While inflation soars and the real estate market remains unaffordable for thousands of Americans, with the highest mortgage rates in years, many are raise the idea of moving to Mexico, the neighboring country to the south where prices are much lower.
According to the Los Angeles Almanac, the average cost of a house in Los Angeles County is more than $860, dollars, and rent isn’t much more affordable.
Mexican real estate experts and homeowners confirmed that more Americans are picking up and moving south of the border to meet the cost of living.
Cases of Americans moving near the border, on the Mexican side, have begun to be more and more frequent due to the huge difference in the cost of living between the two countries.
Numbeo, the cost of living database largest city in the world, helps people calculate the difference in costs between various cities, points out that a one-bedroom apartment in San Diego costs $2,100 dollars per month to rent. In Tijuana, Mexico, a one-bedroom apartment of the same size rents for 617 per month.
Condominium complexes, such as “La Jolla Excellence” in Rosarito, Baja California, just south of Tijuana, advertise directly to Americans as an option .
Only 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”.
The website also offers a blog about the difference in the cost of living in Mexico compared to the 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.”
A native of Nebraska, Beck and her husband built a house in this Mexican city which is 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 had its effects felt in Mexico. Fermín Kim King, president of the Tijuana real estate association, points out that the cost of housing in the city is rising as more and more more Americans migrate there to live.
Said low housing prices and middle income has risen by as much as 30% since the start of the covid-pandemic 19.
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