THE EDITOR, Sir:

PLEASE ALLOW me to address an issue that I think is important to your readers.

I have noticed in the print media that a lot of people in the real estate business, developers and even rental agencies, are advertising their properties for sale and for rent, and quoting the prices in United States (US) dollars. I did not know that the people in Jamaica who are renting or buying property are earning US$ here in Jamaica.

I am very annoyed whenever I call a real estate agency in Jamaica and they quote me their prices in US currency. I am a Jamaican and I live in Jamaica and I only earn Jamaican dollars. Why should anyone be quoting me prices in US$? I can understand if you are advertising your property in the US, Canada or the United Kingdom, but how can this be if you are trying to attract Jamaican customers in Jamaica?

Total madness

This practice cannot be good for Jamaicans. If an owner of a property is renting somewhere - commercial or residential - and he insists that he wants US$1,000 per month and the tenant agrees and the exchange rate is now at $$72 to US$1, then when the value for one US$ increases in Jamaican dollars, the tenant's rent will increase as well. Therefore, the owners are always at an advantage. I think this is total madness. Minister Audley Shaw, please address this problem immediately.

I am sure that the Jamaican people are interested in knowing if this practice is legal. Will the minister of finance let us know?

I am, etc.,

DESMOND 'MILO' BOND

PO Box 431

Kingston 8