I’m Freefallin’

So the song goes… and the above title could also be the anthem of the US dollar, as yesterday, and again today it set new record lows against the euro.  It is now trading at $1.52 per euro (and that is the INTERBANK rate, not the retail rate!).  I had foreseen this happening last August, when the dollar was setting new record lows at that time in the neighborhood of $1.38-1.40/euro.  Those rates sound like bargains today.

For those waiting for a rebound in the dollar’s strength, the good news is that it will happen; the bad news is that it won’t be anytime soon.  What with a stagnant economy, record oil prices, a Fed chairman who continue to be ready to drop interest rates, and our humongous trade deficit, relief is nowhere on the immediate horizon.

Fortunately for moi, I now have a fair number of hard assets in euros, and so the impact is minor.  Now… if I could only give up eating while I’m in Paris! 

Great News!

This morning, after months of waiting, we finally closed on Chez La Tour, our laterst fractional project in the 7th arrondissement.  What lies ahead is 3-4 months of renovation work, moving plumbing lines, adding a new kitchen and removing the old, and the most fun of all; furnishing the finished apartment with beautiful antiques, artwork and other accoutrements to make it truly feel like a Parisian home for its Owners.

Pending Price Increase – Chez La Tour

We plan on closing on Chez La Tour on February 28th.  As is tradditionally my policy, we will be adjusting our price on remaining shares available in this apartment to 109,900 euros, effective March 1, 2008.  Our pre-closing price of 99,500 euros will no longer be available at that point.

On Chez La Tour, we have introduced a new Owner usage scheme, whereby Owners are allowed to pick their month of usage on a permanent basis from those months available.  Not surprisingly, the late spring and summer months were the first to go, although there is still a good selection of autumn months at this moment.

Chez La Tour is our largest and most elegant project to date.  This 88 m2 2 bedroom 2 bath fully furnished apartment is located in the ritzy 7th arrondissement, just steps from the Seine, the Metro, and the Eiffel Tower.  To learn more, just visit our website at www.parishomeshares.net and click on “Available Properties.”