When blows out the "Condominium-bubble" in the area of Cabarete ?

[liam1]

DR RE market could see a decline in prices once international owners are forced to sell their retirement/vacation condos to offset the rising costs of living in their own countries, or once foreclosures start knocking on the doors of their main residences, and they will have to make a choice whether to save that residence by selling fast what they own overseas or let the main residence go and hold onto the vacation property. when money is in short supply people tend to sell everything they can do without.

also not to forget, Florida is becoming more and more attractive to international buyers because of the RE bubble burst there (Miami especially), and weak USD/strong EURO which favors European and Russian buyers.

the other thing that i question alot, how many baby-boomers will actually decide to retire here once they find out that 911 emergency system is not what it is in the US, and cost of living is equal, if not more.

[Rocky]

Originally Posted by liam1

the other thing that i question alot, how many baby-boomers will actually decide to retire here once they find out that 911 emergency system is not what it is in the US, and cost of living is equal, if not more.

Tell Megabiteme that, as he lives here, despite hating it, but he has no choice, because he can't live in the US with his monthly revenue.
That aside, we're in the Caribbean here and there's a price to pay for ideal weather and it's usually double the US and more.
If the lack of 911 emergency service were the deal breaker for US residents or any other nationals, then why have so many of them been moving here in wholesale proportions in the last 10 years?
I would guess that most US citizens would be glad to part with the 911 service, in exchange for not having "the other 911".

[liam1]

we are talking about RE buyers, and with all due respect, if Megabiteme is struggling to met the ends meet, i doubt he's looking to buy RE here.

the 911 system is VERY important to people of age, and the older they get the more they depend on it, so once they find out that in a case of an emergency an ambulance, a police car and a fire dept won't show up within any reasonable time-frame, if they show up at all, many people will get turned off, and will not trade that security for a few more shiny days a year. and as i mention there is south Florida, which is practically Caribbean.

[Rocky]

Originally Posted by liam1

we are talking about RE buyers, and with all due respect, if Megabiteme is struggling to met the ends meet, i doubt he's looking to buy RE here.

It was in response to you saying that it costs as much if not more to live here than the US, which is false.
I used him as an example, but anyone who has lived here for a long time will tell you that is so.
I made no mention or insinuation bout him buying RE.
He was just part of the evidence that your statement was incorrect.

the 911 system is VERY important to people of age, and the older they get the more they depend on it, so once they find out that in a case of an emergency an ambulance, a police car and a fire dept won't show up within any reasonable time-frame, if they show up at all, many people will get turned off, and will not trade that security for a few more shiny days a year. and as i mention there is south Florida, which is practically Caribbean. [/quote]
Nobody's expecting the DR to replace FLA.
It's been the NA capital of retired nearly deads for eons.
But you're a bit too concerned about what's happening in FLA.
When someone wants out, you know, real bad, when he's had it up to his ears with the NA way (or European for that matter) with all the controls and taxes and laws and bad weather and blah blah blah, he ain't gonna be going to FLA, he'll be looking here, so the only balloon that will burst is yours, as your deductions and evaluations are out in left field.
It's nothing personal.
You simply haven't fully understood what drives folks to come here and those who really want it, will pay.
The bonus is, IT"S CHEAP... REAL CHEAP as compared to the rest of the Caribbean.

[liam1]

Originally Posted by Rocky

...When someone wants out, you know, real bad, when he's had it up to his ears with the NA way (or European for that matter) with all the controls and taxes and laws...

not sure about your statement here. there are many posts here where people complain about the lack of the controls and the laws that NA offers.

also, unless i want to eat rice and beans every day, my wife and i can't get by without at least 2.000 USD a month, plus the rent.

and when i say "retirees", i would not put you and most of the posters here in that category. to me a retired person is someone who does not work any more, and is living off of the pension or the savings, as majority of the baby-boomers will be doing once they retire, and i question how many of them will come here to run the clock out.

[liam1]

double post.

[Rocky]

Originally Posted by liam1

and i question how many of them will come here to run the clock out.

Does it matter?
Does the DR have to keep them 'till death do us part?
I don't understandf any of your logic.
None of it at all, and apparently when I explain something to you, you don't understand a word either, and go off on a tangent about other issues, like as if to distract away from the pont of the thread.
Like trying to invalidate Megabiteme's assesment about living here cheaper than the US, by talking about him not buying RE.
What possible difference would that make?
We were talking about cost of living and your erroneaous statement that it costs more here than the US.
I don't care if you want to delude yourself with the RE perceptions you have.
It makes no difference to me.
I was trying to help you understand, but if you don't want to, that's fine to.
Do what you want with the info.
It's free and accurate.

[liam1]

someone implied that an influx of retired baby-boomers will have a significant impact on the RE here, and i said i question how many of them will actually come here to retire.

as far as the cost of living goes, there are many threads here on that topic, and general agreement is that it is as much as the US, if not more, unless you want rice and beans every day. the shampoo i buy is $5.5, toilet paper $4, coke $1.5, gas $5.5 a gallon, grapes almost $3 for a little package, watermelon $4, nutella $4.5... maybe you get a special discount at the Playero, i don't, i those are the prices i pay.

[catcherintherye]

Liam and Rocky, as one of those people you are speaking of, please allow me to explain the reasoning behind my decision.

As is the case with any commodity,when looking for a place to live after leaving the formal workforce (I say formal workforce since most retirees do some form of work after retirement, in fact close to 75% do some type of work) most people consider many factors.

One is the weather, or perhaps climate is a more appropriate word, and its association with the ease of lifestyle. For those relocating from the north and particularly the northeastern US, the warm weather and no snow to shovel are very appealing concepts.

Cost of living is another. That is particularly true with regard to housing costs. While living in the DR is not cheap, it is considerably cheaper than most eastern seaboard states. When everything is taken into consideration, including the price of heating oil, the cost of living is perhaps a quarter to a third less expensive than in the those states. Of course, that all depends on how one chooses to live.

A certain percentage of retirees also seek a community of people who they feel comfortable living with. This factor is very subjective, obviously, so each individual, given the opprtunity, will "try out" an area before making the decision to move. For me, the people I met while "trying out" the DR were the right fit, and a very important determinant. However, I know different people respond differently.

The aspect of community is probable the most important intangible variable. If there is no sense of connection to the people within the community it is unlikely a person would decide to live there. This is reason why forums such as DR1 are so important. If the first glimpse of a community is negative, there is little chance that community will attract new people.

The other factors include safety and security, health care and other services, and intrastructure.

Speaking only for myself, of all those factors to consider, I would rate the top three as, 1) the sense of community, 2) price / value of housing ratio 3) weather and a comfortable environment.

But that's just me.

[AK74]

Frankly speaking I experience some serious moral concerns when I hear statements that for a person (especially for an expat)of 70 y.o. and older living in DR is safe,healthy and economically beneficial.

Especially when I hear it not from an excited, idealistic, unaware and naive fresh expat baby-boomer from Boston, London or New Jersey, but from Dominican long-timers who know the country very well.

The R E A L country.