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  #161  
Old 22.07.2011, 13:21
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Re: Swiss Franc Climbs to Record High

Interesting is that real estate in neighbouring Baden-Württemberg is sold to Swiss people to an unprecedented extent. Not so in case of France and Italy, where real-estate prices rose even faster than in Switzerland. Some real-estate traders just accross the border have a real super season right now. Real estate in Southern Alsace was bought up by people from Basel a few years ago, and real estate around Varese and Como by Swiss people also a few years ago.
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  #162  
Old 22.07.2011, 13:44
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Re: Swiss Franc Climbs to Record High

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Hopefully it keeps climbing - still get paid in Euro
You live in Switzerland, are paid in Euros, you're smiling, and you want the CHF to keep climbing?


I think I must be missing something important - please help me out here, someone
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  #163  
Old 22.07.2011, 14:04
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Re: Swiss Franc Climbs to Record High

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You live in Switzerland, are paid in Euros, you're smiling, and you want the CHF to keep climbing?


I think I must be missing something important - please help me out here, someone
She clearly referred to the climbing Euro, which has gone up from 1.14 to 1.17 ...... and of course hopes that it will go back up even further. This also would be good for the Swiss economy
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  #164  
Old 22.07.2011, 14:38
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Re: Swiss Franc Climbs to Record High

In a thread titled "Swiss Franc Climbs to Record High",

someone says...

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it further raises today
and immediately after that someone replies...

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Hopefully it keeps climbing - still get paid in Euro
so you say...

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She clearly referred to the climbing Euro, which has gone up from 1.14 to 1.17 ...... and of course hopes that it will go back up even further.
Your concept of "clear" is VERY different from mine, Wolli
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  #165  
Old 22.07.2011, 14:46
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Re: Swiss Franc Climbs to Record High

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In a thread titled "Swiss Franc Climbs to Record High",

someone says...



and immediately after that someone replies...



so you say...



Your concept of "clear" is VERY different from mine, Wolli
"it further raises today" already meant the Euro, and no longer the CHF and so, the rest is "clear as ink"
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  #166  
Old 22.07.2011, 17:23
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Re: Swiss Franc Climbs to Record High

Could be the end of fractionalized banking and paper money monetary policy.
If.....Ron Paul is elected to P.O.T.U.S then we may see the U.S return to the gold standard but only after defaulting. And he has said its not a problem if the U.S defaults. Most people consider Mitt Romney to be the republican forerunner but almost everyone I know back in the U.S supports Ron Paul or Obama. This election should be interesting. And as far as the CHF is concered when are we (shoppers) going to see the savings from cheaper imported goods? Seems they like to pocket the profits and pass no savings on to the consumer.
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  #167  
Old 22.07.2011, 17:59
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Re: Swiss Franc Climbs to Record High

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"it further raises today" already meant the Euro, and no longer the CHF and so, the rest is "clear as ink"
euro seems to have reversed again & is sliding down versus the CHF
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  #168  
Old 22.07.2011, 18:19
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Re: Swiss Franc Climbs to Record High

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euro seems to have reversed again & is sliding down versus the CHF
oanda.com indicates 1.1714 and so at least for the moment no "sliding down" of the Euro.
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Old 22.07.2011, 19:03
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Re: Swiss Franc Climbs to Record High

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euro seems to have reversed again & is sliding down versus the CHF
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oanda.com indicates 1.1714 and so at least for the moment no "sliding down" of the Euro.
I'd love to come and visit your universe sometime, Wolli - you must send me its address

Attachment 29975

Last edited by weejeem; 14.10.2011 at 16:03.
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  #170  
Old 22.07.2011, 20:45
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Re: Swiss Franc Climbs to Record High

Perhaps not even remotely comparable, but I like my mortgage in the Netherlands being cheap. When I came here December '09 it was 1.50 francs against the euro
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  #171  
Old 23.07.2011, 02:10
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Re: Swiss Franc Climbs to Record High

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I'd love to come and visit your universe sometime, Wolli - you must send me its address

Attachment 29975
1: 1.17141 accdg to

http://www.oanda.com/lang/de/currency/converter/
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  #172  
Old 23.07.2011, 13:42
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Re: Swiss Franc Climbs to Record High

My favourite is http://www.boersennews.de/markt/waeh...UR/CHF/profile
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  #173  
Old 23.07.2011, 14:07
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Re: Swiss Franc Climbs to Record High

Clear as MUD Wolli

Well, I can guarantee that the £ will go up suddenly in a few days, just after the money we've transferred over (it always happens, so it is bound to be true)

Last edited by Odile; 24.07.2011 at 17:45.
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  #174  
Old 24.07.2011, 17:28
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Re: Swiss Franc Climbs to Record High

Did not realise just how wide spread is the effect of the high franc
From Swissinfo;

"The plight of eastern European homeowners struggling to pay back Swiss franc denominated mortgage loans has prompted governments to introduce emergency measures.
In an effort to stem the rise of home repossessions, the newly elected Hungarian government banned banks from foreclosing most loans in the first quarter of this year.

The craze of accumulating debt in francs has also left banks in many countries exposed to defaults and even affected communities in Austria that unwisely speculated in currency exchange rates before the financial crisis.

Many people were not aware that they were taking much of a gamble, but the ploy backfired as the value of the franc escalated against their own currencies. Homeowners suddenly found their repayments skyrocketing and in some cases had to watch their loans outstrip the value of their houses.

By the time the economic crisis hit, some two thirds of all mortgage loans in Hungary were denominated in Swiss francs. In Poland, more than half of mortgages were in francs, while other eastern European and Baltic countries also had high rates
.


As an example of community speculation; The town of Payerbach could be left with a bill of up to €50 million (SFr58.6 million) unless it manages to unwind its positions in the Swiss currency"
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Old 24.07.2011, 17:51
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Re: Swiss Franc Climbs to Record High

Sorry fellas who think that the USD or GBP might go up anytime soon. Have a look at BRL and how it is appreciating against the USD for the past 10 years or so. Switzerland might not have a growth case like Brazil, but is a safe place if compared to the high debt nations like the US, and that will not change anytime soon.

Unfortunately this is pretty bad for the economies since the export sector is severely affected. Brazilian industrial sector is struggling for a long time and waiting for better times, but they won't come anytime soon - no matter how much the governments spend to try to change the trend, it's about economics.

The only reversion to the mean is for the USD, GBP and Euro to go down and not up!
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Old 24.07.2011, 17:53
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Re: Swiss Franc Climbs to Record High

Another effect is on the 'frontaliers' areas. I saw a programme the other day on areas just over the border in France, where they find it absolutely impossible to find staff for old-people's homes, school nurseries, hospitals, cafés, restaurants, etc- as the staff available chose to come over the border to get paid much higher salaries in CHF. Due to high rents in Geneva, lots of people who work there chose to live in France- and yet the schools and hospitals cannot find staff to deal with their own, let alone the huge numbers of incomers. Another issue at the moment is that of the huge shortage of hay and straw in France due to the hot weather and drought. We live near the border and we see huge lorries full of hay and straw crossing over to CH to sell at a higher price, thus compiling the problems in France. The French expat forums are full of pleas for hay and straw, and people giving horses they can't feed. And on the other side of France, the situation is reversed- with the Spanish exporting hay and straw to France, where they can get a better price- although the difference is not as high as with Switzerland. The knock-on effects are often not obvious.
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  #177  
Old 24.07.2011, 18:42
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Re: Swiss Franc Climbs to Record High

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By the time the economic crisis hit, some two thirds of all mortgage loans in Hungary were denominated in Swiss francs. In Poland, more than half of mortgages were in francs, while other eastern European and Baltic countries also had high rates
I read an article in Sunday Times a week or two ago where Brits had taken out CHF mortgages in Cyprus to by holiday homes.

The article explained that CHF mortgages were at rates half those available in GBP and Cypriot pounds. Now they pay double the repayments as when taken out due to the rise of the franc. But to my mind they are now in the same situation as if they had taken loans in other currencies at double the interest rates...
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Old 24.07.2011, 18:53
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Re: Swiss Franc Climbs to Record High

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I read an article in Sunday Times a week or two ago where Brits had taken out CHF mortgages in Cyprus to by holiday homes.

The article explained that CHF mortgages were at rates half those available in GBP and Cypriot pounds. Now they pay double the repayments as when taken out due to the rise of the franc. But to my mind they are now in the same situation as if they had taken loans in other currencies at double the interest rates...
no. it is much worse. now they have to pay (around) double for the principal amount borrowed. imagine thinking, ok. i'll buy this house for 100 gbps at 6% mortgage. but wait, let's buy it for 200 chfs and pay only 3% mortgage. since 1 gpb = 2 chfs, i save 3 gbps each year.

now 1 gbp = 1 chf, so now i make no interest savings, also i now have to pay back 200 gbps for the house instead of 100.
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  #179  
Old 24.07.2011, 18:58
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Re: Swiss Franc Climbs to Record High

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no. it is much worse. now they have to pay (around) double for the principal amount borrowed. imagine thinking, ok. i'll buy this house for 100 gbps at 6% mortgage. but wait, let's buy it for 200 chfs and pay only 3% mortgage. since 1 gpb = 2 chfs, i save 3 gbps each year.

now 1 gbp = 1 chf, so now i make no interest savings, also i now have to pay back 200 gbps for the house instead of 100.
Ah, there was I thinking of Swiss style interest only mortgages...
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Old 24.07.2011, 23:16
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Re: Swiss Franc Climbs to Record High

currently 1.1667 according to UBS
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