An approximate 8 million Filipino workers are in overseas employment, giving them the chance of sending their hard earned money back to their home shores. At least that was the situation until the dollar started losing its value not so long ago.
With the weak U.S dollar come major challenges for all those overseas stationed Filipinos who were more or less responsible for the strong Philippines property boom of 2006 and 2007. Their local peso value has dropped by 10 percent since the fall of the dollar and this has caused a ripple effect in the community.
Where before workers would send their money home to invest into local properties, now they can hardly afford to do this anymore. With 1/5 of their income gone (in Philippine terms) the building boom has slowed down tremendously.




