Aussie dollar hits parity with Greenback

[mightytiges]

The Australian dollar has reached parity with the US dollar for the first time since the currency was floated in December 1983.

The Aussie rose to $US1.0003 at 11.15pm last night in overseas trading.

It was the first time since July 28, 1982 that the Australian dollar has traded at $US1.

http://www.theage.com.au/business/dollar-hits-parity-20101015-16ntx.html


If anyone is heading to the US enjoy it while it lasts (as long as the US economy stays in a mess). 

[WilliamPowell]

If anyone is heading to the US enjoy it while it lasts (as long as the US economy stays in a mess). 

Very good odds it will remain in a mess

The "Yes We Can" motto should now be "I Don't Know How" 

[FNM]

Hoping to go to the US in the next year or two, hope it stays this way 

[WilliamPowell]

Hoping to go to the US in the next year or two, hope it stays this way 

When we were over there in 2007 (the day we traded for Jordie  ) we were rapted to be getting $0.85-$0.87 for 1 Aussie $

Now parity - tempted to plan another trip 

[tiga]

Hoping to go to the US in the next year or two, hope it stays this way 

When we were over there in 2007 (the day we traded for Jordie  ) we were rapted to be getting $0.85-$0.87 for 1 Aussie $

Now parity - tempted to plan another trip 

While you are the WP, why don't you pick up a few investment properties. At the moment you could probably pick them up with the change in your wallet. 

[mightytiges]

Hoping to go to the US in the next year or two, hope it stays this way 

When we were over there in 2007 (the day we traded for Jordie  ) we were rapted to be getting $0.85-$0.87 for 1 Aussie $

Now parity - tempted to plan another trip 

While you are the WP, why don't you pick up a few investment properties. At the moment you could probably pick them up with the change in your wallet. 

LOL

I remember seeing a show a few months back showing College students over there buying houses somewhere in Florida for just $100k.

[Francois Jackson]

Hoping to go to the US in the next year or two, hope it stays this way 

When we were over there in 2007 (the day we traded for Jordie  ) we were rapted to be getting $0.85-$0.87 for 1 Aussie $

Now parity - tempted to plan another trip 

While you are the WP, why don't you pick up a few investment properties. At the moment you could probably pick them up with the change in your wallet. 

Leaving day after Cup day for NYC and Vegas

you can actually pick up a condo in central Manhatten for under 350k, the same price if not less than  a 1 bedroom in Melbourne CBD believe it or not.

They have very strict rules in renting out your place for 2 years max, but if your looking for easy money then a place in States for a 3 year investment will be easy money if you have spare cash lying around. However being in another country would be hard to manage

Once the USA picks up again within a year or 2, the USD will be back around 75 IMO.

[tiger101]

I would give the American property market more than another 3 years before you can start saying its easy money to be made.

[Francois Jackson]

I would give the American property market more than another 3 years before you can start saying its easy money to be made.

your probably right the USA are stuffed for many years to come, but if your looking at it purely from a USD/AUD point of view then i can see mid 70's level in a few years time and that represents a 20-30% profit.

The issue over there is they dont allow you to buy an apartment and then let it be rented for years on end. They have laws and their fees, which are like our body corp fees and so high its not funny.

[WilliamPowell]

Once the USA picks up again within a year or 2, the USD will be back around 75 IMO.

I think it more likely to go back to the 82-86 mark myself

But it certainly wont stay where it is now (98-99) forever

[mightytiges]

Since the Aussie dollar was floatd in 1983, 70 US cents has been par.

[Ox]

Hoping to go to the US in the next year or two, hope it stays this way 

When we were over there in 2007 (the day we traded for Jordie  ) we were rapted to be getting $0.85-$0.87 for 1 Aussie $

Now parity - tempted to plan another trip 

While you are the WP, why don't you pick up a few investment properties. At the moment you could probably pick them up with the change in your wallet. 

Leaving day after Cup day for NYC and Vegas

you can actually pick up a condo in central Manhatten for under 350k, the same price if not less than  a 1 bedroom in Melbourne CBD believe it or not.

They have very strict rules in renting out your place for 2 years max, but if your looking for easy money then a place in States for a 3 year investment will be easy money if you have spare cash lying around. However being in another country would be hard to manage

Once the USA picks up again within a year or 2, the USD will be back around 75 IMO.

what part of Manhattan?

Lower east side?
Mid town?
Uptown?
Brooklyn?
Chelsea?

I'm interested,so back it up tiger.
More info.

[tiger101]

http://www.rickotton.com/blog/?p=119

good article about the traps u can fall into when dealing with investment propertys in america and being an off shore landlord.

[mightytiges]

The RBA has just increased interest rates by 0.25% despite inflation being under control. Parity with the US dollar and beyond here we come.

[tiger101]

Could hit parity again tonight. American Federal Reserve is unveiling economic stimulus tonight as well aren't they?
hopefully the investors in American aren't to busy out voting to buy into Aus dollar.