Today the US Dollar hit a fresh low against the Euro.  This means Phoenix real estate just got cheaper for Europeans wishing to buy a second home or investment property. Obtaining a home mortgage for Europeans is similar as that for Canadians.  As I did yesterday, I have graphed what a $250,000 home would cost in terms of the Euro.  This chart plots prices from the beginning of the year (2007).

The maximum price was 193,725 Euros, reached on January 13th, and the low was at 174,850 Euros reached on October 22nd.  That is a 9.74% fall from the peak, half the fall compared against the Canadian dollar.

Just for kicks I also graphed the British Pound. 

The maximum price was 129,850 GBP, reached on March 7th, and the low was at 121,225 GBP reached on July 25th.  That is a 6.64% fall from the peak, not as great as that for Canadians and Europeans. Also, the cycle is a bit different, but an overall downward trend nonetheless.

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Tags: british pound, euro, Real Estate
Categories: Arizona, Phoenix, Real Estate