MEXICO CITY (AP) -- In her bustling corner real estate brokerage, Ana Laura Pulido is doing her best business in years, enjoying a sort of Mexican immunity from the U.S. housing crash.
"It's a time of hope," said Pulido, who has sold hundreds of homes to middle-income families since 1992. "The buyer today is more aware. People buy with more ease. They can plan long-term."
Long thrashed by swings in the U.S. economy, Mexico now boasts a thriving housing sector whose record growth leads Latin America -- a sign of increased economic stability and an outlet for investors looking to escape the U.S. downturn.
Long thrashed by swings in the U.S. economy, Mexico now boasts a thriving housing sector whose record growth leads Latin America -- a sign of increased economic stability and an outlet for investors looking to escape the U.S. downturn.
Giants including the California Public Employees Retirement System, the largest U.S. public pension fund, are already bankrolling projects in Mexico, where they see "more bang for the buck," said Clark McKinley, spokesman for CalPERS, which has invested more than $300 million in Mexican real estate funds.
The trend could even slow emigration from Mexico, by generating millions in jobs and personal savings as a fresh supply of loans gives many their first chance to own a house.
President Felipe Calderon has set a national goal of a million new mortgages a year by 2010. On Monday, he unveils a set of measures to ensure growth continues, with plans to boost Mexico's small resale market and combat the urban sprawl that has begun to carpet valleys with hundreds of thousands of matchbox rowhomes. More on the story.
President Felipe Calderon has set a national goal of a million new mortgages a year by 2010. On Monday, he unveils a set of measures to ensure growth continues, with plans to boost Mexico's small resale market and combat the urban sprawl that has begun to carpet valleys with hundreds of thousands of matchbox rowhomes. More on the story.
2 comments:
It will slow immigration to the US.
Yep, if it continues this country will not have to worry about immigration.
Smart move as Whites and Blacks fight each other over the lost of the US economy the immigrants are pooling together and buy up what the Saudis aren't'. Talk about a slick invasion. Bush is running around lying and Cheney is using the VP spot to get international oil deals for himself and his business friends. Goldman Sachs got billions from inside information and Henry Paulson as US Treasury Secretary is using his job to build his own personal business. Oh yes as for the rest of the American people we lose.
I wondered with the reporters on every station lying I wonder what each one would do if their pay checks stopped.
In a way turn around is fair play. America was founded on the stolen land from the Indians and then Mexicans stole California. Most wouldn't want to look at history it's better to think of ourselves as above that stuff. I read about how the Jewish Americans said they suffered by not being included, then I remembered how African Americans got to the US and how they were treated. One would think we had learned from our pass but we didn't and it will repeat itself.
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