Dropping dollar cramps the style of Americans abroad

[Fidel]

How long before the Chinese are picking up mail order American brides and were all headed over to the US for some sanuk?

 

By Kim Murphy

Los Angeles Times / December 9, 2007

 

LONDON - Karla Keating and her husband had retirement on their minds in May when they got what they considered an offer too good to refuse: a three-year stint in London.

 

Coming from North Carolina, they knew it was going to be a bit of a financial leap. But the major US bank where her husband is an executive lured him with a 33 percent increase in pay. Within weeks, they had crossed the ocean and found a nice flat near Marylebone for 1,820 pounds - about $3,750.

 

"The estate agent told me the price, and I said OK, I guess that's kind of comparable to prices around Europe. And he said, 'That's the price per week,' " Keating recalls. Since then, it's been all downhill.

 

The iPod Nanos for the children cost 99 pounds apiece (about $204), compared with $149 in the United States. Keating's six-Diet Coke-a-day habit got shaved quickly to one, at $2 a can. They sit at the end of the day on their small balcony overlooking Great Portland Street, and her husband smiles (sort of) and says, "Here's your $12 glass of wine."

 

"When I got here I was like a deer in headlights. I was just, 'Oh my God' about everything," Keating said. "We figured out that with the increasingly weakening dollar, in reality he is making less than he was making 20 years ago."

 

Full Article

[Fidel]

BTW, I watched an interview on line with a couple in the US who are on reasonable incomes, with a combined value of about USD80k.

 

They have 2 kids and rent a home.

 

The husband was planning to save USD25k over 5 years for a down payment on a home.

 

His wife thought he was being optimistic!!!

 

When will people in the US catch on to the fact that they're being conned?

 

At least USD20k per US family of 4 so far on the war in Iraq!

[rchapstick]

Sorry, but this guy was an idiot for negotiating such a lousy expat package.

[Faustian]

Sure, but it's damn expensive in the UK...Americans don't realise how much the english get scammed...same products often 50-100% more.

[OCgringo]

a Diet Coke for one UK pound !

 

no Tesco around his houuse ?

 

sounds like another story with made up "facts" to prove a point ,

Yes the UK is expensive for Yanks and also many Euros , but this is just another puff piece to fill in between the advertiments !

 

OC

[Steve]

Doesn't he get paid in pounds? I thought U.S. companies paid you in the local currency? Or gave you an option? I was sent to Tokyo several years ago and were given an option to have monies paid in dollars to my U.S. account at the home office or paid in yen if a bank account was set up locally.

 

The post saying its his fault for not negotiating a better package is right ultimately but unfortunately a lot of americans not used to international traveling get taken the first time. Most people solicit the opinion of coworkers who have done it before or friends who have.

 

Also, most large, global cities (NYC, London, Tokyo, Paris, Rome) are usually pretty expensive. London is much more expensive than say Birmingham or Manchester. However the money is in London the capital. NYC is much more expensive than any where else in the states. I wouldn't consider working in NYC for less than 100k because of the cost of living.