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    BusinessMexico is increasingly attractive to Americans on the border: they want to...

    Mexico is increasingly attractive to Americans on the border: they want to move to avoid the high cost of living in the US.

    As inflation skyrockets and the housing market remains inaccessible to thousands of Americans, with highest mortgage rates in yearsmany consider moving to Mexico, the neighboring country to the south where prices are much lower.

    According to the Los Angeles Almanac, the median home cost in Los Angeles County is more than $860,000, and renting isn’t much more affordable.

    Mexican real estate experts and property owners confirmed that more Americans are picking up and moving south of the border to meet the cost of living.

    The cases of Americans moving near the border, on the Mexican side, have become more and more common due to the huge difference in the cost of living between the two countries.

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    Numbeo, the world’s largest cost-of-living database, helps people calculate the difference in costs between various cities, noting that a one-bedroom apartment in San Diego costs $2,597 per month to rent. In Tijuana, Mexico, a one-bedroom apartment of the same size rents for 617 per month.

    Condominium complexes, like “La Jolla Excellence” in Rosarito, Baja California, just south of Tijuana, advertise directly to Americans as an option.

    Just 24 miles south of the border, the complex offers luxury villas and condominiums with views and access to the beach. Promotional videos in English tell Americans that “you can make dreams come true.”

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    The website also offers a blog about the difference in the cost of living in Mexico compared to the US, trying to persuade Americans who are considering moving to do so.

    Megan Beck, an American who recently moved to Rosarito, Mexico, told Border Report that “she has become more Mexican than American these days.”

    Originally from Nebraska, Beck and her husband They built a house in this Mexican city which is located about 30 miles south of San Diego.

    “I have been able to build a house from scratch. I couldn’t afford that there. It was getting too complicated,” Beck said.

    However, the law of supply and demand has also made its effects felt in Mexico. Fermin Kim King, president of the Tijuana real estate association, points out that the cost of housing in the city is going up as more and more Americans migrate there to live.

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    He said the price of low- and middle-income housing has risen as much as 30% since the start of the covid-19 pandemic.

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    Source: La Opinion

    Awutar
    Awutar
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