Ajijic Real Estate Market Today and Tommorow
With the stock markets around the world in a free fall the question is how can we make plans for the future?
Let me start by saying that those of us who were here after 911 know what a bad market looks like. We came back from that and we will come back from this. I pointed out in an earlier blog that the numbers of “baby boomers” set to retire in the next several years is staggering. You don’t have to be an economist to figure out if the current situation doesn’t around turn soon, a certain percentage of those people will be forced to continue working. That still leaves a goodly number of people retiring, but there will be fewer in the short term.
On the upside, people retiring on a fixed income have traditionally been attracted to this market when the peso is weak .Of course their buying power is increased when this happens and with our lower taxes and no need for heating or air conditioning this area still has a great deal of appeal.
I’m not trying to be Mary Poppins here. I know it’s going to be a tough year as people try to regroup and figure out exactly where they are at financially. My point is that nothing about this area has changed. It still offers the same advantages it always has and an investment in real estate here is still a sound one. This market has had it’s ups and downs over the last decade and a half but it doesn’t have the history of huge, dramatic swings that some others have had in the rest of North America.
In my experience I can’t think of anyone who bought a house, hung on to it for five years and didn’t make money on it. There might be an exception to this but I am unaware of it. If that has happened to you I would almost guarantee you should point your finger at your agent. They either didn’t have enough knowledge of the market or they weren’t looking out for anyone’s interest but their own. If that did happen to you I would love to hear about the circumstances and we’ll discuss it on this blog site.
As far as the upcoming election goes I don’t really have an opinion on who would have a more beneficial effect on this area. Since King Solomon isn’t running I think it’s a coin toss and I don’t think anyone would envy the man taking the job. If you watch the debates, it’s pretty clear neither of them want to address the problem right now and somehow put their foot in it so close to the election.
What I am trying to convey here is that if you are lucky enough to still be in a position to purchase a property here that I really believe you will be happy with your decision when the dust has settled. We still think our “puebla” offers a unique lifestyle that will stay in demand for a long time to come.
I would love to hear your thoughts so please let me know if I am way off track here. I think it would me to be a better agent if I know your feelings on the subject.