Say, you want to buy a house in the UK. You loan $450.000 and immediatly convert them to Euros. You will then have approximately €300.000. Now you have a house worth €300.000 in combination with a loan that is worth €300.000. When the dollar sinks even further, which it will, your loan is becoming worth less measured in Euro while your house will just gain value. And don't worry about geting a loan because American bankers will prefer goodwilling Europeans over deadbeat Yankees who can't come up with their mortgage.
