Good time for Mexico’s real estate market
January 22, 2008
“It’s a time of hope,” claims Ana Laura Pulido, a real estate broker in Mexico. While its northern neighbor remains in the depths of a housing meltdown, the Mexican real estate market has been booming.
Mexico has long found its economy overly sensitive to the happenings in the United States, so to see the country’s real estate market thriving despite the turmoil in America is a very encouraging sign for our southern neighbor.
And don’t think that American investors haven’t started to notice this new trend.
According to Clark McKinley, the spokesman for the nation’s largest pension fund, the California Public Employees Retirement System, his fund sees greater returns for its money in Mexico and has already decided to pump over $300 million into Mexican real estate funds.