Housing Boom Jumps The Mexican Border; A Global Housing Bubble?

American buyers -- usually from California -- are using equity in their US homes to buy vacation homes in southern half of the Baja Peninsula, causing the Baja housing market to sizzle.

"Buyers have been snapping up homes here in the southern half of the Baja Peninsula, usually in all-cash deals. Like Leach, most of the newcomers are Americans, many from California, leveraging the equity in their increasingly valuable U.S. homes.

Their purchases reflect a change in global real estate ownership: People no longer have to be super-rich to invest in homes in foreign locales. In fact, some economists are starting to worry whether places like Baja California, London and Canada's British Columbia are part of a global housing bubble driven by the same combustible mix that has fueled American home prices: low interest rates, flexible financing and sluggish stock markets that have sent investors looking for better money-making opportunities."

Full Story: Hot Housing Market Crosses the Border

Comments

building block set

NEW! Build the world you want to see

Irresistible block set for adults when placed on a coffee table or desk, and great fun for kids.
$25

Prepare for the AICP* Exam

Join the thousands of students who have utilized the Planetizen AICP* Exam Preparation Class to prepare for the American Planning Association's AICP* exam.
Starting at $245

Essential Readings in Urban Planning

Planning on taking the AICP* Exam? Register for Planetizen's AICP * Exam Preparation Course to save $25.
Currently on backorder
Red necktie with map of Boston

Tie one on to celebrate your city!

Choose from over 20 styles imprinted with detailed city or transit maps.
$44.95