Are Mexicans Buying Back Texas?

With a growing Mexican economy and a housing slump in Texas, some are concerned Mexican developers and investors are buying back Texas -- one home at a time.

Wednesday, July 9, 2008
By Scott Crowder

KTRH - Houston
Is that concern just paranoia? Eugenia Morales is a Mexican national who married an American and sells real estate in McAllen. "I see a lot of Mexican nationals coming here with $150,000 cash value property and you wonder, right, 'oh my gosh, they come from Mexico and they have all this money!'"

But Morales says they're not drug dealers, they've just made a lot of money in agribusiness. She says it's silly to worry about a Mexican takeover, because it's just good business.

Could Mexicans "buy back Texas" and demand the land return to Mexico? Some of the buyers have reportedly made remarks like that. But University of Houston Assistant Professor Raul Ramos doesn't see anything sinister. "I think it's a gimmick, is what it sounds like. If they are indeed using that language they're probably using it as a way to get attention."

Professor Ramos points out there's much more American and European ownership of Mexican land.

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