I know quite a few people who want to buy in Mexico.
If they didn’t drive up values, then couldn’t you buy even more homes?
If prices don’t go up much then why bother buying here?
Nope, it was fun on the cruise but the bottom line is, it is not safe there. That is all one needs to know.
Well they still like Mexico despite all that, what do you want me to say
Which Mexican city is worth investment? I’ve been Cacun, not sure if it could be a good invrstment
Well the two people that I knew (one of them is a realtor) were looking at Los Cabos/Puerto Vallarta and some other place…can’t remember as I wouldn’t invest in Mexico personally so didn’t pay much attention.
I’ve been to both Cabos and PV, both tourist towns. I think El Chappo’s son was kidnapped at PV not too long ago. Cabos is closer to US and seems to be safer.
Safety is #1. Mexico honestly does not offer that, plain and simple. Sure, go there for a short resort visit and you will be probably safe. But to live there and stand out as an American ex pat, uh, no thanks. The government is simply losing the battle against the drug cartels. Violence has reached the resort areas/towns even, so you know it is out of control. Go to safe Hawaii and have a blast…
I have stayed in the hotel, La Krystal, where that resturant is, La Leche where they were kidnapped. .It will become part of the rustic charm lore of Mexico…Tourists don’t seem to worry…They really have no idea how corrupt and dangerous Mexico is …ignorance is bliss…
Lets face it Hawaii is pretty…as in pretty boring…People that go to Mexico like the roughess, charm and yes the risks…Mexico is exotic and exciting…Hawaii feels like Kansas but with nice beaches and good weather…
That said real estate prices are still going up in Mexico.
http://www.globalpropertyguide.com/Latin-America/Mexico/Price-History
From a local PV blogger…They are very sensitive to claims of crime…Obviously because they think it will keep tourists away…Hasn’t happened though
Homicide Rates in other countries
My friend Charlie sent me these stats that he collected from Wikipedia. These are the annual homicide rates per 100,000 population for a few countries. What I found intriguing is how high Jamaica, another favorite vacation spot, is compared to Mexico; four times as high. When was the last time we saw anything in the news about Jamaica’s high homicide rate? I guess the homicide is more sensational in Mexico. A lot of Mexico’s homicide is drug related and that which is drug related is the cartel fighting against themselves or the police/army. The numbers involving Americans or Canadians, unless they were involved with the drug business, is virtually nothing. But from listening to mainstream media you’d think we were getting knocked off regularly. My rant for the day.
El Salvador: 71
Jamaica: 60
Venezuela: 48
Colombia: 39
Brazil: 22
Mexico: 15
Costa Rica: 11
U.S.A.: 5
Canada: 2
Time to buy in Canada…
US state department warning.
https://travel.state.gov/content/passports/en/alertswarnings/mexico-travel-warning.html
Granted I was there via a cruise, so day long trips to various ports but my takeaway was not oh wow we need to buy here. I mean, there is rampant poverty and then pockets of excess wealth. Sure, if you had the money, you can build some fortress of solitude up on some mountain and yeah you should be safe. But you always have to come down at some point…Hawaii is not boring at all. We go pretty much regularly every other year or so. @Elt1, you didn’t work your butt off to this point by going to some unsafe country. Am I right?
Well the US is not the safest place …In fact my wife and I were harassed by homeless people in Kona…In fact I find Kona one of the least most welcoming places I have ever been…Which is sad since we can stay there free…Our wealthy friends have a 3 acre place there. …Kona has the same third world issues as Mexico…Lots of poor people. .The difference they really don’t like tourists…
You’d probably have much better cash flow.
May be not just the Chinese buyers. Amazon could be a significant factor based on the snippet below.
The Seattle housing market has benefited enormously from the region’s largest employer, Amazon. While there was concern earlier this year that a local “head tax” on employers would cause a hiring slowdown, that tax was quickly repealed after enormous pressure from Amazon.
The e-commerce giant, however, did report its first decline in its number of employees since 2009.
After strong hiring throughout the first half of 2017, job postings for open positions at Amazon headquarters dropped sharply last December, according to a report from The Seattle Times.
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Article didn’t provide any statistics how many mainland Chinese are buying in Seattle, last year vs this year. It’s just one broker’s anecdote and even he didn’t even give a percentage guesstimate.
I call BS.
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The slowdown is nationwide. See my other thread: