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BajaNuts
Super Nomad
Posts: 1085
Registered: 5-11-2008
Location: eastern WA, the DRY side
Member Is Offline
Mood: no worry, no hurry....it's all good!
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How are US economics influencing Nomads?
I'm just wondering if today's economic "crises", Wall Street drops and the whole FreddieMac/Fannie/Mae thing have had any personal effect or impact on
Nomads, wherever you may be.
Our mortgage lender just got bought out (in other words, they were going under) and we thought we had one of the better financial institutions in our
region.
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Diver
Ultra Nomad
Posts: 4729
Registered: 11-15-2004
Member Is Offline
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We're also on the dry side of the Cascades; west of you, near The Dalles.
Part of my business comes from the housing industry - business is down.
This will most likely affect the amount of time and money we are able to spend in Baja this winter.
I would guess that many are in the same boat these days.
Looks like another poor tourist season ahead in Baja.
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BajaNuts
Super Nomad
Posts: 1085
Registered: 5-11-2008
Location: eastern WA, the DRY side
Member Is Offline
Mood: no worry, no hurry....it's all good!
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We are in the construction industry (as subcontactors on custom homes) and so far this year we know of 5 projects that have been cancelled or put on
hold.
So what does a poor tourist season mean for Baja? aside from the obvious loss of revenue to the hospitality industry, how far down does it trickle?
And does the US economy really affect Baja economy that much? I mean, people from other countries travel and buy property on the Baja peninsula just
like Americans do.
I'm just wondering what the "feeling on the Nomad street" is regarding the personal impact of what's happening with the US economy. Is it for real,
or is it all media hype?
I'm more interested in first hand replies than links to political sites or political rhetoric. Are you personally worried about US economics and how
has it directly affected you/your finances?
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Bajaboy
Ultra Nomad
Posts: 4375
Registered: 10-9-2003
Location: Bahia Asuncion, BCS, Mexico
Member Is Offline
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We're doing okay...my wife is an English/Social Studies teacher and I'm a math teacher. We have a fixed mortgage so no worries there and live within
our means. While others around us were buying up a storm on credit during the "housing" boom, we were paying down our bills.
We're both currently on maternity leave and plan to spend about a month at our place in Bahia Asuncion in November. We're looking forward to the
empty highways.
Zac
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Bajabus
Senior Nomad
Posts: 892
Registered: 8-30-2002
Location: Elias Calles B.C.S. or NC USA
Member Is Offline
Mood: My friends..it's good.
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I personally am not too worried. We have been seeing a distinct rise in disaster recovery and WAN back up via a VSAT solution in the last year or so.
All these contracts are 2-4 year contracts, many with govt agencies the rest with fairly big fortune 500 industries. Also seeing a lot of orders by
oil companies wanting instant satellite communications at remote well sites that do not rely on land infrastructure. Just did a nice 8 site pilot
contract with BNE in Belize.
The other emerging trend we are seeing is more inquiries from large companies to provide remote connectivity for telecommuters in rural areas via
satellite.
The consumer level VSAT data connectivity market IE INTERNET via satellite for consumers does seem almost flat. Churn in that market is hanging at
about 2-3% which is where it has been for the past 3-5 years.
It is fairly easy for me to still run our business from Baja. Having a new born crimped us coming down but now that he is 2 years old we hope to get
back to regular visits. Been down since Sept 18th and heading back to the states Oct 7th. It's a trial run to see how it is with the new addition
and it seeming to go well. The heat, humidity and insects are the biggest problems right now in Elias Calles
"Preventive war was an invention of Hitler. Frankly I would not even listen to anyone seriously that came and talked of such a thing."
Dwight David Eisenhower
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2-tie-dye-4
Nomad
Posts: 145
Registered: 9-25-2008
Location: Jerome, AZ population, strange
Member Is Offline
Mood: jonesin' for Baja
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I am a bartender in a tourist town, and I can see the drop in tourism, the bars and restaurants are still doing ok, but the other merchants are
suffering. A lot of shops are having to close. I'm seeing a lot more European tourists, I think because their dollar is worth more in the States so
it offsets the plane ticket.
We\'re all here cuz we\'re not all there, mountain stranded time
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2-tie-dye-4
Nomad
Posts: 145
Registered: 9-25-2008
Location: Jerome, AZ population, strange
Member Is Offline
Mood: jonesin' for Baja
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Hey kids,
Forgive the off topic, but can anyone tell me if it's possible to put pictures back on a card? I downloaded my Baja pics to my hard drive and then
deleted the card, using a card reader device in my USB. I wonder if I can put them back on the card????
We\'re all here cuz we\'re not all there, mountain stranded time
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Skipjack Joe
Elite Nomad
Posts: 8084
Registered: 7-12-2004
Location: Bahia Asuncion
Member Is Offline
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I had been working for a software company that facilitated mortgage loans by lenders. Our biggest client had been American Home Lender in San Diego.
Last spring they unexpectedly (by us) went belly up. Our staff was reduced from 14 to about 4.
So then I moved on to our new and still bigger client, Bear Stearns. We all felt so secure. Bear was just too big. We were safe. Then it happened. In
late November we were summoned into the office one by one and told we had 2 weeks left. It had taken management by surprise as well.
So I left Irvine and now work for Salesforce.com. Their revenue is incredible. I miss the old company though.
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Shark18
Banned
Posts: 79
Registered: 5-4-2007
Member Is Offline
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| Quote: | Originally posted by 2-tie-dye-4
Hey kids,
Forgive the off topic, but can anyone tell me if it's possible to put pictures back on a card? I downloaded my Baja pics to my hard drive and then
deleted the card, using a card reader device in my USB. I wonder if I can put them back on the card???? |
Yes, plug the card back into the USB and open up windows Explorer (assuming you have a PC). The card will show up as another hard drive with a letter
like H:, I:, J:, etc. Find your pictures on your C: drive, select them with the mouse and then drag them to the letter drive of your card.
Voila!
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dao45
Junior Nomad
Posts: 93
Registered: 5-21-2007
Member Is Offline
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As far as tourist based economies go it usually starts out with resturants and bars.Then craft shops or art galleries then imports because everyone is
trying to be competitive.
Most tourist economies dont generate a lot of good paying jobs.Then prices go up in the rental sectors and normal shop keeper or service industry
workers find rents very high compared to wages.Results are work here and live somewhere else.
Also in a downturn of the economy small shops tend to be the first to suffer as a result there are lay offs.Less taxes generated and in general less
income generated for government.
In my humble opinion a mixture of tourism and small manufacturing is a much better blend for a small community or village.With small manufacturing
your sales base doesnt really count on people visiting your community and as a result helps insulate you from things such as high fuel costs
downturns in visitors and the like.
But then again I am now retired and dont really care much
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fishbuck
Banned
Posts: 5318
Registered: 8-31-2006
Member Is Offline
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I went to the Pyrimid resort last weekend.
It was deserted. I only saw one other room ocupied.
It was like me and my girl had a private oceanfront mansion.
Heck we could have stood naked on the balcony and no one would know. 
I hoping to buy some more property in Baja if the prices come down some more.
And maybe some in the US too.
I've been working my tail off and trying to pay off all my bills.
So if I get layed off I will spend some time in Baja before I find another job.
But if I don't I'll be looking for opertunities in Baja.
"A ship in harbor is safe, but that is not what ships are built for." J. A. Shedd.
A clever person solves a problem. A wise person avoids it. – Albert Einstein
"Life's a Beach... and then you Fly!" Fishbuck
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woody with a view
PITA Nomad
Posts: 15939
Registered: 11-8-2004
Location: Looking at the Coronado Islands
Member Is Offline
Mood: Everchangin'
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been swinging my hammer strong for the past 4-5 years for a general contractor building military homes all over the southwest. laid off until
"novemberish". the down time is welcome so i can do some side jobs to add to my "much enjoyment", er, i mean unemployment.
that, and i have a lot of time for baja. 10 days in 9 days.... life is good.    
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Skeet/Loreto
Ultra Nomad
Posts: 4709
Registered: 9-2-2003
Member Is Offline
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Texas Nomad is doing Great!!
Here in the Texas Panhandle as in other Parts of Texas the slowdown is just starting.
It is different in Baja!, Just talked to my Friend Alvaro{The Best Pangero Fishermand in Loreto}In my Opinion]. He and the other Pangeroas are having
trouble with very few Customers.
I think that maybe some of the other Fishin Companies are having trouble also, just have not posted it.
I will let the Board know my Opinions after my trip down next week.
I understand from others that the "Time Share Scamers are geting real "Pushy on the streets of Loreto""
Is that True Pam???
If I was of the mind to make a Couple of Million in the next 5 to 10 years I still say go into the Lower Income Residential Rental Business.
Save your Cash.
Skeet
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mulegemichael
Super Nomad
Posts: 2310
Registered: 12-24-2007
Location: sequim,wa. and mulege
Member Is Offline
Mood: up on step
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The present situation is not good, as we all know...everyone is suffering to one degree or another. Our tourist business is down but our retail and
internet sales are steady or up. Our broker says look at the "upside"; time to buy!!
dyslexia is never having to say you\'re yrros.
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Hook
Elite Nomad
Posts: 9010
Registered: 3-13-2004
Location: Sonora
Member Is Offline
Mood: Inquisitive
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Hard to tell how slow it is during the off season over here in Sonora. The next month should tell much. Some snowbirds starting to return, though.
Real estate market is glutted over here. Very little moving, even empty lots. Some homes are approaching three years on the market................but
the foolish owners, advised by their foolish RE agents wont drop the price. Those that do, can get sold. Prices have definitely dropped, though.
It would be naive to think that trouble with the US economy wont translate to Mexico. It's now starting to affect the whole global economy, including
China and Europe.
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oxxo
Banned
Posts: 2347
Registered: 5-17-2006
Location: Wherever I am, I'm there
Member Is Offline
Mood: If I was feeling any better, I'd be twins!
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I am speaking as a full time resident of Baja living in and on retirement. I have seen my retirement income reduced by about 10% over the last month
as a result of the market crash in the US. However, I have seen the peso fall in value by about 10% relative to the US dollar over that same one
month period. So, on a short term basis, I have seen my lifestyle remain about the same overall.
But I expect my retirement accounts to fall even further in the future. And according to the Gringo Gazette, business is off about 30% in Los Cabos
as compared to last summer and I expect it will get worse. That means that the "mexican business model" will kick in any time now in the face of
reduced business and falling peso. That Los Cabos business model means increasded prices with a corresponding decrease in quantity and/or quality
and/or services. That means I will have less money to spend on more expensive goods and services in Baja.
So, I expect that my standard of living is going to be falling at some time in the future. But I would rather suffer in Baja than suffer in Fresno.
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Keri
Super Nomad
Posts: 1393
Registered: 10-31-2002
Location: La Mision, Baja Norte
Member Is Offline
Mood: muy contento
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Our business is off by 2/3. I hate to see this winter. We were in La Fonda last Monday night . No one else there just us for 2 hours then 1 more
couple came in. I see lots of little stores closing in Rosarito. The economy coupled with the media and we are pretty dead in the water here. Every
one we talk to here is hurting bad and it is going to get worse before it gets better. Winter is always slow anyway so we have the season to add to
the equation also . We will have to wait until summer again to hopefully see a raise in the tourism. Some one said they were seeing alot of Europeans
here, I haven't seen that but we have been getting many more Mexicans. That is now most of our clientele ,k
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shari
Select Nomad
Posts: 13048
Registered: 3-10-2006
Location: bahia asuncion, baja sur
Member Is Offline
Mood: there is no reality except the one contained within us "Herman Hesse"
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We are finding that we are getting more clients who used to go to more expensive areas. For example this big group usually goes fishing in San Quintin
but came here to check it out...LOVED the fishing and cheaper prices on both accomodation and fishing and will be back.
WE havent really experienced the setbacks yet due to economy but I'm sure we will.
Fortunately lots of canadians come here and camping types who maybe arent so tied into economic fluxuations.
My sincere regrets to all of you who are suffering...chin up!
[Edited on 9-30-2008 by shari]
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Hook
Elite Nomad
Posts: 9010
Registered: 3-13-2004
Location: Sonora
Member Is Offline
Mood: Inquisitive
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| Quote: | Originally posted by oxxo
I am speaking as a full time resident of Baja living in and on retirement. I have seen my retirement income reduced by about 10% over the last month
as a result of the market crash in the US. However, I have seen the peso fall in value by about 10% relative to the US dollar over that same one
month period. So, on a short term basis, I have seen my lifestyle remain about the same overall.
But I expect my retirement accounts to fall even further in the future. And according to the Gringo Gazette, business is off about 30% in Los Cabos
as compared to last summer and I expect it will get worse. That means that the "mexican business model" will kick in any time now in the face of
reduced business and falling peso. That Los Cabos business model means increasded prices with a corresponding decrease in quantity and/or quality
and/or services. That means I will have less money to spend on more expensive goods and services in Baja.
So, I expect that my standard of living is going to be falling at some time in the future. But I would rather suffer in Baja than suffer in Fresno.
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If your fixed income dropped by 10% and the peso lost 10% in relation to the dollar, assuming you are paid in dollars and prices in Mexico reflect the
devaluation, doesnt that translate to a 20% drop in purchasing power while you're down there?
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oxxo
Banned
Posts: 2347
Registered: 5-17-2006
Location: Wherever I am, I'm there
Member Is Offline
Mood: If I was feeling any better, I'd be twins!
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| Quote: | Originally posted by Hook
If your fixed income dropped by 10% and the peso lost 10% in relation to the dollar, assuming you are paid in dollars and prices in Mexico reflect the
devaluation, doesnt that translate to a 20% drop in purchasing power while you're down there? |
I guess I didn't explain myself properly. My dollar buys 10% more pesos than it did one month ago.
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