Old San Juan

I am enjoying wonderful old San Juan and have loaded some pictures below. According to the last US census, 350,000 Puerto Ricans have left their enchanting island in the past few years. Such a shame but then the financial crash has been particularly harsh on the island’s economy.

Puerto Ricans didn’t have a sub-prime problem of their own but suffered fallout from America’s crash. And, of course, they had their own property madness with absurd prices and over-development of new homes. Apparently, San Juan alone has 20,000 finished but unsold new units.

Prices have dropped by about half but my island banker friends tell me that they will have to drop further — at least by another 20 percent before the bottom of the market is reached. That will take about another 12 months, they say. Auctions have started but there is still a lack of realism by the owners, who are placing too high reserves on their properties.

Anyway…here are some pics from the Gallery Inn in old San Juan. An excellent place to rest, enjoy good food and wine and conversation and enjoy tranquil surroundings.

 

 

 

Trump and the English Language

For those of us who miss having a President able to mangle and abuse the English language with aplomb because there is no Bush in the White House, the choice is obvious. There is, of course, Donald Trump, who displays his dexterity with the English language in an angry letter to the New York Times to complain about the coverage he gets from one of his pet peeves, columnist Gail Collins. Yup, that’s the one he says has a “face of a dog.”

He wrote: “Even before Gail Collins was with the New York Times, she has written nasty and derogatory articles about me. Actually, I have great respect for Ms. Collins in that she has survived so long with so little talent. Her storytelling ability and word usage (coming from me, who has written many bestsellers), is not at a very high level. More importantly, her facts are wrong!”