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How the Path to Home Ownership Runs Through Mexico

nytimes.com

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Re: How the Path to Home Ownership Runs Through Mexico

#21

Post by Ekaros »

hellohowareu wrote: post #19
ChuckNorris89 wrote: post #4

And what's the path to home ownership for Mexicans being priced out by Americans? I'm not Mexican nor American, but I'm against this economic neocolonialism where rich countries get to export their self inflicted housing issues by pricing out the locals in cheaper countries who, through no fault of their own, get the short end of the stick by means of capital leverage, or lack thereof. Laws should be passed in each c…

I would want to analyze the inverse in order to see the issue from at least two different sides: How does it benefit local Mexicans? For example, having additional money in their economy: in the hands of tourist businesses, services businesses, industrial product (vehicle?) sales, grocery sales, etc. Additionally, how does it affect the culture? For example, I'm a 100% remote software engineer. I love talking about B…

If the additional money in economy was so great shouldn't Silicone Valley be absolute paradise for everyone? Clean, safe and everyone housed. There is lot of money in property there. So it must be perfect for everyone?

Re: How the Path to Home Ownership Runs Through Mexico

#22

Post by slowhand09 »

ChuckNorris89 wrote: post #4

And what's the path to home ownership for Mexicans being priced out by Americans? I'm not Mexican nor American, but I'm against this economic neocolonialism where rich countries get to export their self inflicted housing issues by pricing out the locals in cheaper countries who, through no fault of their own, get the short end of the stick by means of capital leverage, or lack thereof. Laws should be passed in each c…

I doubt anybody writing about this is seeing (or presenting) the entire picture. My wife owns a business in the US. Many of her employees are hispanic. The work is seasonal so the number of employees varies thru the year. Several of them return to their home countries in Mexico or Central America during the slow season. Most of them either send money "home" during the busy season, or carry it when then go. We've seen photos of their homes, often paid off, and sometimes with 2nd homes. Of those, some are quite nice, often with pools and courtyards. Of course it isn't like this for all, but some people making US wages here while living in communal spaces, are sending their higher wage assets back. And living well at home.

Re: How the Path to Home Ownership Runs Through Mexico

#23

Post by toomuchtodo »

drchopchop wrote: post #15
some_random wrote: post #9

Earlier quoted context omitted.

It's famously easy to uproot one's entire life and permanently move to another country.

Extremely easy. You just have to navigate a maze of foreign visa requirements, have a large amount of money, no need to work, learn a foreign language, get your partner/dependents to agree, and be separated from all your existing friends/family. Why don't more people do it?

You are somewhat overblowing the situation. Mexican financial solvency requirements are fairly low to get temporary or permanent residency. I applied for and received permanent residency for our entire family with 12 months of statements of a reasonably sized 401k. Portugal’s D7 visa requires $9k/year in passive income for a single person, $18k for a family of four (these numbers are likely lower now with the EUR approaching parity with the USD). These are not crazy numbers to accomplish. They’ll also accept a remote job if your company attests that they supports you doing so. I learned this from casual reading of Facebook groups and a gaggle of Reddit subreddits, confirming ground truth with immigration attorneys.

It is not one click, for sure, but these hurdles are nothing tremendous to overcome for a functioning adult. It is a reasonable path for people who have been priced out of a good life in the US by way of its economic and policy configuration. If the situation isn’t going to improve, you shop for a better jurisdiction to exist in.

Re: How the Path to Home Ownership Runs Through Mexico

#24

Post by hellohowareu »

drchopchop wrote: post #15
some_random wrote: post #9

Earlier quoted context omitted.

It's famously easy to uproot one's entire life and permanently move to another country.

Extremely easy. You just have to navigate a maze of foreign visa requirements, have a large amount of money, no need to work, learn a foreign language, get your partner/dependents to agree, and be separated from all your existing friends/family. Why don't more people do it?

Eh, depends on where you decide to go.

Switzerland & New Zealand-- yes, to all that stuff.

But Mexico? You purchase a 6 month visa (which is just a paper receipt and a passport stamp) at the airport, border crossing, or immigration office, for about $40. Stay longer? No problem, just pay a small fine ($30? I forgot the exact price) when you leave.

Learn a foreign language-- Spanish is among the easiest to learn. And there are bountiful opportunities in the US to learn, between classes & native speakers.

partner/dependents-- of course, this depends

friends/family-- yes, but you can visit them, they can visit you. And if you're willing to be outgoing, you can build new friendships they sometimes even become like family (or actual family)

One can see it positively-- as a growth experience. Or one can see it any way they choose.

The level of ease depends on many factors, including how much a person invests in consumer objects-- such as expensive furniture or vehicles. Personally, I've always bought used furniture at goodwill, and cheap used vehicles. And so I'm not super attached to most of my stuff. There is storage available for some things as well.

Re: How the Path to Home Ownership Runs Through Mexico

#25

Post by user-one1 »

harambae wrote: post #17
GoToThePubMate wrote: post #7

Earlier quoted context omitted.

> A better QoL is just a passport and a flight away. Ummmmmm And an immigration visa.

Not that I endorse spreading America's housing problems to the world, but many countries in southeast asia and africa will effectively allow you to get away with renewing your visa every 6 months in perpetuity. I knew one guy whose only legal requirement was to leave the country twice a year, for a day, in order to come back for another 6 months. But he didn't even do this - he went one step lazier and hired someone…

You can get a residence permit in Uruguay just with your birth certificate and your passport. Then you need to prove that you have the means to sustain yourself and that's it, no more requirements for moving here. Also, no taxes on software exports ;)

Re: How the Path to Home Ownership Runs Through Mexico

#26

Post by nine_zeros »

GoToThePubMate wrote: post #7
nine_zeros wrote: post #2

Since the pandemic I have claimed that a lot of Americans will discover the power of the dollar soon, when they realize that a better QoL is just a passport and a flight away. The current inflation, rate hikes and the tug of war between buyers and sellers will only expedite this knowledge. The common person in America just cannot win in this casino.

> A better QoL is just a passport and a flight away. Ummmmmm And an immigration visa.

The trick is to go into a country, stay there for the max allowed duration.

Then you fly back to US or visit another country for a month and go back to your base country. You can do this with Visa-on-arrival at most countries with a US passport.

Re: How the Path to Home Ownership Runs Through Mexico

#27

Post by wing-_-nuts »

ChuckNorris89 wrote: post #4

And what's the path to home ownership for Mexicans being priced out by Americans? I'm not Mexican nor American, but I'm against this economic neocolonialism where rich countries get to export their self inflicted housing issues by pricing out the locals in cheaper countries who, through no fault of their own, get the short end of the stick by means of capital leverage, or lack thereof. Laws should be passed in each c…

>economic neocolonialism

And this is where I stopped taking you seriously. This is the same sort of argument I see around 'gentrification' when really, it's carefully packaged prejudice that people can feel righteous about.

Re: How the Path to Home Ownership Runs Through Mexico

#28

Post by ChuckNorris89 »

hellohowareu wrote: post #19
ChuckNorris89 wrote: post #4

And what's the path to home ownership for Mexicans being priced out by Americans? I'm not Mexican nor American, but I'm against this economic neocolonialism where rich countries get to export their self inflicted housing issues by pricing out the locals in cheaper countries who, through no fault of their own, get the short end of the stick by means of capital leverage, or lack thereof. Laws should be passed in each c…

I would want to analyze the inverse in order to see the issue from at least two different sides: How does it benefit local Mexicans? For example, having additional money in their economy: in the hands of tourist businesses, services businesses, industrial product (vehicle?) sales, grocery sales, etc. Additionally, how does it affect the culture? For example, I'm a 100% remote software engineer. I love talking about B…

>How does it benefit local Mexicans?

Let me flip the script on you. How did rich Arabs, Asians and Russians buying US, London, Vancouver, etc. realestate benefit the average American/local? How much of their investment money ended up in the Average Joe's pocket? How much was his life improved from that added money? If you answer me this, I will eat my own hair.

I'm tired of this trope that real estate economic colonialism somehow benefits the locals so much, they should be damn grateful they're being priced out of their own countries/cities by richer foreigners because "they're spending their money here instead of back home".

No! You can try to spin it as some benevolent trickle down economics, but it only benefits the asset owning/rent seeking class and the middle men who make a living by taking a cut on real estate deals (banks, building developers, realtors, lawyers, notaries, etc.), basically those wo are already in the top 10%, if not even higher. The rest, mostly get shafted, as that's where the trickle down ends and the only effect they will experience is housing becoming even more unaffordable for them.

As much as you want to think you're helping, it doesn't improve the country at large, it just increases inequality. The rich get richer, while the poor will be poorer.

Otherwise Thailand, Vietnam and other expat enclaves for Westerners would be out of poverty by now. But that's not how this works. You don't get a poor country out of poverty by housing rich foreigners.

Re: How the Path to Home Ownership Runs Through Mexico

#29

Post by bushbaba »

hellohowareu wrote: post #19
ChuckNorris89 wrote: post #4

And what's the path to home ownership for Mexicans being priced out by Americans? I'm not Mexican nor American, but I'm against this economic neocolonialism where rich countries get to export their self inflicted housing issues by pricing out the locals in cheaper countries who, through no fault of their own, get the short end of the stick by means of capital leverage, or lack thereof. Laws should be passed in each c…

I would want to analyze the inverse in order to see the issue from at least two different sides: How does it benefit local Mexicans? For example, having additional money in their economy: in the hands of tourist businesses, services businesses, industrial product (vehicle?) sales, grocery sales, etc. Additionally, how does it affect the culture? For example, I'm a 100% remote software engineer. I love talking about B…

As houses sell for more, rent also increases. This caused services and labor costs to go up.

This causes inflation but most wages don’t go up by the same amount, making people poorer. Just look at Silicon Valley.

Re: How the Path to Home Ownership Runs Through Mexico

#30

Post by watwut »

Green_man wrote: post #12
ChuckNorris89 wrote: post #4

And what's the path to home ownership for Mexicans being priced out by Americans? I'm not Mexican nor American, but I'm against this economic neocolonialism where rich countries get to export their self inflicted housing issues by pricing out the locals in cheaper countries who, through no fault of their own, get the short end of the stick by means of capital leverage, or lack thereof. Laws should be passed in each c…

Housing isn't finite, if Americans are willing to spend money to increase the value of Mexican housing, Mexican builders/government can build more housing to take advantage of the increased demand. I don't see much reason why any country would need to ban foreign investment, especially when supply is artificially constrained by unjustifiable regulation (true of western US and Canada, no idea if true of Mexico)

How come that such building boom did not happened in America in the first place? It is not like America would lack land.
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