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Woooosh
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Location: Rosarito Beach
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30% of Baja Construction Companies Have Closed So Far in 2011
The land title frauds and real estate crooks have not only have killed the goose that laid the golden egg- they also took the few good jobs their
neighbors had away from them. No wonder crime is up- people who came here for construction jobs are now stuck, hungry and desperate.
http://rosaritoenlanoticia2.blogspot.com/2011/09/cierran-30-...
Tijuana .- The president of the Mexican Chamber of Construction Industry (CMIC) in Tijuana, Mendoza Javier Correa, said that so far this 2011 at
least 30 percent of companies in the industry have had to close due to lack of work.
"We are talking that there are 170 in CMIC and closed 30 per cent since the start of the year, mainly because there has been private investment," he
said.
He explained that public investment is that has kept alive the construction sector, because only this year, investments were made of 2560 million
pesos in Tijuana.
"We are struggling to do the work the local businesses and the economic spillover to stay here, but most local companies do "he said.
He also said that although in the past two months have seen a slight increase in work, are still waiting to see the stabilization of the dollar, as we
already have developed increases in materials, as in the case of structural steel and rod.
[Edited on 9-19-2011 by Woooosh]
\"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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bajajazz
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Posts: 386
Registered: 12-18-2006
Location: La Paz, BCS, Mexico
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In La Paz there are four major projects that seem to be dead in the water. The El Mogote boondoggle, for one. Also, the new condos adjacent to the
La Cancha Hotel, an 18-story monstrosity in La Posada and the conversion to condos of the old Gran Baja hotel.
The Los Arcos Hotel is still shut down, dragging down that whole end of the Malecon.
On the presumed up-side, work on the two new malls is still proceeding apace and the economic health of the general economy seems to be vibrant.
Problem areas seem to be confined to resort and vacation developments that were not market-driven, a problem exacerbated by the fact that air travel
from the USA to La Paz is worse now than it was 25 years ago.
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bajajazz
Nomad
Posts: 386
Registered: 12-18-2006
Location: La Paz, BCS, Mexico
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In La Paz there are four major projects that seem to be dead in the water. The El Mogote boondoggle, for one. Also, the new condos adjacent to the
La Cancha Hotel, an 18-story monstrosity in La Posada and the conversion to condos of the old Gran Baja hotel.
The Los Arcos Hotel is still shut down, dragging down that whole end of the Malecon.
On the presumed up-side, work on the two new malls is still proceeding apace and the economic health of the general economy seems to be vibrant.
Problem areas seem to be confined to resort and vacation developments that were not market-driven, a problem exacerbated by the fact that air travel
from the USA to La Paz is worse now than it was 25 years ago.
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wessongroup
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Registered: 8-9-2009
Location: Mission Viejo
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Mood: Suicide Hot line ... please hold
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Thanks jazz... a great thumb nails of what's going on ... your way..
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EnsenadaDr
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Registered: 9-12-2011
Location: Baja California
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Mood: Move on. It is just a chapter in the past, but don't close the book- just turn the page
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Look at all those ghost condos just built in the past few years on the road between Ensenada and Tijuana...and they keep building them with no
buyers..what's that all about???
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Woooosh
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| Quote: | Originally posted by EnsenadaDr
Look at all those ghost condos just built in the past few years on the road between Ensenada and Tijuana...and they keep building them with no
buyers..what's that all about??? |
There are 70 unfinished projects in the TJ to Ensenada corridor. A few of them have private financing (Like NAOS in north Rosarito) and are still
going up but progress seems to be a lot slower than in the past. They need to spend the money, but they also know there is no big rush to finish.
You can figure out the rest...
[Edited on 9-21-2011 by Woooosh]
\"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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krafty
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Registered: 8-23-2010
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Wooosh, have to disagree-we have seen alot of projects pick up again this summer in the corridor, and houses being built near us but only when the $$
is there, is how this is working.
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mcfez
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Registered: 12-2-2009
Location: aka BN yankeeirishman
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Not only in Baja.
Construction projects are collecting dust in the Sacramento valley. 90 % of the Contractors are idle. Material vendors are stuck with vast
inventories.
Old people are like the old cars, made of some tough stuff. May show a little rust, but good as gold on the inside.
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JESSE
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In La Paz most projects that focus on the american buyer are paused. But the ones that focus on Mexicans are going ahead.
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EnsenadaDr
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Location: Baja California
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Mood: Move on. It is just a chapter in the past, but don't close the book- just turn the page
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This might sound stupid, but why do they need to spend the money??
| Quote: | Originally posted by Woooosh
| Quote: | Originally posted by EnsenadaDr
Look at all those ghost condos just built in the past few years on the road between Ensenada and Tijuana...and they keep building them with no
buyers..what's that all about??? |
There are 70 unfinished projects in the TJ to Ensenada corridor. A few of them have private financing (Like NAOS in north Rosarito) and are still
going up but progress seems to be a lot slower than in the past. They need to spend the money, but they also know there is no big rush to finish.
You can figure out the rest...
[Edited on 9-21-2011 by Woooosh] |
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CortezBlue
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Registered: 11-14-2006
Location: Fenix/San Phelipe
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| Quote: | Originally posted by Woooosh
The land title frauds and real estate crooks have not only have killed the goose that laid the golden egg- they also took the few good jobs their
neighbors had away from them. No wonder crime is up- people who came here for construction jobs are now stuck, hungry and desperate.
[Edited on 9-19-2011 by Woooosh] |
This is not at all what the article says?
You are throwing personal spin into the mix.
Construction is down globally as money is not available from banks to invest in such projects anywhere globally.
If you do the research you will find that nationally Mexico is doing better than most conuntrys economically speaking as they do not finance
construction projects the way we do in USA.
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EnsenadaDr
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Location: Baja California
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Mood: Move on. It is just a chapter in the past, but don't close the book- just turn the page
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Have to disagree here...
If the banks are so discriminating then why are there so many unoccupied, unfinished condo high rises up and down the coast??? Just sayin'
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DENNIS
Platinum Nomad
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| Quote: | Originally posted by CortezBlue
nationally Mexico is doing better than most conuntrys economically speaking as they do not finance construction projects the way we do in USA.
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That's right. They leave that to the Cartels. They don't care that the units arn't selling. It's just a good place to stash their money.
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nationally Mexico is doing better than most conuntrys economically speaking
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This is laughable.  Thanks. I needed that.
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bajamigo
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| Quote: | Originally posted by EnsenadaDr
If the banks are so discriminating then why are there so many unoccupied, unfinished condo high rises up and down the coast??? Just sayin'
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Which banks? This is Mexico.
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Woooosh
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narco-banks silly.
\"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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E.D.R.Rick
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Posts: 36
Registered: 2-24-2010
Location: sacramento/san felipe
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| Quote: | Originally posted by mcfez
Not only in Baja.
Construction projects are collecting dust in the Sacramento valley. 90 % of the Contractors are idle. Material vendors are stuck with vast
inventories. |
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CortezBlue
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Location: Fenix/San Phelipe
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GDP growth in Mexico in 2010 is over double what the USA did in 2010 according to Global Statistics.
USA -2.5% Growth 2008
USA 2.2 - 2.5% Growth 2010
Mexico -6.0% Growth 2008
Mexico 5.3 - 5.6% Growth 2010
Mexico had a deeper recession than we did, but were able to get out of it faster due to the lack of the mortgage crisis. In fact Mexico had the
hardest hit economy of all Latin American countries.
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bajajazz
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Location: La Paz, BCS, Mexico
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Canada and Mexico did not invest in the fraudulent "securities" peddled by Wall Street -- unlike Europe and Asia -- and their banking systems are not
compromised as a result.
Adding to Mexico's relative affluence is the liquidity from drug sales, which injects an estimated 20 to 40 billions of dollars into the Mexican
economy every year. The graft alone is estimated to be six billions of dollars per year.
The purpose of the "War On Drugs" is not to eliminate the goose that lays the golden eggs but is, instead, designed to artificially support the high
price of drugs and get their distribution into the hands of one or two drug lords who will make a deal with the government to refrain from
headline-making violence in return for being allowed to conduct business-as-usual.
What's going on today is not a "War On Drugs." It is a battle for turf.
Whenever you come upon a problem or an event for which there is no seeming reason (like construction of condos no one wants to buy) look for the
economic motive -- you'll usually find it.
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DENNIS
Platinum Nomad
Posts: 29510
Registered: 9-2-2006
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| Quote: | Originally posted by bajajazz
What's going on today is not a "War On Drugs." It is a battle for turf.
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Even moreso, a battle for power. The cartels went unchecked for so long that they grew like the cancer they are. More powerful than anyone ever
imagined.
Now, they are supporting candidates and when their people have the reins of government, they will have the country.
I can only hope my future tense is accurate.
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DENNIS
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| Quote: | Originally posted by CortezBlue
GDP growth in Mexico in 2010 is over double what the USA did in 2010 according to Global Statistics.
USA -2.5% Growth 2008
USA 2.2 - 2.5% Growth 2010
Mexico -6.0% Growth 2008
Mexico 5.3 - 5.6% Growth 2010
Mexico had a deeper recession than we did, but were able to get out of it faster due to the lack of the mortgage crisis. In fact Mexico had the
hardest hit economy of all Latin American countries. |
And you will accept figures from a country that won't count their destitute, illegal migrants as part of their unemployed?
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