In Spite of Weak Peso, Mexicans Are Fourth Largest Investors of Real Estate in US Danny - Financial Buzz
go to original March 25, 2016

Contrary to the popular belief of a poverty struck Mexico, and a weak currency exchange with the US, many Mexicans are buying up property in boat-loads in the United States of America. Mexico is one of the largest trading partners of the US. In fact, Mexico happens to be the third largest trading partner with the United States. It is the southern neighbor, and despite many rants and anti-Mexican sentiment growing and budding in the nation, Mexicans are buying up major plots of land and real estate property in the United States.

Even though the Mexican peso has been a weak comparison in North America, there is still a substantial amount of the American market that is bought out by Mexicans. Mexicans are the fourth largest foreign buyers of real estate in the US, right after China, Canada, and India. The American real estate market, which was once one of the worst hit of the 2008 financial meltdown now seems to be making a strong comeback. The real estate market was also responsible for the economic crisis nearly a decade ago.

The American real estate market has begun a surprising climb up the ladder, however, this time, the American markets are being inundated with foreign money. Many critics state that America has become a haven for real estate investors. Many of the real estate investors in America from Mexico are also claimed to be wealthy politicians who could possibly be convicted for embezzlement scandals in Mexico. The pattern of inviting investments in the American real estate has been growing constantly and consistently in the past several years. It is also seen pushing out local American investment which is driving up the market price for real estate in big cities.

Read the rest at Financial Buzz

Photo: BBC

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