How do you feel about SA today? Score 1-10.

[Dave]

Exchange rate fluctuates a little, but it’s only going one direction and that’s unfortunately not the way you want it to.

A little? I know just how it can shaft you badly.

I sold my house in 1996 and got around 6:1 when I converted the profit to GBP, when I sold my flat in 2003 it was more like 12:1 . My money was effectively worth half as much in around 6 years.

 

[Sinbad]

A little? I know just how it can shaft you badly.

I sold my house in 1996 and got around 6:1 when I converted the profit to GBP, when I sold my flat in 2003 it was more like 12:1 . My money was effectively worth half as much in around 6 years.

and I'm staring 21:1 in the face

 

[Dave]

and I'm staring 21:1 in the face

I suspect the people who are posting that they are planning on leaving in 2 or 3 years are going to suffer far worse.

 

[biometrics]

I suspect the people who are posting that they are planning on leaving in 2 or 3 years are going to suffer far worse.

Nope, R10:$ by then.

 

[Dave]

Nope, R10:$ by then.

I really do like your optimism.

 

[biometrics]

I really do like your optimism.

You're not here so you don't see what I see. This country will become hugely successful over the next ten years.

 

[Dave]

You're not here so you don't see what I see. This country will become hugely successful over the next ten years.

That wasn't sarcastic, I do admire your optimism but I don't think many will agree with it.

On a side note, I can remember when US$1 wasn't even worth R1.

 

[biometrics]

That wasn't sarcastic, I do admire your optimism but I don't think many will agree with it.

On a side note, I can remember when US$1 wasn't even worth R1.

You should see how many Brits and Germans come settle here in the Cape. They must not have gotten the message.

 

[Dave]

You should see how many Brits and Germans come settle here in the Cape. They must not have gotten the message.

There's a difference there, they're taking advantage of the weak exchange rate and the decent weather, they'll be at the front of the queue at the airport if the shit hits in the fan though.

 

[biometrics]

There's a difference there, they're taking advantage of the weak exchange rate and the decent weather, they'll be at the front of the queue at the airport if the shit hits in the fan though.

Always a retort from the expats. I don't care. I love it here.

 

[Dave]

Always a retort from the expats. I don't care. I love it here.

Where's the retort? I'm just saying that those people are just fair weather residents, if things get tough they'll be gone.

 

[biometrics]

Where's the retort? I'm just saying that those people are just fair weather residents, if things get tough they'll be gone.

Btw, 1 Jan 2010 it was nearly ZAR10:GBP. Better than you got in 2003.

 

[Dave]

Btw, 1 Jan 2010 it was nearly ZAR10:GBP. Better than you got in 2003.

Do you mean 2011? It was R10.45 in Jan 2011, beginning of Jan 2010 it was R11.75.

 

[biometrics]

Do you mean 2011? It was R10.45 in Jan 2011, beginning of Jan 2010 it was R11.75.

Yes end 2010, beginning 2011.

Point is the sentiment some have that it only goes one way is BS. It's going to take some time to undo the Zuma lost years.

 

[Dave]

Yes end 2010, beginning 2011.

Point is the sentiment some have that it only goes one way is BS. It's going to take some time to undo the Zuma lost years.

The reason many people believe that is because they've looked at the historical graph, it does show an unfortunate trend.

 

[biometrics]

Where's the retort? I'm just saying that those people are just fair weather residents, if things get tough they'll be gone.

Not so sure about that. Some are swallows, sure. Many sold up and came to retire here, they can't go back unless they bankrupt themselves. Case in point the Brits that live in Atlantic Beach next to Melkbosstrand. Those houses are expensive.

 

[biometrics]

The reason many people believe that is because they've looked at the historical graph, it does show an unfortunate trend.

View attachment 7258

Best to exclude the Apartheid years, don't you think?

 

[Dave]

Not so sure about that. Some are swallows, sure. Many sold up and came to retire here, they can't go back unless they bankrupt themselves. Case in point the Brits that live in Atlantic Beach next to Melkbosstrand. Those houses are expensive.

What's your idea of expensive? If those retirees sold a house in the south east of England to move to a house in the Cape a R5 million house is chump change.

 

[Dave]

Best to exclude the Apartheid years, don't you think?

It doesn't really change the graph, if anything the Rand was much more stable until the late 80's.

Start it in 94 and the trend is still the same

 

[biometrics]

It doesn't really change the graph, if anything the Rand was much more stable until the late 80's.

Start it in 94 and the trend is still the same

View attachment 7259

Exclude Zuma and the early democracy years and it's relatively stable. We'll return to that.