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Interesting article. That very loud sucking sound is American jobs and capital heading south of the border.
Basically Mexico's housing industry is booming because illegal aliens are shipping about 20 billion dollars a year out our country and into Mexico. To make matters worse giant American investors like the California Public Employees Retirement System, which is the largest US public pension fund, has already invested more than $300 million in Mexican real estate funds. Money that should have been invested in America.
Sometimes I really have to wonder how our politicians can just sit by and let this stuff happen.
CalPERS invests in lots of countries, as do other countries invest in us. They have a very stringent analysis they go through before any investment (I've actually participated in that process) to determine likely return on investment and risk.
CalPERS Adopts Permissible Market List for International Real Estate Investments. | Trade & Development > Economic Development from AllBusiness.com (http://www.allbusiness.com/trade-development/economic-development/5781843-1.html - broken link)
Interesting article. That very loud sucking sound is American jobs and capital heading south of the border.
Basically Mexico's housing industry is booming because illegal aliens are shipping about 20 billion dollars a year out our country and into Mexico. To make matters worse giant American investors like the California Public Employees Retirement System, which is the largest US public pension fund, has already invested more than $300 million in Mexican real estate funds. Money that should have been invested in America.
Sometimes I really have to wonder how our politicians can just sit by and let this stuff happen.
Who are we to say where money is invested? Who is anyone to say where money should be invested? It would seem awful socialist to say "Americans, invest in the United States only, not where else. That would ruin our free-trade policy. You think all the money illegals make is going to Mexico? NO! They have to buy food, they have to buy cars, they have to rent/buy housing, they have to buy gas, clothes entertainment e.t.c
Who are we to say where money is invested? Who is anyone to say where money should be invested? It would seem awful socialist to say "Americans, invest in the United States only, not where else. That would ruin our free-trade policy. You think all the money illegals make is going to Mexico? NO! They have to buy food, they have to buy cars, they have to rent/buy housing, they have to buy gas, clothes entertainment e.t.c
BUT........."THEY" ARE HERE ILLEGALLY...........IF they ARE ILLEGALS!
So.......THEY should NOT be able to RENT anywhere in the US......IF they ARE here ILLEGALLY!
Sad that they do......often 10 in a one bedroom apartment?!
Now......for ALL the ones who are here on a work VISA........fine!
Yep.....they do NEED to buy, rent and ????
They DO contribute to consumer spending AND a HOST of "other" things that the government NEEDS to cover while here......but THEY do SEND a HUGE amount of money BACK......South of the Border to help their families who still live down there......along with the ones here and working here ILLEGALLY.........it ADDS UP to a boatload of cash!!!!
But hey........nobody has the right to tell you or force WHERE and WHAT you invest your money in.......despite that loud "sucking" noise of cash flowing out of America.
Besides.......the biggest reason Mexico's Real Estate market is doing just fine........is because America's is NOT......and many people who CAN afford to buy........are able to and doing so......in a big way.......OUTSIDE of the US and especially WHERE they are able to get a LOT more for their money!
All part of the "Globalization of the Real Estate Market" and a GREAT time to be a RE Agent IN Mexico!
BUT........."THEY" ARE HERE ILLEGALLY...........IF they ARE ILLEGALS!
So.......THEY should NOT be able to RENT anywhere in the US......IF they ARE here ILLEGALLY!
Sad that they do......often 10 in a one bedroom apartment?!
Now......for ALL the ones who are here on a work VISA........fine!
Yep.....they do NEED to buy, rent and ????
They DO contribute to consumer spending AND a HOST of "other" things that the government NEEDS to cover while here......but THEY do SEND a HUGE amount of money BACK......South of the Border to help their families who still live down there......along with the ones here and working here ILLEGALLY.........it ADDS UP to a boatload of cash!!!!
But hey........nobody has the right to tell you or force WHERE and WHAT you invest your money in.......despite that loud "sucking" noise of cash flowing out of America.
Besides.......the biggest reason Mexico's Real Estate market is doing just fine........is because America's is NOT......and many people who CAN afford to buy........are able to and doing so......in a big way.......OUTSIDE of the US and especially WHERE they are able to get a LOT more for their money!
All part of the "Globalization of the Real Estate Market" and a GREAT time to be a RE Agent IN Mexico!
I believe Mexico's real estate has remained stagnant over the years. The reason our housing market is so bad is because people never took the time to sit down and think "This is how much money I make, these are my expenses. I can afford a $400,000 home." Then they go off and buy a $600,000 and buy it at 0% down. I blame these stupid Americans.
Even the legal ones and the ones with Visas, they still cram 10 people in an Apartment. They're actually making more money than the landlord. LOL!!
Who are we to say where money is invested? Who is anyone to say where money should be invested? It would seem awful socialist to say "Americans, invest in the United States only, not where else. That would ruin our free-trade policy. You think all the money illegals make is going to Mexico? NO! They have to buy food, they have to buy cars, they have to rent/buy housing, they have to buy gas, clothes entertainment e.t.c
how do you entertain an illegal?... lol, I say we dangle them out a ten story bldg, let Hillary clean up the mess... free of charge
Nothing new to me. I have an uncle who moved down to Mexico and is currently setting up food-distrubtion warehouses/businesses in/around Mexico's U.S. tourist destinations. Basically priming up areas for the economic upswing they are experiencing. They are still a long way off to be compared to the U.S. though.
So, in a since, i get to hear about things of that nature in Mexico.
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