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CNN Video on Digital Nomads Moving to CDMX

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Rory2u
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Post by CanuckBob Sat Aug 20, 2022 12:41 pm

I think these journalists underestimate the positive financial impact that the expats bring to Mexico. The expats in and around lake Chapala bring well over $150,000,000 USD into this area each and every year. I can't imagine how many billions of dollars all the expats bring into Mexico each year.

Unfortunately this "anti foreigner" sentiment is being fueled by the very top. 2024 can't come fast enough.

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Post by Jreboll Sat Aug 20, 2022 12:51 pm

Not all of it is positive. Gentrification has had negative impact in a lot of American cities and the same might happen in areas of mexico

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Post by CanuckBob Sat Aug 20, 2022 12:55 pm

Yeah, gentrification happens all over the world in any place that is desirable. Just look at Vancouver and Toronto as examples. It's a fact of life........supply and demand.

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Post by RickS Sat Aug 20, 2022 3:17 pm

$150 million yearly.... WOW. Bob, generally what makes up that amount annually?
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Post by dixonge Sat Aug 20, 2022 3:27 pm

RickS wrote:$150 million yearly.... WOW.  Bob, generally what makes up that amount annually?

$10k/yr x 15k expats will get you there
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Post by BisbeeGal Sat Aug 20, 2022 3:39 pm

CanuckBob wrote:Yeah, gentrification happens all over the world in any place that is desirable. Just look at Vancouver and Toronto as examples. It's a fact of life........supply and demand.

But the US's treatment of Mexican immigrants (both legal and illegal) has to be a factor.  

We all know locals who went Norte to work and support their family down here, or to build a nest egg that would have been impossible for them here.  Those who went illegally were badly exploited -- paid well below what Americans were paid for the same work, threatened with deportation if they complained about pay or working or safety conditions.  

As far as day-to-day living, even Mexicans there legally were probably not greeted by the local Welcome Wagon when they moved into a US neighborhood.  

Many Mexicans have either experienced discrimination at the hands of Americans or they have very close family members who did...and perhaps still do.  

So having a bunch of entitled US Millennials show up in their Mexican neighborhood dripping wads of cash and forcing Mexicans out of what had been affordable housing, has to sting.  I can understand their resentment.
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Post by CanuckBob Sun Aug 21, 2022 8:43 am

dixonge wrote:
RickS wrote:$150 million yearly.... WOW.  Bob, generally what makes up that amount annually?

$10k/yr x 15k expats will get you there

Yes and I believe it is a lot more. I didn't even factor in the one time real estate purchase capital that gets spent here every year. While Ajijic may be artificially inflated the rest of the region still has affordable housing in line with Guadalajara prices.

The average price of a condo in Guadalajara was 190K USD a few years ago. I imagine it is higher now. The desirable neighborhoods there are also expensive.

Buy Apartment Price from Numbeo

Guadalajara vs Ajijic

Price per Square Meter to Buy Apartment in City Centre 27,592.00 MXN vs 18,529.85 MXN     -32.84 %
Price per Square Meter to Buy Apartment Outside of Centre 16,400.00 MXN vs 17,182.64 MXN     +4.77 %

Guadalajara Centro is 32% higher than Ajijic Centro for RE prices however rents are definitely higher in Ajijic.......

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Post by CanuckBob Mon Aug 22, 2022 11:12 am


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Post by dixonge Mon Aug 22, 2022 1:42 pm

mudgirl wrote:
dixonge wrote:
mudgirl wrote:Something else interesting that Mexico has recently done- up until now, a temporary resident could get an RFC number. They have just kiboshed that.

So all the people reporting that they went to SAT in Guadalajara and got their RFC with just a residente temporale card are ... making it up? scratch

The info that temp residents won't be eligible for RFCs was very recent- I think I read that only a week and a half ago.

And like many Mex. govt. things, it may have been a very ill-thought out idea that they will end up backtracking on, like saying everyone needed the RFC and Constancia by June 30.

We both received RFC’s and Constancias today. My Temporale status was not a factor at all.
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Post by CanuckBob Mon Aug 22, 2022 8:02 pm

Yes, as posted above it was only a problem in some of the remote SAT offices.

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