Sales of retirement homes to retired foreigners declined between 60 and 70 percent last year, according to studies released by Colwell Banker. The market is expected to recover somewhat this year. The worldwide economic situation is blamed for the fall.
Consultants say that as many as two million pensioners in the United States might be lured to Mexico. Attractions are the climate and value. Home buyers would get more for their money, promoters insist. There are drawbacks, of course, starting with language, bureaucracy and concern that Mexico is not safe.
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Jimm Budd
Reporting from Mexico City
Member of the Society of American Travel Writers
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