ibarra Posted March 5 Author Report Share Posted March 5 5 minutes ago, Mainecoons said: ... In this environment, IMO, it would be better to price in pesos from the beginning. ... I agree. Then, the buyer can convert to their own currency to obtain a price. Everything else we buy, that I am aware of in MX, is priced in pesos. This seems like a no brainer to me. If a Canadian sees a price in U.S. dollars, don't they have to convert? That pretty much makes my point. I understand that the realtors are are trying to get foreigners interested in their property by doing this. Let the realtors/sellers listings verbiage draw people in. Not that hard to do. 4 Quote Link to comment Share on other sites More sharing options...
Whipstock Posted March 7 Report Share Posted March 7 Today's statement from Powell, has helped the USD. "On Tuesday Jerome Powell told the Senate that he expects rates to be higher for longer,.." Quote Link to comment Share on other sites More sharing options...
Whipstock Posted March 8 Report Share Posted March 8 Well, that was short lived. 🤑 1 Quote Link to comment Share on other sites More sharing options...
Mainecoons Posted March 9 Report Share Posted March 9 On 3/7/2023 at 3:25 PM, Whipstock said: Today's statement from Powell, has helped the USD. "On Tuesday Jerome Powell told the Senate that he expects rates to be higher for longer,.." Not for long. 17.93 this morning. Quote Link to comment Share on other sites More sharing options...
Mainecoons Posted March 9 Report Share Posted March 9 On 3/7/2023 at 3:25 PM, Whipstock said: Today's statement from Powell, has helped the USD. "On Tuesday Jerome Powell told the Senate that he expects rates to be higher for longer,.." Not for long. 17.93 this morning. Quote Link to comment Share on other sites More sharing options...
ibarra Posted March 9 Author Report Share Posted March 9 2:15pm Thursday xe.com 1 USD = 18.2257 MXN 1 MXN = 0.0548677 USD This will fluctuate all day, probably every day. 1 Quote Link to comment Share on other sites More sharing options...
Mainecoons Posted May 11 Report Share Posted May 11 17.54 today. I'm sticking by my prediction of 16 or lower. That should take a lot of wind out of the sails of the local RE market. Quote Link to comment Share on other sites More sharing options...
ibarra Posted May 11 Author Report Share Posted May 11 32 minutes ago, Mainecoons said: 17.54 today. I'm sticking by my prediction of 16 or lower. That should take a lot of wind out of the sails of the local RE market. IMO Not just the real estate market will feel the impact. Quote Link to comment Share on other sites More sharing options...
HoneyBee Posted May 11 Report Share Posted May 11 Well given the current US debt it will be no surprise to see the dollar drop below 16. Quote Link to comment Share on other sites More sharing options...
tomgates Posted June 9 Report Share Posted June 9 17.28 close today. I recall buying a new car in summer or fall 2015 and the rate was 16.80. This close today is the highest since then. In real estate, the deeds are in pesos. When we bought in 2005 the exchange rate was 10:1. When we sold in 2020, the rate was 21:1. The Mexican authorities would say we more than doubled our money. Far from the truth. Quote Link to comment Share on other sites More sharing options...
Mostlylost Posted June 10 Report Share Posted June 10 On 5/11/2023 at 8:45 AM, HoneyBee said: Well given the current US debt it will be no surprise to see the dollar drop below 16. Actually the dollar is stronger today than 30 days ago against the Euro and most other world currencies. The Mexican peso getting stronger against most world currencies in the same time period including the US dollar. 1 Quote Link to comment Share on other sites More sharing options...
Mainecoons Posted June 15 Report Share Posted June 15 On 6/9/2023 at 4:16 PM, tomgates said: 17.28 close today. I recall buying a new car in summer or fall 2015 and the rate was 16.80. This close today is the highest since then. In real estate, the deeds are in pesos. When we bought in 2005 the exchange rate was 10:1. When we sold in 2020, the rate was 21:1. The Mexican authorities would say we more than doubled our money. Far from the truth. How bad did you get hit on with capital gains on an artificial "profit" due to the drop of the peso? Quote Link to comment Share on other sites More sharing options...
ibarra Posted June 15 Author Report Share Posted June 15 It is my understanding that no capital gains will be charged if you can prove the property is your primary residence and you have lived there as your primary residence for three years. There is also a tax exemption value which changes from year to year and can be upwards of $200,000 U.S. and that maybe for each name on the deed that qualify. We were not required to pay capital gains when we sold our home in 2007 in San Carlos, Sonora, as it was our primary residence for almost 9 years, we made a considerable profit. Quote Link to comment Share on other sites More sharing options...
RickS Posted June 16 Report Share Posted June 16 1 hour ago, ibarra said: We were not required to pay capital gains when we sold our home in 2007 in San Carlos, Sonora, as it was our primary residence for almost 9 years, we made a considerable profit. Shhhhh! 1 Quote Link to comment Share on other sites More sharing options...
ibarra Posted June 16 Author Report Share Posted June 16 Yikes! MXN - Mexican Peso USD 17.05 CAD 12.93 Quote Link to comment Share on other sites More sharing options...
RickS Posted June 16 Report Share Posted June 16 Curious.... how does the rate of the Canadian dollar to peso compare to the (fall of the) US dollar over say the last 3-5 months? Quote Link to comment Share on other sites More sharing options...
Mostlylost Posted June 16 Report Share Posted June 16 3 hours ago, RickS said: Curious.... how does the rate of the Canadian dollar to peso compare to the (fall of the) US dollar over say the last 3-5 months? The dollar has not fallen in the last 3-5 months in relation to most currencies'. the US dollar has gotten stronger the Peso has gotten stronger February 2 100 pesos cost 4.96 Euros June 2 100 pesos cost 5.36 Euros = Peso stronger February 2 100US cost 91.87 Euros June 2 100US cost 93.32 Euros = Dollar stronger February 2 100 pesos cost $7.19 Canadian June 2 100 pesos cost $7.71 Canadian = peso stronger February 2 100US cost $133.80 Canadian June 2 100US cost $134.61 Canadian = Dollar stronger Actually the Mexican government is concerned about the strength of the Peso. The cost of Mexican exports has risen too much and will cause sales to fall The other concern is the over five billion dollars sent home by Mexicans in the USA to support their families in Mexico is yielding far fewer pesos to help them. 3 Quote Link to comment Share on other sites More sharing options...
Mainecoons Posted June 18 Report Share Posted June 18 Getting very close to 17. I expect to see Mexico begin to cut interest rates soon. The very high rates here are probably the main reason for the high Peso. 1 Quote Link to comment Share on other sites More sharing options...
Jim Bowie Posted June 18 Report Share Posted June 18 59 minutes ago, Mainecoons said: Getting very close to 17. I expect to see Mexico begin to cut interest rates soon. The very high rates here are probably the main reason for the high Peso. Agree with the high interest rate cause. Mexico will hurt if they don't get the peso weaker soon. 1 Quote Link to comment Share on other sites More sharing options...
Mainecoons Posted June 19 Report Share Posted June 19 For those of us who have significant holdings in Cetes, the interest rates are a two edged sword. Costs in pesos are higher but ROI is a lot higher. 1 Quote Link to comment Share on other sites More sharing options...
tomgates Posted June 20 Report Share Posted June 20 MC, Didn’t get hit with any capital gains. Our resident permanent helped as did having either our Curps or RFC on utility bills plus not having any real estate transactions within 5 years. 2 Quote Link to comment Share on other sites More sharing options...
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