Real Strong Dollar = Real Estate Deals

Buying Real Estate With A Strong Dollar [Unsubscribe]( [Wiggin Sessions] August 03, 2022 Real Strong Dollar = Real Estate Deals “Chances are the movement of the euro as against the dollar will be relatively moderate.” — Robert Solomon, who died before 2008. [Addison Wiggin]Dear Reader, The unified paper euro began circulation on January 1st, 2002, after more than a decade of political debate between its twelve charter countries. Each country agreed to give up their domestic currency and adopt what had been, for the first three years, an 'invisible' currency. The euro was only used for accounting purposes and electronic payments. Before launch, the euro’s under-the-table conversion rate dropped as low as .83 cents to every American dollar. When euro banknotes and coins started circulating in the market, it rose slightly to 88 cents. We were living and working in Paris at the time. We heard the hubbub. Traders, merchants and Le Pen supporters were paranoid the official launch of the euro would end in disaster. Many people hoarded their old French francs. We’d see them at brocantes and antique stores talking about French sovereignty and those darn Germans. Here’s the thing. We were writing and editing the Daily Reckoning at the time at our offices on the Rue de la Verrerie. But because Agora is an American company we were still getting paid in U.S. dollars. Paid in dollars and spending in euros. For our family it was like getting a nearly 20% raise every paycheck. Then look at what happened. The patina rubbed off, and the euro entered a bull market versus the dollar: [Click here to learn more]( Look at 2022… Euro reaches parity with the dollar again! The mayhem feared by – and reflected in – the markets never materialized. The biggest cash changeover in history took hold without a hitch. By 2004, still getting paid in dollars and spending in euros, the euro had rallied to $1.35. Crazy. Our family purchasing power dropped by 50% in less than three years. We traded the swaps and dutifully bought euro through our Everbank account. But lordy, was it a mess. Time to head home. We’d enjoyed a real strong dollar while it lasted. The euro continued to go up, reaching an apogee of nearly $1.60 during the 2008 financial crisis. But just last week the euro fell back to parity with the American greenback, ending nearly two decades of strength. And so, once again, we set our eyes abroad. [And got our buddy Ronan on the Wiggin Sessions](. We discussed the relative strength of the dollar and what it means for his work in international real estate. [Click here to listen to our talk](. His modus operandus: he groups his readers together and strong-arms good deals using their “group buying power” to find fresh developments in what Ronan calls “best-of-class” locations. Lagos, Portugal. Playa del Carmen, Mexico. Dubrovnik, Croatia. “These are all places where there's a very finite amount of supply,” says Ronan, “where demand is growing, where there's still a moment where we can get in at near ground floor pricing, and also where costs are rising.” “[So what's happening?]( We've got inflation. We've got supply chain issues.” To create a real estate project, you need steel, you need labor, you need all these things, but you also need permits. You also need the output from government bureaucracies, which in many cases now they've years behind. They've just become completely inundated because the volume of requests soared at a time when their offices were just shut, and now they don't even know what to do with it. So this is restricting supply as well. At the same time, [demand is surging](. “I'm calling it the Era of Scarcity.” Ronan says. “But Addison, that in no way means that everywhere is a buy.” [Click here to hear when and where Ronan says you should buy.]( I came back to Ireland this summer with a view to buying a vacation home. I had my eye on a couple of areas of Ireland, and it's just not going to happen. It is just the worst moment ever to consider buying a home in Ireland, a home of any description, because prices are through the roof, there's no inventory, it's an awful nightmare bidding process where you're probably going to invest a ton of time and money getting to the point of making an offer and just get outbid. So this is an era of scarcity.” And what I do with my team is, in the context of this environment, we find that the very small number of places where everything is aligned, where we've got the surging demand, where we've got best in class inventory, where we've got a macro situation that means demand is going to continue to grow, and where we can get our hands on [amazing condos or amazing homes at a deeply discounted price](. [Click here to learn more]( [The Session is worth a look-see]( as Ronan talks in detail about the different deals he’s sourcing for the remainder of the year… in an environment where the strengthening dollar is going to be great for investing in international property. Or just a chance to snag some pristine waterfront locations to rub your toes in sand. You can find our talk [here](. Follow your bliss, [Addison Wiggin] Addison Wiggin Founder, The Wiggin Sessions P.S. Our video editor Grant is enjoying the fruits of his labor in Mykonos, Greece. He’s surely enjoying euro parity as we did lo those many years ago. Cheers. Urgent Rebroadcast [Click here to learn more]( Sign up for the Bonner Private Wine Club [Click here](. You won’t find these bottles at your local liquor store. Ed. note: Got something to say? Send your feedback to The Wiggin Sessions, [here.](mailto:WigginSessions@5minforecast.com) Follow the Wiggin Sessions on Social Media! [Facebook Group]( [Twitter]( [Instagram]( [YouTube]( [LinkedIn]( [The Financial Reserve]The Wiggin Sessions is committed to protecting and respecting your privacy. We do not rent or share your email address. By submitting your email address, you consent to Consilience, LLC. delivering daily email issues and advertisements. To end your The Wiggin Sessions e-mail subscription and associated external offers sent from The Wiggin Sessions, feel free to [click here.]( Please read our [Privacy Statement.]( For any further comments or concerns please email us at support@5minforecast.com. 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