone. Croatia is too far for Americans, they go for Panama, Costarica and Nicaragua.
|
|
|
|
Post by Carol on Oct 22, 2008 17:16:57 GMT 1
sadly in my part of the world the UK purchasers were already negligible in number so it may increase the numbers of sellers but it won't really changing the numbers of buyers.
Maybe the British sellers will be more negotiable on price though as their £ sales price will be higher now?
So one brght spot for British property owners in Croatia and eurozone, when the pound goes down against euro, your property goes up in pound value.
|
|
|
|
Post by Nick on Oct 22, 2008 17:25:46 GMT 1
Sterling has been falling against the dollar since August and not before time. Personally, as I earn in Dollars, this is great news.
What I think has happened is the US got a head start in the global problems and the rest of the world is now playing catch up and this being reflected in the exchange markets.
As for property sales in Croatia, well the Croatian Government did a great job themselves in putting off foreign buyers with their idiotic laws on temporary residency.
I would also imagine that the Americans who buy in Croatia have connection over here. Can't see any other reason why they would buy here otherwise.
|
|
|
|
Post by capio on Oct 22, 2008 18:14:59 GMT 1
Great news... exports on the up... the falling pound has been outstanding for me and others who are reliant upon businesses than export.
There's no question, we're in recession, and when I say we I mean all of us... Brits, Americans, Croats, Aussies and even Chinese. It's already having a positive effect with the lowering demand in oil based products.
Petrol prices will fall further soon, I was on a plant today were all the major supermarkets store their Petrol, Tesco's on site petrol has fallen from £1.8m to its current value of £1.5m and is expected to fall to £1.1m in a matter of weeks.
Good, f**k em, greedy bastards!
Tesco and Morrisons for once are on the consumers side they act as traders and without them the refineries would be charging 50% more.
Recessions come and go, some people are and will lose their jobs, its unfortunate but its part of life, we'll all get over it! Our orgainsations will become leaner, more manufacturing will move east and more high quality consultancy based jobs will come west.
|
|
|
|
Post by ray51 on Oct 22, 2008 22:14:07 GMT 1
Any bets on bottom lines before X-mas : $/Euro and $/Sterling , anyone  ( e.g. $/Euro some talk even 1,15 , the others reckon : back to 1,35 , before Sylvestrovo...) |
|
sksk
Junior Member
Posts: 12
|
Post by sksk on Oct 23, 2008 1:34:19 GMT 1
The $/Euro movement is a riddle, wrapped in a mystery, inside an enigma.
I too have heard prognosticators call for a $1.15. I've even heard of a return to parity. The American markets seem to think Europe is in worse shape. Worse shape than the U.S.? Is that possible? Possibly. EU banks lack transparency. And they bought a ton of dodgy paper from now defunct U.S. investment houses.
Right now the dollar is a juggernaut. It's breathtaking to see the move in the last three months. There's no stopping it at the moment. I do think we will see $1.15 by X-mas. I also think this dollar spike will be short-lived. And once the dollar peaks, it's going to fall hard and fast.
At least we don't have Hungarian Florints jingling in our pockets. Or Argentine Pesos. Or whatever they use in Iceland (is it cod now?).
-SK
|
|
|
|
Post by ray51 on Oct 23, 2008 8:51:56 GMT 1
Interesting , how the published Kuna exchange rates bear hardly any reflection or semblance , to the huge global changes we experience daily ?
|
|
|
|
Post by Nick on Oct 23, 2008 9:47:27 GMT 1
Could not agree more, we should be getting at least 10 kuna to the dollar.
|
|
|
|
Post by Carol on Oct 23, 2008 14:06:13 GMT 1
I thought it was official cro policy to enter the Fx markets in order to keep the kuna pegged loosely to the euro? I am wrong? If i am right then the kuna's exchange rate is not weird at all
|
|
|
|
Post by ray51 on Oct 23, 2008 21:18:45 GMT 1
Wishing won't make it so !
No point entering into technical arguments here , but ( based on the current picture of HR public finances , as it is made known to the world ) there is no way Kuna could , nor should , remain even loosely linked to Euro-rates internationally ...
then again : as a little-traded currency , not quoted often internationally and hardly ever in demand anywhere outside HR , it lends itself v. well , indeed , to gov'ts' manipulations - not dissimilar alltogether to a few others of similar ilk , Israeli shekels came to mind instantly , or the curencies of Azerbeijan , Kazahstan and various assorted Asian and latin American countries...i.e. where you have to pay a premium to exchange from a world-recognised and accepted monies , into obscure local ones , difficult & expensive to change back afterwards ( in the case of Kuna-notes : which even the nearest petrol station the other side of SLO border won't take , towards a few cans of cold Pepsi , hehehe - true story ! )
|
|
|
|
Post by Nick on Oct 24, 2008 8:31:44 GMT 1
I can see £1 = $1.30 by Xmas.
|
|
sksk
Junior Member
Posts: 12
|
Post by sksk on Oct 24, 2008 14:19:05 GMT 1
Pound down 4.5% to the dollar. Trading $1.56.
$/Euro at $1.26
Jawdropping. U.S. futures just hit their drop limit. Automatic cease. NY will open with no futures guidance. Incredible.
ANd the crazy thing is: gold is tanking.
Dalmatian stone houses, of course, must be up 200%.
SK
|
|
|
|
Post by ray51 on Oct 24, 2008 21:16:45 GMT 1
Spent a few hours earlier , looking at the ( vast ) selection of real estate for sale in nearby historic Bruges ( UNESCO protected site ) , one of the so-called "Venices of the North";
the asking prices are at about 2005-2006 levels , albeit , the agents intimate : "much softer" , i.e. offers of 15-20% below current listing would be seriously considered !
- 98oct lead-free was available , for the first time in a long time ,
at Carrefour hypermarket , just over the nearby unmanned French border : at 1Euro19c...
Suddenly , many items look like bargains , Philips DVD player at Euro 29.95 incl. the 2 yr guarantee , really nice mod jeans at Carrefour for 4 Euros ( all sizes ) , best quality blanc-bleue steak from IKEA , served with frites and veggies at E5,49 , multi-liter pot of mussels in soup with veggies , frites + Hoegarden all still below 10 Eurobuxxx ...perhaps we do have a few good years ahead , hey ?
|
|
|
|
Post by justapixel on Oct 25, 2008 19:55:46 GMT 1
Pound down 4.5% to the dollar. Trading $1.56. $/Euro at $1.26 Jawdropping. U.S. futures just hit their drop limit. Automatic cease. NY will open with no futures guidance. Incredible. ANd the crazy thing is: gold is tanking. Incredible collection of news that would have been unthinkable a year ago. I wonder what happens next. Strangely, in spite of all that, my only current concern is that bank will deny giving me a huge housing loan for the apartment that I'm about to buy.  . |
|
