Thinking Argentina or Turkey in the recent years – if the local inflation is so severe that the price of grocery in the morning vs evening (on the same day) is different, how do people make large purchases like a house or a car? How is the price determined and who would provide the long term financing?
In: Economics
Countries with high inflation, and even those without, often price things like cars and homes in dollars even if day to day purchases are in their own currency. I know this is how it works where my in-laws live. It’s a smaller country, one with a fairly stable economy and currency but real estate is still in dollars.
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