Coalition encourages Americans to live in Mexico
Coalition encourages Americans to live in Mexico
By Jenalia Moreno
jenalia.moreno@chron.com
Updated 07:49 p.m., Monday, March 28, 2011
HOUSTON — Selling Americans retirement and vacation homes in Mexico has become a challenge. The slowdown in the global economy, Mexico's highly publicized drug violence and the swine flu outbreak, among other problems, have kept many Americans from buying property south of the border.
Those promoting the market recently launched the Mexico Real Estate Coalition to reassure investors that it's safe to buy houses in Mexico. Houstonian Chris Hill, a founder of the coalition and CEO of Houston-based Stewart Title Latin America, discussed the Mexican market in an interview with the Houston Chronicle. Edited excerpts:
Question: How many Americans live in Mexico?
Answer: There are several hundred thousand Americans retired and living either full or part time in Mexico. No one has that specific number. It's very fluid. Anyone that goes to Cabo or Puerto Vallarta, or the Riviera Maya or San Miguel, Northern Baja — just walking in the streets, going into the restaurants, you can see a very established presence of North American residents. Canadians are typically 10 percent to 20 percent of that. Since the economic crisis in the U.S., the Canadian percentage has increased.
Q: Are Americans in Mexico moving back to the U.S. because of the violence there?
A: No. That's the great contradiction with what the U.S. media are representing and the hundreds of thousands of Americans who have stayed put. There are a few isolated areas in Mexico that are going through some significant problems right now. Mexico is a massive country. Otherwise, the Americans and the Canadians who live throughout Mexico would have left. Most of them still have residences back here in the U.S. There has been no exodus.
Q: How much have sales to Americans dropped in the last three years?
A: We've gone through the perfect storm. Depending on the market, sales have dropped 50 percent to 70 percent. It has been devastating. In the last three years, there was an earthquake in Mexico, this so-called drug war. We're looking at the next 10 to 15 years. The baby boomers are going to be retiring in record numbers. There is a segment that wants to look outside the U.S. We think that Mexico is going to be a great option for hundreds of thousands of Americans.
Q: Where are they going instead of Mexico?
A: They are not going outside of the U.S. right now. Our markets in Panama, Costa Rica and the Dominican Republic, they are all equally down. What that tells us is the drug war news is probably hurting Mexico, but what's hurting Mexico more is the continued sluggishness of the U.S. economy.
Q: Can you still get a loan to buy a home in Mexico?
A: To get a loan in Mexico, the terms are even better than they were three or four years ago. BBVA Compass has a tremendous product. The terms are almost like a U.S. interest rate. Scotiabank has a loan product as well.
Q: What are the differences in the cost of living between Houston and cities like San Miguel de Allende or Cabo San Lucas?
A: Depending on your lifestyle, 30 percent to 40 percent lower cost of living on average.
Q: What is the Mexico Real Estate Coalition?
A: This is the first time a national organization has come together to promote retirement and resort living or second-home living in Mexico. We're going to have to overcome some of these image problems that Mexico has, which is very unfortunate. These issues will be resolved sooner or later. We want Mexico to be in position as an option for Americans and Canadians. The U.S. economy is going to need some time to recover. In the meantime, we're getting our tools in place. We have a public relations program in place. We have a website that will leverage testimonials of Americans and Canadians living in Mexico. We think their stories are far and away our greatest asset. We have a budget of less than $500,000.
http://www.mysanantonio.com/business/ar ... 311618.php
Re: Coalition encourages Americans to live in Mexico
Quote:
Originally Posted by JohnDoe2
Coalition encourages Americans to live in Mexico
A FOOL IS BORN EVERY SECOND
San Miguel de Allende, oh, the city close to San Luis Potosi where the two ICE agents were murdered.
Puerto Vallarta you say????
Grenade In Puerto Vallarta Bar An 'Accident': Mexican Governor
http://www.npr.org/blogs/thetwo-way/201 ... n-governor
Riviera Maya? Outside of Cancun? Are you kidding?
Cancun bar attack is more bad news for Mexico tourism
http://travel.usatoday.com/destinations ... y/110694/1
Northern Baja? Are you LOCO??
Mexico Crime Wave Has Tourists On Edge
Recent Violence On Mexico's Baja California Peninsula Is Driving Visitors Away
http://www.cbsnews.com/stories/2008/01/ ... 1221.shtml
Mexico can lie and pretend this drug war doesn't exist but Mexico can't hide from this:
SEMAR statement issued by shootings reported in Veracruz, reported five wounded sailors
http://1.bp.blogspot.com/-1KB1S2QJGp...400/vera13.JPG
Shooting in Monterrey: two dead and three wounded
http://2.bp.blogspot.com/-Dt24D5msyw...0/estrella.JPG
Are executed and burned two in San Luis Potosi
http://2.bp.blogspot.com/-0NNYh6_6fa...dossanluis.jpg
NICE PLACE TO RETIRE, HUH????
