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Old 01-20-2008, 05:00 PM
 
Location: Mesa, Az
21,148 posts, read 36,633,862 times
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Long thrashed by swings in the U.S. economy, Mexico now boasts a thriving housing sector whose record growth leads Latin America a sign of increased economic stability and an outlet for investors looking to escape the U.S. downturn.
Yahoo News article (broken link)

Interesting; maybe Mexico is starting to take responsibility for itself finally.
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Old 01-20-2008, 05:07 PM
 
Location: Fort Worth, Texas
10,716 posts, read 31,045,476 times
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I have also read that as an American if you go to Mexico to purchase property, you are not allowed to own it directly, its owned by some government set up trust.

I wouldn't give you 5 pesos for property in Mexico.
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Old 01-20-2008, 05:10 PM
 
4,834 posts, read 5,442,752 times
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Quote:
Originally Posted by Lindsey_Mcfarren View Post
I have also read that as an American if you go to Mexico to purchase property, you are not allowed to own it directly, its owned by some government set up trust.

I wouldn't give you 5 pesos for property in Mexico.
Maybe this is good news, I am unsure, but if it creates an atmosphere where the illegals all return to Mexico it will give us time to secure our borders so they can't pull an encore performance! I wouldn't give one peso for anything in/from Mexico.
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Old 01-20-2008, 05:46 PM
 
8,973 posts, read 14,619,457 times
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Quote:
Originally Posted by Lindsey_Mcfarren View Post
I have also read that as an American if you go to Mexico to purchase property, you are not allowed to own it directly, its owned by some government set up trust.

I wouldn't give you 5 pesos for property in Mexico.
Don't know the exact state of the law just now, but traditionally, foreigners couldn't purchase land on their own in Mexico--they needed a Mexican business partner. This actually discouraged the country's development a great deal.

After "losing" California, Texas, and other areas, the Mexican government became extremely paranoid about 'selling' to foreigners...apparently too paranoid for their own best interests.

I knew a couple of illegals who COULD have been naturalized years before, but elected remain Mexican citizens, in order to hold on to land they owned there. (Nowadays, I suppose they could just become 'dual citizens')
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Old 01-20-2008, 05:57 PM
 
1,448 posts, read 2,659,633 times
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Quote:
President Felipe Calderon has set a national goal of a million new mortgages a year by 2010. On Monday, he unveils a set of measures to ensure growth continues, with plans to boost Mexico's small resale market and combat the urban sprawl that has begun to carpet valleys with hundreds of thousands of matchbox rowhomes.

Behind the boom are six years of economic growth and stability, and a national shortage of 6 million dwellings. While interest rates are falling, just 6 percent of Mexico's 25.7 million homes are financed with mortgages compared to about 67 percent in the U.S. Most Mexicans still inherit their homes, buy them with cash, or build them by hand
Sounds like Calderon has been reading economist Hernando De Soto's book

Amazon.com: The Mystery of Capital: Why Capitalism Triumphs in the West and Fails Everywhere Else: Books: Hernando De Soto
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Old 01-21-2008, 09:40 PM
 
1,156 posts, read 1,875,667 times
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House soar in Mexico in part is using their Country's second largest income, which is all the money illegals send back home to Mexico. Americans have paid dearly for this, too.

Americans used to own property in Mexico, but that ended several years ago. All the house owners of many years on the beach in Baja lost their homes to the Mexican gov. due to the claim of it being Indian land.

Last edited by faith10; 01-21-2008 at 10:06 PM..
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Old 01-21-2008, 10:15 PM
 
Location: Southern Arizona
9,309 posts, read 25,674,204 times
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Quote:
Originally Posted by Lindsey_Mcfarren View Post
I have also read that as an American if you go to Mexico to purchase property, you are not allowed to own it directly, its owned by some government set up trust.

I wouldn't give you 5 pesos for property in Mexico.
You are way too generous, Lindsey. ! ! ! !
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Old 01-22-2008, 07:38 AM
 
Location: San Diego North County
4,800 posts, read 7,691,681 times
Reputation: 3010
It's a crying shame that it will take an American economic "downturn" (I prefer to call a pig a pig--it's a recession) in order for Mexico to begin any sort of economic reform. Guess they're getting ready for their influx of Mexican nationals driven out of this country by immigration enforcement and the lack of available jobs.
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Old 01-22-2008, 08:53 AM
 
436 posts, read 576,585 times
Reputation: 133
Whether they need them or not, we should still send them back. Let them worry about them.
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