Euro through the roof, european shoppers flood NYC real estate mket

heheheheheheeeeeeeee u are so cute . i love you i love u becaise i just signed a contract

Yes, love is always there at contract signing, ask Sir Paul McCarthy

Let me right this down...we're being invaded by the Europeans with fat wallets!!

it's true... the dollar is too cheap.

Poster #1: Let me tell you right away that not that many Europeans are interested in the US market.
For instance no French I know in France are interested in investing in NYC. The interest rate in France is around 3.5%. They prefer to invest in France. Amongst all the French people residing in NYC that I know, no one is willing to buy in NYC because the prices don't make sense. Some of them are paying up to $5,000/month in rent in luxury condo in Brooklyn.

The market is going to soften for sure.

Europe is bigger then just France. And there are a lot of rich Europeans that see NYC as cheaper then London, Tokyo, etc. Lotta activity recently from foreigners with the weak dollar.

Take a walk at Whole Foods supermarket at Time Warner Center in Columbus Circle: 99% of clients are Europeans. Many (rich) French are also investede in NYC real estate, just a pied-à-terre, and French fries to go with it.

Dollar keeps sinking as we speak

Are they better than us?

one euro=one point thirty two eightyeight dollars, that is 1.3288

wishing something doesn't make it true...the market is not going to continue at this rate. that's a fact...everyone wake up!!!

hmm... examine the british sterling 1.9 pounds = $1 usd. So they are practically buying apartments at half price! wheww! SALE SALE SALE!

are we the ones wishing or are you? Wishing apartments to come down 50% will not make it true.

who said down 50%??? did you read my post carefully. $1 United States Dollar is equal to 0.5096 pence British sterling. So, 1 british pound = 1.96221 United States Dollars. So, if the brits bring over 500,000 pounds, they actually will convert that into having $981,103.94 USD. So duh duh duh!!! It's a sale for the brits.

14, i was talking to 11

Not every British person with money wants to buy in New York. Look at the listings on street easy...ALL THE ARROWS ARE DOWN!!!

#9, I don't understand the question, "Are they better than us?" Of course they aren't better than us. We're all the same, we're all wonderful human beings. SMILE :-)

Actually many foreigners stay away as immigration is a bitch. It is nearly impossible to get a GC these days and unless you buy all cash there is quite a bit of a currency risk. Remember just 5 years back it was the exact opposite.

Little black arrows. Pointing downward.

who said anything about immigration? pied-a-terre

>>pied-a-terrea<<
Now except if my name would be Gordon Ramsey and I just opened a restaurant would I want to do that?

Do you know how much stress it is to fly back and forth between Europe and US? It sounds good on paper but that"s about it.

I am doing it for work quite a lot in the opposite direction and nothing would make me want to have a pied-a-terre anywhere in Europe.

There was actually a study on NYMAG a while back, not a lot of money coming from abroad and that little percentage are teh Gordon Ramsey alikes.

europeans love fear mongering police states that ridicule teachers and the pay they make.
europeans love schools that lack basics, like books and have a teacher student ratio of 50-1.
europeans love olive gardens and outback restaurants on every other block.
europeans love knowing that their tax dollars pay for war and not healthcare.

america and nyc has so much to offer, how can anyone refuse us?

one day later, 1 euro is 1.3325 dollar

Excellent #22. I heard yesterday on one of the political talk shows, "We have to lead the world." Such hubris. It's actually rather sad, I think.

#22 have you been to europe recently? same shit different names. all the chains are already there, and their school systems suck.

so they can get the same thing here, but cheaper! good deal for all.

22# here, yes, i lived in paris for awhile, my wife and i went there right after 9/11, so many times people would hear us speaking english and come over and offer their condolences, prayers and heart felt wishes for NYC, it was humbling.

then we went back, right before ElBusho got reselected, so many people said they just hoped he wouldnt get elected and how they may not like our policies, they loved americans. I have not been back since, but I'm sure they are confused as to why bush is president. impeachment maybe the only way for america to get back into the good graces of the world, since re-electing bush kinda validated guanatamno, abu-ghraib, etc etc etc

Where's the flood? I went to three open houses on Sunday and I felt sorry for the lonely bored brokers. Also, those of us who are older remember that the British pound always used to be at 1.9 and the Euro was designed to be at 1 to the dollar, it just didn't stay there.

#27 says it all.

#26, our President's popularity (or lack thereof) won't deter people from purchasing an apt in NYC. other factors are at play.

I've heard there has been an increase of europeans buying second homes in NYC since the 90's but from what I understand their hasn't been this enormous surge recently.

just go to open houses in the hamptons.. free wine and food... that's what it's all about...

#12/14/27: You have a strange misunderstanding of how currency exchange rates work. Just because the numeric portion is double doesn't mean prices/costs are double. Prices of everything float around in each country too. For decades after WWII, the British Pound was about $5 US, but that doesn't mean that everything there was five times the cost of everything here. If your point is that there's a psychological effect, yes, that might be happening. More for travel than apartment purchases, though.

Have you visited London and tried to buy anything there with your dollars?

London is like double the price - same number but a pound sign. . . .

i lived in london for 3 years. the prices are similar or cheaper to nyc. renting (aka letting) an apartment is cheaper than Manhattan. food is definitely cheaper at asda and tesco.

Yes and there are rent controlled apts and freshdirect here, but I'm talking in general.

My friends in London who moved to NY dont think it is cheaper. When did you move back #34? because my friends just moved back.

I had a hamburger and fries at a London pub/bar for lunch five years ago and it was well over $30 USD. I was shocked.

one euro, 1.3341 dollars

just go to open houses in the hamptons.. free wine and food... that's what it's all about...

Europeans don't go for (cheap) wine and food no matter how free it may be, they go for gourmet organic international as in Whole Foods