Housing market situation

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at46
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Re: Housing market situation

Post by at46 » Fri Jan 25, 2019 12:48 pm

41southchile wrote:
Fri Jan 25, 2019 8:02 am
So apparantly according to Forbes
Chile is good buying for second house overseas , not too sure on how accurate their description of Chile is https://www.forbes.com/sites/kathleenpe ... fedbc379be
Here is the local Emol story about the Firbes story ,
https://www.emol.com/noticias/Economia/ ... r-que.html
I wonder if this means the author and her husband has finally bought into Chile, after bashing it years earlier. Cos I think that's their modus operandi - buy in and start pushing. Has Cuenca topped out? Anyway, Chile is just going to be too expensive to live on SS alone. And La Serena is probably going to work only for real introverts.

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41southchile
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Re: Housing market situation

Post by 41southchile » Fri Jan 25, 2019 2:59 pm

at46 wrote:
Fri Jan 25, 2019 12:48 pm
41southchile wrote:
Fri Jan 25, 2019 8:02 am
So apparantly according to Forbes
Chile is good buying for second house overseas , not too sure on how accurate their description of Chile is https://www.forbes.com/sites/kathleenpe ... fedbc379be
Here is the local Emol story about the Firbes story ,
https://www.emol.com/noticias/Economia/ ... r-que.html
I wonder if this means the author and her husband has finally bought into Chile, after bashing it years earlier. Cos I think that's their modus operandi - buy in and start pushing. Has Cuenca topped out? Anyway, Chile is just going to be too expensive to live on SS alone. And La Serena is probably going to work only for real introverts.
Yeah this article definitely smacks of a hidden agenda, and a few of the comments on the emol article allude to that.
I can't decide for you. You'll have to make up your own mind.

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Re: Housing market situation

Post by admin » Fri Jan 25, 2019 5:51 pm

at46 wrote:
Fri Jan 25, 2019 12:48 pm
41southchile wrote:
Fri Jan 25, 2019 8:02 am
So apparantly according to Forbes
Chile is good buying for second house overseas , not too sure on how accurate their description of Chile is https://www.forbes.com/sites/kathleenpe ... fedbc379be
Here is the local Emol story about the Firbes story ,
https://www.emol.com/noticias/Economia/ ... r-que.html
I wonder if this means the author and her husband has finally bought into Chile, after bashing it years earlier. Cos I think that's their modus operandi - buy in and start pushing. Has Cuenca topped out? Anyway, Chile is just going to be too expensive to live on SS alone. And La Serena is probably going to work only for real introverts.
Pump and Dump.

They probably got a bit shaken by the last earthquake. :lol:

Personally though I kind of like La Serena more than Vina. Don't think I would ever buy anything there. My wife wants to because we got some family up there, but I just don't see us ever having a good reason to use it very much. It is kind of on the way to nowhere for us, and even if we did go up there regularly we got family there to stay with. Why buy the cow when the milk is free.
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For more information visit: https://www.spencerglobal.com

From USA and outside Chile dial 1-917-727-5985 (U.S.), in Chile dial 65 2 42 1024 or by cell 747 97974.

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Re: Housing market situation

Post by admin » Fri Jan 25, 2019 6:05 pm

at46 wrote:
Fri Jan 25, 2019 12:48 pm
41southchile wrote:
Fri Jan 25, 2019 8:02 am
So apparantly according to Forbes
Chile is good buying for second house overseas , not too sure on how accurate their description of Chile is https://www.forbes.com/sites/kathleenpe ... fedbc379be
Here is the local Emol story about the Firbes story ,
https://www.emol.com/noticias/Economia/ ... r-que.html
I wonder if this means the author and her husband has finally bought into Chile, after bashing it years earlier. Cos I think that's their modus operandi - buy in and start pushing. Has Cuenca topped out? Anyway, Chile is just going to be too expensive to live on SS alone. And La Serena is probably going to work only for real introverts.
I have not had a single client, that relied only on U.S. social security check to live in Chile, in about 10 years. Perhaps more. I have clients that just happen to get a social security check, in addition to a bunch of other resources like private pension or something; but, just a social security check, not even sure where that is possible anymore in Chile. Like if you bought a property that was completely paid for, you might be able to get by on a social security check. It would be tight, and not allow for a whole lot of wiggle room for things to go wrong.

I just don't see the middle class, U.S. retirement market returning to Chile ever now; unless, Chile has some sort of major crisis. The 2008 mortgage crisis pretty much wiped them out. It use to be fairly common for us to get U.S. retirees, that say sold their house in the States, lived on a social security check, come down and buy something in Chile. Not many of those around anymore.
Spencer Global Chile: Legal, relocation, and Investment assistance in Chile.
For more information visit: https://www.spencerglobal.com

From USA and outside Chile dial 1-917-727-5985 (U.S.), in Chile dial 65 2 42 1024 or by cell 747 97974.

at46
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Re: Housing market situation

Post by at46 » Fri Jan 25, 2019 6:36 pm

admin wrote:
Fri Jan 25, 2019 6:05 pm
at46 wrote:
Fri Jan 25, 2019 12:48 pm
41southchile wrote:
Fri Jan 25, 2019 8:02 am
So apparantly according to Forbes
Chile is good buying for second house overseas , not too sure on how accurate their description of Chile is https://www.forbes.com/sites/kathleenpe ... fedbc379be
Here is the local Emol story about the Firbes story ,
https://www.emol.com/noticias/Economia/ ... r-que.html
I wonder if this means the author and her husband has finally bought into Chile, after bashing it years earlier. Cos I think that's their modus operandi - buy in and start pushing. Has Cuenca topped out? Anyway, Chile is just going to be too expensive to live on SS alone. And La Serena is probably going to work only for real introverts.
I have not had a single client, that relied only on U.S. social security check to live in Chile, in about 10 years. Perhaps more. I have clients that just happen to get a social security check, in addition to a bunch of other resources like private pension or something; but, just a social security check, not even sure where that is possible anymore in Chile. Like if you bought a property that was completely paid for, you might be able to get by on a social security check. It would be tight, and not allow for a whole lot of wiggle room for things to go wrong.

I just don't see the middle class, U.S. retirement market returning to Chile ever now; unless, Chile has some sort of major crisis. The 2008 mortgage crisis pretty much wiped them out. It use to be fairly common for us to get U.S. retirees, that say sold their house in the States, lived on a social security check, come down and buy something in Chile. Not many of those around anymore.
I know a family of three living on two SS cheques who tried moving to Chile from Cuenca not so long ago. It was a disaster for them financially. In part due to expensive healthcare what with them being accustomed to everything free in Ecuador. They lasted like five months but only because they needed time to save for their return tickets. And yeah, waiting for a family member to pass and inherit the house is their only hope to see some dough.

at46
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Re: Housing market situation

Post by at46 » Sat Jan 26, 2019 12:11 am

admin wrote:
Fri Jan 25, 2019 5:51 pm
at46 wrote:
Fri Jan 25, 2019 12:48 pm
41southchile wrote:
Fri Jan 25, 2019 8:02 am
So apparantly according to Forbes
Chile is good buying for second house overseas , not too sure on how accurate their description of Chile is https://www.forbes.com/sites/kathleenpe ... fedbc379be
Here is the local Emol story about the Firbes story ,
https://www.emol.com/noticias/Economia/ ... r-que.html
I wonder if this means the author and her husband has finally bought into Chile, after bashing it years earlier. Cos I think that's their modus operandi - buy in and start pushing. Has Cuenca topped out? Anyway, Chile is just going to be too expensive to live on SS alone. And La Serena is probably going to work only for real introverts.
Pump and Dump.

They probably got a bit shaken by the last earthquake. :lol:
Her bit on Colombia: "This is because Colombia, including Medellin, is still misunderstood. When you say 'Medellin' to the average American, he thinks: Drugs... gangs... Pablo Escobar. It's such a misperception. The current reality of this city is so far removed from all that.”

And this was published the very next day after a kamikaze drove a car bomb into a military school in Bogota killing 20 and injuring 60. Yeah, right. https://www.infobae.com/america/colombi ... en-bogota/

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admin
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Re: Housing market situation

Post by admin » Sat Jan 26, 2019 11:05 am

i love colombia, but we don't take the security situation there lightly when visiting. we have a bunch friends that lived there for years or are colombian we check with for the latest news, and a friend with a security company sends us an updated list of hotels and places to stay that his people review regularly for their clients.

colombia however has come a long way, and as long as you don't go looking for trouble, it is probably still safer right now than a lot of less infamous central american countries or even mexico.
Spencer Global Chile: Legal, relocation, and Investment assistance in Chile.
For more information visit: https://www.spencerglobal.com

From USA and outside Chile dial 1-917-727-5985 (U.S.), in Chile dial 65 2 42 1024 or by cell 747 97974.

at46
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Re: Housing market situation

Post by at46 » Sat Jan 26, 2019 12:03 pm

admin wrote:
Sat Jan 26, 2019 11:05 am
colombia however has come a long way, and as long as you don't go looking for trouble, it is probably still safer right now than a lot of less infamous central american countries or even mexico.
Well, this here shows Colombia having practically the same homicide rate as Mexico and Brazil at 25 per 100K. Which is 'only' 9.26 times greater than Chile's at 2.7 per 100K. https://www.insightcrime.org/news/analy ... e-roundup/

at46
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Re: Housing market situation

Post by at46 » Sat Jan 26, 2019 4:36 pm

Also, Colombia is producing record amounts of cocaine these days. What the hell is that woman talking about trying to imply it's all behind when just the amounts seized at borders of various countries blow your mind (84 tones in Panama and 54 tones in Rotterdam/Antwerp in 2017). No wonder the renewed violence - plata o plomo. I think Colombia is actually going down big time. The mood of Colombians living in Chile is pretty sad also when they talk about their home country and no one wants to go back.

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Re: Housing market situation

Post by Baltimore » Wed Jan 30, 2019 7:26 pm

Hey, I was wondering if I could use some of your advice here (sorry if I'm repetitive).

I currently live in a nice apartment in Las Condes and I pay Y for rent. I currently have X of savings invested in a conservative portfolio of bonds and stocks that has been generating, on average, Y every month for the last 2-3 years (my investments already generate enough revenues to pay for my rent every month). I asked my landlord if he would sell and told me that he wouldn't for less than 2.2X approx., similar apartments sell for about that price in this area.

Question: Would it make sense to sell all my portfolio of X bonds and stocks now and give that as a down payment to buy this apartment and get a mortgage for the remaining 1.2X? From my own analysis, the answer is no unless this property will appreciate wildly in the next 20 years or if I put a gigantic value on the peace of mind of knowing that I won't have a landlord telling me that I have to leave.

I'm curious to hear your opinions on this.
Thanks!

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tiagoabner
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Re: Housing market situation

Post by tiagoabner » Wed Jan 30, 2019 8:27 pm

You can find do the calculation at this website to get the numeric answer: https://www.nytimes.com/interactive/201 ... lator.html

There's also a perceived value/perception part to that question, but that's up to you to think about.
I'm NOT your lawyer, accountant or financial planner. All information at this post should be considered for your entertainment only. Consult a professional before making a decision regarding whatever topic was mentioned in this post.

mem
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Re: Housing market situation

Post by mem » Wed Jan 30, 2019 8:51 pm

Baltimore wrote:
Wed Jan 30, 2019 7:26 pm
Hey, I was wondering if I could use some of your advice here (sorry if I'm repetitive).

I currently live in a nice apartment in Las Condes and I pay Y for rent. I currently have X of savings invested in a conservative portfolio of bonds and stocks that has been generating, on average, Y every month for the last 2-3 years (my investments already generate enough revenues to pay for my rent every month). I asked my landlord if he would sell and told me that he wouldn't for less than 2.2X approx., similar apartments sell for about that price in this area.

Question: Would it make sense to sell all my portfolio of X bonds and stocks now and give that as a down payment to buy this apartment and get a mortgage for the remaining 1.2X? From my own analysis, the answer is no unless this property will appreciate wildly in the next 20 years or if I put a gigantic value on the peace of mind of knowing that I won't have a landlord telling me that I have to leave.

I'm curious to hear your opinions on this.
Thanks!
Oy, without doing any further calculations or value judgments...I look at it this way:

You would be basically taking all of your liquidity (and recurring cash flow) and giving it to your landlord, while also taking on a significant debt burden.

Do you care not having any liquidity cushion if circumstances in your life go south for whatever/any reason?

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