Time to buy a house lakeside

Not exactly new news:
DOJ says Mexican cartels operating in over 1,000 U.S. cities

Read more: http://dailycaller.com/2011/09/29/doj-says-mexican-cartels-operating-in-over-1000-u-s-cities/#ixzz1v5WQ7jKG

My money says the PRI pres. candidate (you know - the pretty boy that all the ladies love) gets elected and then things start to chill. It could be just like the good old bad old days with everybody in bed with everybody else - a purer kind of corruption - so to speak. I see similarities to Ronald Raygun, just another front man for all the shenanigans.

Why anyone would think the U.S. election is going to elect anyone other than a clueless idiot regardless of the label truly mystifies me. One clown thinks he can solve a 40 percent budget deficit with soak the rich and gay marriage and the other clown thinks the defense budget should be raised.

In the old days, you found these people at the circus. Now you find them at the White House.

CanuckBob wrote:Gotta agree with you Mr Dawg however for the gamblers, adversity can equal opportunity.

We agree CB but now is not the time to take advantage of real estate market negatives because the market has not softened to the point that price reductions signal investment opportunities. Asking prices on residential properties are still too high for today´s adverse circumstances. This is because of some factors affecting home prices at Lakeside that are very different from the U.S. or Canada as you know. No pressing need to sell quickly because almost no one is burdened with high balance, high cost mortgage debt or crushing property tax obligations. In addition, most foreign sellers are retired and not feeling compelled to sell because of job transfers, etc. Unless one is faced with serious medical issues not easily resolved here in Mexico that require a move to another country for urgent care, there is really no reason at this point to drastically reduce the asking price for a property to grease the sale quickly. Sure there is a crime epidemic at the moment associated with the drug conflict and some other issues but because so many have the option of simply hunkering down and seeing this through, asking prices simply remain high and sellers remain determined to wait this out as long as they can. After all, this place is historically peaceful with a very low crime rate and there is no reason to doubt that the current situation is an aberration and things will return to normal within a reasonable period of time after regime change next year.

Local foreign residents who purchased their homes a decade or more ago could easily drastically reduce their asking prices and still break even or better but this is not yet happening so the time to take advantage of a down market has yet to arrive in my judgment. Time will tell if investment opportunities lie down the road. Of course, things could really go to hell around here so lock the gates, watch you ass and be thankful if you are a homeowner here that you are not stuck in Buffalo.

hound dog wrote:
Local foreign residents who purchased their homes a decade or more ago could easily drastically reduce their asking prices and still break even or better but this is not yet happening so the time to take advantage of a down market has yet to arrive in my judgment. Time will tell if investment opportunities lie down the road. Of course, things could really go to hell around here so lock the gates, watch you ass and be thankful if you are a homeowner here that you are not stuck in Buffalo.

I agree with your assessment of the real estate situation lakeside. However, I don't like to see the use of the phrase investment opportunities. I don't think that a bunch of retired old farts from NOB should be trying to make money off of mexican real estate. Many local residents cannot afford to buy property in the town where they grew up.

Papa Chango wrote:
I agree with your assessment of the real estate situation lakeside. However, I don't like to see the use of the phrase investment opportunities. I don't think that a bunch of retired old farts from NOB should be trying to make money off of mexican real estate. Many local residents cannot afford to buy property in the town where they grew up.
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Hate to say so.....but I couldn't begin to afford to buy the house I grew up in, and it wasn't a mansion, so it's not surprising if Mexicans can't, either. Inflation happens.
If there is a massive downturn in the value of local properties, I'll wager that Tapatios will be right here to snap up the bargains, only slightly ahead of people from NOB whose guiding principle in life is "make a profit".

gringal wrote:
If there is a massive downturn in the value of local properties, I'll wager that Tapatios will be right here to snap up the bargains, only slightly ahead of people from NOB whose guiding principle in life is "make a profit".

Which, believe you me, will only make the current problems worse.

jackak10 wrote:

gringal wrote:
If there is a massive downturn in the value of local properties, I'll wager that Tapatios will be right here to snap up the bargains, only slightly ahead of people from NOB whose guiding principle in life is "make a profit".

Which, believe you me, will only make the current problems worse.

Why do you say that?

The above had both my quote and another added to the bottom........not mine...about making the current situation worse.
You need an answer from jackack10.

Personally, I can't see why the bargain hunting would worsen the crime problem.

It was Baron Rothschild who said "The time to buy is when there’s blood in the streets.”

From what I can read, there is blood but not enough. If there was the prices would drop like a stone.

Of course, that is for the locals to decide.

NoCanDo wrote:It was Baron Rothschild who said "The time to buy is when there’s blood in the streets.”
From what I can read, there is blood but not enough. If there was the prices would drop like a stone.
Of course, that is for the locals to decide.

By all means, let´s survive and prosper by emulating war profiteers. Let´s dine on foie gras while the poor dine on cat. An inspiring message NoCanDo. The prices for a flat in Berlin in 1944 offered by the locals were very attractive.

I don't think the tapatios will be swarming in here either. They read the same news as us, their own city is also being hit and the Mexican economy, while holding it's own, is no screaming hell right now. I imagine if things don't improve in Guadalajara there will be a decline in investment and business there.

The Rothschilds were early journalists and made their money starting false rumors during the Napoleonic wars and manipulating various stock exchanges, nothing to do with realestate anyways.