If there is opportunity anywhere, it has to be in Mexico. The Mexican economy is reeling from the triple punch of the world economic crisis, the swine flu and the drug wars. None of these things are permanent issues. The world economic crisis is either starting to end or it is having a “dead cat bounce”. The drug wars are not over; but the rest of the world and especially the USA cannot allow the Mexican government to lose.
The rest of the world is just starting to cough from the swine flu. Mexico has borne the brunt of it already. Tourism is starting a very slow rebound. Most of this is from bargain hunting vacationers. The oil market is still pretty weak and Mexican GDP is actually predicted to be a negative 7.1% this year according to the economist. http://www.economist.com/COUNTRIES/Mexico/profile.cfm?folder=Profile-Economic%20Data . This has got to be the time to watch if not the time to buy.
There is the possibility of a little more downside in Mexico. It depends on whether you believe the world economy has begun to recover or is just doing a “dead cat bounce”. Is this the beginning of the end or the end of the beginning? I want to believe the end of the beginning is near.
David Segrest is a REALTOR® in Charlotte NC. His website is http://www.segrestrealty.com His email is david@segrestrealty.com He is also a contributor on Argentina to: http://realestatebloginternational.com/
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