Posted on 06/26/2008 1:55:12 PM PDT by blam
Mexicans urged to reclaim a piece of Texas
By Tom Leonard
Last Updated: 9:11PM BST 26/06/2008
Mexicans are being encouraged to reclaim a piece of Texas, more than 150 years after they lost the Lone Star state to the United States. Texan estate agents are heading south of the border to drum up the interest in buying cut-price land and property in the foreclosure-hit state.
Thanks to a rising Mexican peso and an economy which is growing faster than that of the US, a country that has previously been looked on by America as a source of cheap labour is now seen as a potential source of rich investors.
A "Texas for Sale" sign and cowgirl-clad models greeted visitors to a recent property fair in Monterrey, Mexico, at which hundreds of Mexicans looked over lists of potential investment opportunities.
Virgilio Garza, a Monterrey developer, said he and his partners were considering investing $8 million in buying up foreclosed homes in Texas.
He told Bloomberg: "Texas is like our home. We believe there can be some opportunities."
Marco Ramirez, a Texas estate agent, said that residents of Monterrey, which is 150 miles from the Texas border, were his best hope of buying the 120 foreclosed properties on his books.
"Many of these people have children who are studying in the US. They've been renting or leasing and now it's a great time to buy."
America annexed Texas in 1845 after Texans gained independence from Mexico nine years earlier following the Battle of the Alamo.
(Excerpt) Read more at telegraph.co.uk ...
Time to start paying American state and federal taxes.
There, I fixed it.
“America annexed Texas in 1845 after Texans gained independence from Mexico nine years earlier following the Battle of the Alamo.”
Battle of San Jacinto, actually.
No harm no foul. One of the major reason for property values going up was strength of Euro against Dollar. Especially in high-end properties, they are STILL driving the price up.
I would love to see more of these investors come in here.
10 MILLIION AMERICANS RIGHT NOW ARE UNDER-WATER AS FAR AS VALUE OF THEIR HOME GOES.
These are NOT subprime guys, but folks who work hard and have been paying their mortgage on time and are now holding mortgages not worth the paper they were written.
Continued collapse in housing market would result in huge disaster, especially now that Americans are accustomed to spending money taken out of equity built in their house. For many, HOUSE is the retirement plan.
In other words, HOUSING market needs to be turned around and if we can bring in investors with REAL money, without printing more dollars and diluting it further, sooner we can get it out of this mess.
C’mon Amigos! Great Opportunity! Ariba! Andle!
Texan estate agents are heading south of the border to drum up the interest in buying cut-price land and property in the foreclosure-hit state.
I don't take kindly to this idea.
I would suggest to start with small incriments.
One other stipulation: the pieces should be "returned" at no less than 1200 feet per second.
I don’t have a problem with this.
These Mexican nationals are investing their money in America, and doing so legally.
People from over a hundred countries having been buying second homes, and businesses, in the U.S. for many years.
The influx of these investors is good for the country and our economy; it’s not an invasion.
This is quite different from the issue of illegal immigration, which is a HUGE problem.
Whyever would Mexicans want to buy property in Texas when right now there's no resistance against millions of them effectively stealing it and other parts of the United States?
Yep nothing wrong with Mexicans buying property in the US. THere would much wrong with Mexico claiming US territory. The author tries to stir up trouble with the word reclaim.
You're from Russia! Right, comrade? (Russian mafia?) That would explain your inability to use articles correctly.
Yeah, but aren't Americans are restricted on what properties they can own in Mexico?
I feel sorry for you.
Yep. 50 kilometers from the coastline and about 100 kilometers from the border.
So what if I was indeed from Russia?
You still hate and fear Russians?
Cold War is not over for you is it? ROTFLMAO!
Exactly, get it right! Remember Goliad!
I don’t know about Mexican restriction but we Americans are USUALLY smart enough not to cut off our noses to spite our faces, environmentalists excepted.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.