Very interesting article, many paragraphs state what many of us already here know....
The U.S. media – over the last year – has portrayed Mexico as being on the brink of economic collapse and civil war. The Mexican people are either
beheaded, kidnapped, poor, corrupt, or narco-traffickers. The American news media was particularly aggressive in the weeks leading up to spring
break. The main reason for this is money............
Violence in Mexico is over 95% confined to the three transshipping cities for these two businesses, Tijuana, Nogales, and Juarez......
What is just getting underway is what many are calling the “Largest southern migration to Mexico of people and real estate assets since the Civil War”CortezBlue - 5-31-2010 at 03:49 PM
A great article, however, if you read carefully the author is quite biased. I agree with many of the things he has to say, however, I am also biased.
But interesting reading non the less.k-rico - 5-31-2010 at 04:03 PM
Quote:
Originally posted by CortezBlue
A great article, however, if you read carefully the author is quite biased. I agree with many of the things he has to say, however, I am also biased.
But interesting reading non the less.
Did you see his email address? mexinvestnow@gmail.com
The truth is somewhere between his viewpoint and Nancy Conroy's. Closer to his I think.
I found this to be the most significant info (if true):
"Mexico is currently sitting on a cash surplus and an almost balanced budget.
According to oil traders, Mexico’s Pemex wisely as the price of oil shot to $147 a barrel put in place an investment strategy that hinged on oil
trading in the range of $38-$60 a barrel. Since the beginning of 2009 Mexico has been collecting revenues on hedged positions that give them $90-$110
per barrel today. Mexico’s recent and under reported oil discovery in the Palaeo Channels of Chicontepec has placed it third in the world for oil
reserves, right behind Canada and Saudi Arabia."wessongroup - 5-31-2010 at 04:06 PM
k-rico.... guess you didn't hear... their find has been found to be "linked" to Deep Horizon...k-rico - 5-31-2010 at 04:23 PM
Quote:
Originally posted by wessongroup
k-rico.... guess you didn't hear... their find has been found to be "linked" to Deep Horizon...
How so?
I just did a google search about this oil field and most of the hits linked to websites hawking Mexican real estate to gringos.
I did find this and it paints a different picture:
[Edited on 6-1-2010 by wessongroup]irenemm - 5-31-2010 at 04:41 PM
Excellent article.
The truth finally in print. Now it just needs to circulate.wessongroup - 5-31-2010 at 05:20 PM
An interesting and truly different view of what is going on and what will happen..
As for spring break being an indicator of anything other than a bunch of young folks wanting to cut loose... it may have been some place else... was
dead, dead dead.. in Rosarito.. and T.J this year
Don't see it that way on the boomers. either .... these baby boomers.. just lost their jobs, the homes.. their 401K's.. and pensions in many cases..
in just one example GM laid off 65,000 individuals... they lost all, no pensions, no retirement.. and if you check what is happening in Flint Michigan
... they are in just terrible shape.. you couldn't sell a home there if your life depended on it.. as it is in most American cities right now.. and
there are another 11 million homes that are going to be foreclosed on.... that means those folks will not have any money... period.. they can't come
to Mexico and buy a $200,000 or $600,000 dollar home..
And I have been watching real estate over on the Mainland for a while.. the market is full of homes offered for sale... much like what we are seeing
here in El Pescador, Rosarito, and Ensenada, and BCS..
I'm not trying to be a wet blank, but just don't see Mexico as a "power house" that can sustain it's self, with the incoming return to their Country,
of around 10,000,000 folks who are going to be coming back one way or the other... lost work or caught in the States and deported... as the "services"
which are going to be required for American citizen will only become greater putting even greater pressure on the northern States of Mexico to deal
with the influx..
Jesse, the guy who is doing work on the Ford is from Micochan, and has relatives in Sonora also... said that the State of Sonora is in just terrible
shape at the moment... with all the people coming back from the United Stated from AZ.. would expect something similar in TX, NM maybe even
California.. as the budget short falls which are approaching will not be resolved, as no one has jobs for payroll taxes, sales taxes, property taxes
(lost homes to banks) new car sales, and many other sources of revenue derived through a working economy... they still aren't planting in Fresno
County West side due to water shortages.. which are not improving...
If one believes that this will all be corrected through creative finance again... well, maybe .... maybe not.... but, when I look at the yield on
Treasuries and they continue to drop... it mean just one thing... People from all over the world are putting their money into Treasury's ..... it is
zero risk..
If Mexico was the sound investment vehicle as outlined in the article... then the Chinese would not have Trillion in US Treasury's... but, rather in
Mexico's investment instruments.. available to them.. but, they do not...
Still see Mexico, for me personally as a place that works for me and mine at this time........ but, do not feel they will be savior for the poor of
the United States... and the Baby Boomers will be, within the next few months not better off but, much worse off...
Just my take on a number of factors related to "value" of things ..
Hope it all works out for all.... can't say one can approve of the way business is conducted in the United States... but, that is the way it's done..
and one must to have an LLC, and your assests in a Trust.. if you don't then the big guys will eat you alive, every time..
For Mexico, it has always been a bit cheaper than the United States to live.. and for a number of factors...
For me, I'm going to started eating some nacho's that ML is fixing up... boy, oh boy.. what a treat... life is good.. even if the world is going to
hell in a hand basket..
[Edited by request on 6-1-2010 by wessongroup]
[Edited on 6-1-2010 by wessongroup]
[Edited on 6-1-2010 by BajaNomad]bacquito - 6-10-2010 at 10:10 AM
I hope the article is true about a bright future for Mexico but Wessongroup
is correct about Ensenada-there are alot of homes for sale and the signs have been up for some time and the tourist business appears to be down.
