From one extreme to the other: snow in Portland and 90 degrees plus down here in Ixtapa where we’ll be for a few more days. There is a large partial construction site right across from us. What I hear, from those that know, is that Mexico is full of partial construction projects. They open with great fanfare, take deposits and when the money runs out, so does the work. Then they have been known to reopen as new project and resume building with a different set of investors. As Mexico has become an easy-to-reach destination from so much of the US, you have to assume that some Americans must have lost their deposits though this method of fund, build, fund, repeat. One would also expect as equity positions decline in US markets, the vacation home in Mexico will become less attractive and possible for many that were looking south to thaw out.
Looks like a good thread going on the previous “Buy Here Now” post. Thanks for the participation. Sorry we’re going to miss the blogger get together tonight.