South Florida Real Estate Investment
Euro versus Dollar, Investments in the US continue to be of value to the Europeans
The dollar fell after the closely watched University of Michigan consumer sentiment index came in below expectations.
The index fell to 95.8 in January from 97.1 in December, well below analysts' expectations for the reading to tick up to 97.4.
The news comes in the wake of a disappointing index on manufacturing activity in the Philadelphia region and does not bode well for U.S. spending growth in the near term, analysts said.
Europeans continue to pursue Real Estate in South Florida because of the Money Indexes and the popularity with Europeans in a need for a great investment. The weather is South Florida is another big part why this market is doing so well. A Manager from the South Florida Listing service said that "People who buy Real Estate in the US will receive about a 30% profit on the day of closing just in the difference between the Euro and the Dollar. The European countries may have more of belief in the US economy. Porbably more than the vaerage US citizen." Email for South Florida Investment information Click Here.
The Custom and Executive Homes in South Florida are in high demand with the main focus being on the investment value. Many of the investors are not all full time residents, many will visit and stay in their florida home for months at a time.
Euro, Pound Rise
The euro settled above the key US$1.30 mark following the release, reversing some of the dollar's strong gains over the past few days on the back of hawkish comments by Federal Reserve officials.
The pound meanwhile also benefited from the weak Michigan data, bouncing back against the dollar but remaining weak against the euro after this morning's dismal UK retail sales data for the crucial Christmas period.
Official figures showed retail sales fell by 1.0 percent in December on the previous month, against the 0.6 percent increase recorded in November and expectations of a modest increase of 0.3 percent.
The market's reaction was rather more subdued than it might have been, however, after Bank of England Governor Mervyn King said last night that December retail sales should not carry "much weight" and that it will take a few months before the bigger picture emerges.
Interest Rates
Analysts broadly conclude that the Bank of England is likely to keep interest rates on hold at 4.75 percent in the near future and the market will have to await the next few months' data before pricing in a rate cut.
"Mervyn King's warning last night about how December's release gives only a partial picture during the Christmas period means that a knee-jerk rate cut is not in the cards," said Investec analyst Philip Shaw.
There was some positive news elsewhere, however, with mortgage lending data from the likes of the British Bankers Association and the Council of Mortgage Lenders suggesting that the UK housing market could be stabilizing.
Next week, the focus will be on the release of the minutes of the last meeting of the BoE's rate-setting Monetary Policy Committee and on the preliminary estimate of fourth quarter GDP.vesting in south Florida. Commerical and residential investments from european companies and investo
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