wessongroup
Platinum Nomad
Posts: 21152
Registered: 8-9-2009
Location: Mission Viejo
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Mood: Suicide Hot line ... please hold
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Baja tourism ... why yes, why do you ask two dogs
From another thread.. which got into the chances for a real robust recovery down here in Baja...
Most tourism is based on ones ability to spend "MONEY" it's really that simple.. and given the current state of California which is setting at around
20% unemployment, and no help on the horizon for the folks in the 40s, 50s and 60s crowd.... that have been laid off and have lost: their 401K's,
retirement, and homes.. and now don't even have unemployment ......
Just a guess, but, don't think many from that crowd are coming back down for vacations and in all likely hood won't be investing and/or buying
property either in Baja... and think they call some part of the bunch "baby boomers"...
Here is a link to a 60 Minute report on same...
http://tinyurl.com/2f4dkx3
It all helps ..
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Woooosh
Banned
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Registered: 1-28-2007
Location: Rosarito Beach
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Mood: Luminescent Waves at Rosarito Beach
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That 20% number doesn't include people who have given up looking for work (age 50 and up who were laid off for example) or who are "under"employed.
The real number is closer to 30% in CA which is the real problem for the Baja Norte economy and tourism related businesses. Just when people have the
time to enjoy Baja (vacation, second home, retirement move) they don't think it's a stable investment. Is anyone besides the narco-funded developers
ahead who invested in Baja since 2005? A few Rosarito developers bit the Mexican bullet and have actually slashed their unit prices by up to 30%- and
they still haven't sold them. Mexico real estate is still like "catching a falling knife" and is a huge financial risk given the economic, political
and social uncertainty. Then there is the crime. Which of course leads us to the Golden Rule of Baja Real Estate- "Never invest more than you can
afford to walk away from".
plus- on the other side you can just walk away from your mortgage and default if you get upside down. What a convenience. Paying 100% cash for a
house in Mexico you don't intend to live your life out in is a bigger financial risk than picking up a Las Vegas or Arizona house at 40% off. Just
walk away.
\"The only thing necessary for the triumph of evil is for good men to do nothing\"
1961- JFK to Canadian parliament (Edmund Burke)
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Bajahowodd
Elite Nomad
Posts: 9274
Registered: 12-15-2008
Location: Disneyland Adjacent and anywhere in Baja
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Gotta admit that I've seen some incredibly low prices on the foreclosure market in Clark County. Stuff like four bedroom, three bath, pool home six
years old, $85,000. Thought about it. Couldn't reconcile the idea I'd be living in Clark County.
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BajaRat
Super Nomad
Posts: 1304
Registered: 3-2-2010
Location: SW Four Corners / Bahia Asuncion BCS
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Mood: Ready for some salt water with my Tecate
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Most of those places in Az are just as dangerous.
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Woooosh
Banned
Posts: 5240
Registered: 1-28-2007
Location: Rosarito Beach
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Mood: Luminescent Waves at Rosarito Beach
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| Quote: | Originally posted by Bajahowodd
Gotta admit that I've seen some incredibly low prices on the foreclosure market in Clark County. Stuff like four bedroom, three bath, pool home six
years old, $85,000. Thought about it. Couldn't reconcile the idea I'd be living in Clark County. |
It's about having options that work and make sense for you. Sadly, a lot of people are re-writing their retirement dreams and plans for the worse.
For many people- retiring in Mexico no longer makes economic sense and then you add on the depreciation and fear factors. No one is buying Baja with
home equity loans or with proceeds from flipping houses stateside either now or in the future- which I should think was a large source of funds for
Baja real estate. Mortgages stateside are less than 4% too and there is lots of inventory for sale at very cheap prices. It makes Baja a harder sell
for the next five to seven years or so imho.
\"The only thing necessary for the triumph of evil is for good men to do nothing\"
1961- JFK to Canadian parliament (Edmund Burke)
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woody with a view
PITA Nomad
Posts: 15939
Registered: 11-8-2004
Location: Looking at the Coronado Islands
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Mood: Everchangin'
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| Quote: | Originally posted by Bajahowodd
Gotta admit that I've seen some incredibly low prices on the foreclosure market in Clark County. Stuff like four bedroom, three bath, pool home six
years old, $85,000. Thought about it. Couldn't reconcile the idea I'd be living in Clark County. |
those POS's were probably built for that price.... cheapest fixtures, materials and labor. new construction is a joke, unfortunately. lottsa $ to
maintain down the road.......
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k-rico
Super Nomad
Posts: 2079
Registered: 7-10-2008
Location: Playas de Tijuana
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Woooooooooooooosh,
I'm wondering what you write about if there wasn't a drug war and the economy was good.
Perhaps about all the noisy tourists, expensive real estate, increased pollution, and crowds everywhere?
Yesterday it was about dangers in TJ, today the depressed economy. Thanks for the news flashes.
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Woooosh
Banned
Posts: 5240
Registered: 1-28-2007
Location: Rosarito Beach
Member Is Offline
Mood: Luminescent Waves at Rosarito Beach
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| Quote: | Originally posted by k-rico
Woooooooooooooosh,
I'm wondering what you write about if there wasn't a drug war and the economy was good.
Perhaps about all the noisy tourists, expensive real estate, increased pollution, and crowds everywhere?
Yesterday it was about dangers in TJ, today the depressed economy. Thanks for the news flashes. |
You're welcome. When the economy is slow- I get bored and reply to people questions. There's no drug war- it's a money war using drugs for currency.
Tourists aren't noisy when there aren't any around, no beach crowds because there's no beach left and the water is actually cleaner in Rosarito than
San Diego. So I'm good until the snow flies and I migrate north, Thanks.
\"The only thing necessary for the triumph of evil is for good men to do nothing\"
1961- JFK to Canadian parliament (Edmund Burke)
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Hook
Elite Nomad
Posts: 9011
Registered: 3-13-2004
Location: Sonora
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Mood: Inquisitive
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If you've lost your 401k/403b at this point, you weren't patient through the recent downturns. The slogan is not "buy high, sell low".
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Santiago
Ultra Nomad
Posts: 3531
Registered: 8-27-2003
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| Quote: | Originally posted by Hook
If you've lost your 401k/403b at this point, you weren't patient through the recent downturns. The slogan is not "buy high, sell low".
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Good point right there.
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Bajatripper
Ultra Nomad
Posts: 3151
Registered: 3-20-2010
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| Quote: | Originally posted by Woooosh
...those who have given up looking for work...(age 50 and up who were laid off for example) |
Thanks, Wooosh, for making what has become my professional laziness seem OK. Now I can hold my head high once more!
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wessongroup
Platinum Nomad
Posts: 21152
Registered: 8-9-2009
Location: Mission Viejo
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Mood: Suicide Hot line ... please hold
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Hope it does the same for a lot of others .... that had to take the hit !!!
Some of us just got lucky, as I know my IQ ... little above room temp...
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bajabass
Super Nomad
Posts: 2016
Registered: 10-4-2006
Location: La Paz,BCS
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Mood: Want to fish!!!
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| Quote: | Originally posted by wessongroup
Hope it does the same for a lot of others .... that had to take the hit !!!
Some of us just got lucky, as I know my IQ ... little above room temp... |
I know what you mean Wiley! I's
just a mechanic from Michigan. I's takin what little I's got, and headin fur Mexico! Befur it's all gone 
Keep your eyes on the road, and your hands upon the wheel!
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bajatravelergeorge
Nomad
Posts: 154
Registered: 9-21-2010
Location: Baja Norte
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Mood: Happy
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On top of it all, the dollar is falling in value, under 12 pesos the other day at the exchanges.
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