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Old 09-14-2008, 12:44 PM
 
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Middle class buying U.S. homes: Mexicans fleeing a gruesome drug war in Ciudad Juarez are buying homes across the border in El Paso, helping keep the Texas city's property market afloat despite the worst U.S. housing crisis in decades, Reuters reported. With clashes between rival drug gangs leaving dead bodies on the streets of the Mexican border city of Ciudad Juarez almost daily, hundreds of middle-class Mexicans are moving to El Paso, just across the Rio Grande.


The week in Mexico | The San Diego Union-Tribune

Well folks get ready for the sunami. If mexico's middle class is moving here, WTH do you think will be the end result of it's collapse?
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Old 09-14-2008, 12:49 PM
 
Location: Mesa, Az
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Originally Posted by JDubsMom View Post
Middle class buying U.S. homes: Mexicans fleeing a gruesome drug war in Ciudad Juarez are buying homes across the border in El Paso, helping keep the Texas city's property market afloat despite the worst U.S. housing crisis in decades, Reuters reported. With clashes between rival drug gangs leaving dead bodies on the streets of the Mexican border city of Ciudad Juarez almost daily, hundreds of middle-class Mexicans are moving to El Paso, just across the Rio Grande.


The week in Mexico | The San Diego Union-Tribune

Well folks get ready for the sunami. If mexico's middle class is moving here, WTH do you think will be the end result of it's collapse?
Frankly; the Mexican Middle Class I am not that concerned about----------their kind (like Middle Class people anywhere) tend to assimilate quite nicely into First World societies up to and including embracing the cultural mores of the latter.
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Old 09-14-2008, 12:58 PM
 
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Originally Posted by ArizonaBear View Post
Frankly; the Mexican Middle Class I am not that concerned about----------their kind (like Middle Class people anywhere) tend to assimilate quite nicely into First World societies up to and including embracing the cultural mores of the latter.
I have no doubt that they will assimilate, but that's the least of my worries.

My thoughts are focused on the fact that the middle class has been the difference between financially sustanance and saving Mexico from total economic and social collapse. Additionally, if there is nothing left but the totally impoverished they will feel they have no choice but to complete the invasion.

Even the drug cartels are infiltrating the US. Keep in mind our borders are wide open.
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Old 09-14-2008, 02:39 PM
 
Location: Oxygen Ln. AZ
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Originally Posted by ArizonaBear View Post
Frankly; the Mexican Middle Class I am not that concerned about----------their kind (like Middle Class people anywhere) tend to assimilate quite nicely into First World societies up to and including embracing the cultural mores of the latter.
I agree. Most of the ones buying the homes are small business owners fleeing the chaos across the border. The thing I am concerned with, is that they do the right thing and go through the proper steps first.
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Old 09-14-2008, 02:53 PM
 
Location: Southern Arizona
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Originally Posted by JDubsMom View Post
Well folks get ready for the sunami. If mexico's middle class is moving here, WTH do you think will be the end result of it's collapse?
One question, JDubsMom . . . are these Middle Class Mexicans buying these homes with their own money or doing the 100% financing gimmick with U.S. Lending Institutions?

Remember, in many cases, a very high percentage of the failed loans were held by Illegals who had absolutely nothing to lose when the value of their home plummeted . . . so they merely WALKED.

Also, how do we know these Middle Class Mexicans are not using the profits from their flourishing Drug Businesses back home?
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Old 09-14-2008, 03:02 PM
 
Location: North Carolina
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Exactly, from what I know of Mexico there aren't that many "middle class" citizens. The majority of the people are either very poor or rather rich. I would bet money of my own that the majority of these people buying up property are doing so with money gained from less than legal business dealings. I mean, you have to think it takes a lot of pesos to equal a dollar, so these people dropping big cash on homes and other purchases must have really been doing well in Mexico. Maybe they are moving away from the front lines so they can live peacefully while their henchmen carry on with their business. Or, maybe they are all on the up and up and we are severely misled on the subject of Mexico. But for some reason, I seriously doubt the second choice.
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Old 09-14-2008, 06:42 PM
 
Location: S.Florida
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Many if not close to all of the rich in Mexico have some type private armed security even Mexican stars are moving to S.Florida and filming from here.

The Middle class can't afford private security or tired of living like this they are leaving in numbers.
Many here as they find it to dangerous to corrupt and just tired of fear of being kidnapped by local police while Calderon looks the other way.

They come as legal residents imagine same by borders. They hope to return when things get better but not holding their breath.
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Old 09-14-2008, 06:48 PM
 
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Originally Posted by Bummer View Post
One question, JDubsMom . . . are these Middle Class Mexicans buying these homes with their own money or doing the 100% financing gimmick with U.S. Lending Institutions?

Remember, in many cases, a very high percentage of the failed loans were held by Illegals who had absolutely nothing to lose when the value of their home plummeted . . . so they merely WALKED.

Also, how do we know these Middle Class Mexicans are not using the profits from their flourishing Drug Businesses back home?

Excellent points and analogies. I would like to think that with the state of collapse of Freddie, Fannie (and 11 other financial instutions and counting . .) resulting in billions of our tax dollars being sucked out of our pockets to prop them up, getting a loan (particularly as a foreigner) should be impossible. Especially without proper identification.

Then there's the drug cartels, with plenty of cash who may indeed have what appears to be middle class mexicans making purchases on their behalf. Time will tell.

Great post! Rep points coming your way!
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Old 09-14-2008, 06:51 PM
 
Location: California
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Originally Posted by Reads2MUCH View Post
Exactly, from what I know of Mexico there aren't that many "middle class" citizens. The majority of the people are either very poor or rather rich. I would bet money of my own that the majority of these people buying up property are doing so with money gained from less than legal business dealings. I mean, you have to think it takes a lot of pesos to equal a dollar, so these people dropping big cash on homes and other purchases must have really been doing well in Mexico. Maybe they are moving away from the front lines so they can live peacefully while their henchmen carry on with their business. Or, maybe they are all on the up and up and we are severely misled on the subject of Mexico. But for some reason, I seriously doubt the second choice.




There is a growing middle class in Mexico. Not every Mexican is affiliated with drug dealing.
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Old 09-14-2008, 06:52 PM
 
Location: S.Florida
3,325 posts, read 4,696,340 times
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Quote:
Originally Posted by Reads2MUCH View Post
Exactly, from what I know of Mexico there aren't that many "middle class" citizens. The majority of the people are either very poor or rather rich. I would bet money of my own that the majority of these people buying up property are doing so with money gained from less than legal business dealings. I mean, you have to think it takes a lot of pesos to equal a dollar, so these people dropping big cash on homes and other purchases must have really been doing well in Mexico. Maybe they are moving away from the front lines so they can live peacefully while their henchmen carry on with their business. Or, maybe they are all on the up and up and we are severely misled on the subject of Mexico. But for some reason, I seriously doubt the second choice.
-------------

You have Middle class there. You never hear of them as they stay there granted poor is the largest number same as every Latin American country .

Mexico has had middle class flight but in tiny numbers now its a growing number .
They are doctors-teachers-nurses,engineers , honest police-(who are working class not Middle) are fleeing.

It is their hard earned money buying-renting here not drug money.
Drug money buys houses in S.Florida that are something from a picture book .
Not a small house like mine lol and keep in mind real estate now esp in border towns is cheap .
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