BajaNomad

Crime and extortion in Rosarito

tigerdog - 8-20-2007 at 11:19 AM

This is from the current issue of Gringo Gazette North:
Quote:
The Real Estate business in the Tijuana-Rosarito area is losing around $1.5 million dollars a day due to crime and police extortion, which discourage potential buyers. The president of the Tijuana Real Estate Brokers explained that extortion complaints have risen 20% compared to last year, and that sales have dropped an astonishing 60% compared to this same period in 2006 and 2005. He recalls cases in which clients have been stopped by police, and if they have no money cops will escort them to an ATM and wait for them to withdraw mo-ney. He has met with authorities countless times, but still sees no positive outcome.

Meanwhile Real Estate related job generation and infra-structure investment have taken a big dip.


That's not a pretty picture. I knew real estate sales were down, but not by that much. How much of that is due to the crime issue and how much to the bubble bursting in SoCal? That's what I'd like to know.

Anyone know how the real estate market is doing in the rest of Baja and Baja Sur?

bajabound2005 - 8-20-2007 at 08:24 PM

I saw this article a few days ago. I really think the Rosarito represents the WORST of Baja in all ways....including the real estate development going on there. Are there really that many people who want to live in a HI RISE condo development? Where is the actual "living" part. It's like being in a hotel!!!

DianaT - 8-20-2007 at 08:45 PM

Quote:
Originally posted by bajabound2005
I saw this article a few days ago. I really think the Rosarito represents the WORST of Baja in all ways....including the real estate development going on there. Are there really that many people who want to live in a HI RISE condo development? Where is the actual "living" part. It's like being in a hotel!!!


Those high rise places look like beehives---wonder where the queen lives. Can't imagine living in one.

Diane

CaboRon - 8-21-2007 at 07:04 AM

If they don't leave the condo...they can pretend they are still
in Newport Beach .

What floor do you need to be on in order to be above the smell?

I guess too high and you will receive th smoke from the Pemax reflinary.

- CaboRon