Greener Grass

The most oft posed question is "Why in the world would you move here from the US????" Argentines look at us wide eyed and incredulous when we say we are living here, making a life here not just passing by for a month to sample the empanadas and Malbecs. The 2001 economic crisis is still quite fresh in people's memory. I've been told by more than a few locals that the majority of Argentines long to move to the US ("land of opportunity" just like the too dulce sweet commercials promise). They have a cynical view of opportunities in their own country after having been robbed, fooled and lied to by the government over the years. Almost weekly the lead article in the local paper "La Nation" laments true inflation levels vs. the laughably low numbers released by government statisticians. You'd only have to be here a week or two to see how quickly the cost of basic food items can and is doubling in some cases. We paid rent on a few weeks ago and for the first time in four months the apt owner wanted US dollars not argentine pesos. At the bank that day there was a long line of locals exchanging pesos for dollars. Hoarding what they believe to be a safer more reliably currency. I'm sure some know the truth. That the strength of the US dollar, despite inflation, provides a much better quality of life for us - even if not for them. Some days I feel guilty about it, most days just grateful.

Very interesting whats going on with the markets in the states these past few weeks. Thanks to my Series 7 classes I have a better clue in to the house of cards affect of mortgage backed securities and the like. Could never happen here as mortgages don't exist. Yep, all real estate transactions are 100% cash. Interesting thing about dealing in cash is that it really strips away the facade of economic status. In the states, a grade school teacher and an investment banker could be living in the same neighborhood courtesy of fancy financing. Here, if you buy an apt in Recoleta - everyone knows you have more than $100,000 cash to spend on your housing. You're not teacher or even a lawyer or banker (unless you come from a family that already had a lot of money). Revealing in a way thats a bit too close for comfort. Do I really want everyone I meet here to have a peek at the Alexander family balance sheet? We are considering our options again as our apt lease is up end of Sept. Whether to rent another six months and see what happens with real estate market post presidential election in October (most think the current presidents wife Christina Kirchner will win easily) or settle in now? If we settle in, do we buy in a more middle class neighborhood to fit in with people our age and educational background or live in one of the ritzy neighborhoods with other expats and the wealthy argentine families we frankly have little in common with...