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Staff Reports
 
Real estate purchase by international homebuyers brought $7.8 billion to the Texas economy, says a new report from Texas Realtors. From April 2018 to March 2019, Texas accounted for 10 percent of all homes purchased by international homebuyers in the United States, with 18,310 home sales out of 183,100 nationwide according to the Texas International Homebuyers Report from Texas Realtors. The U.S. saw a 31 percent decrease in the number of foreign buyer purchases compared to the last reporting period.
 
Texas ranked third in the nation for homes sold to international buyers, behind Florida and California, with the bulk of those buyers hailing from Mexico and India.  Of all homebuyers from Mexico, 28 percent purchased a home in Texas. The next closest state, California, had 10 percent of the total homebuyers from Mexico. Among buyers from India, 13 percent chose Texas — just behind first-place Florida, with 14 percent.

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With spring breaking, and wanderlust mounting, an invitation to Cuernavaca, Mexico, seemed the perfect antidote to the winter doldrums to which your sulky Fort Worth Friday correspondent has lately succumbed. As old as Mexico itself, Cuernavaca contains the oldest preserved colonial building in the Americas, the nearly 500-year-old Palacio de Cortés, built atop an earlier, demolished, Aztec structure. Fifty years ago, Cuernavaca was a sleepy little resort town of 35,000. Now at 350,000 souls, Cuernavaca is a big little place, with great shopping, frequent cultural events and even fewer reasons to return to the capital which, on a good day, is a short 45 minutes to the north.

Read the rest on SecondShelters.com!

Remember when the Wall Street Journal told us crime was so bad in Mexico that even the Mayor of Monterrey, Fernando Larrazabal had fled and re-located his family to the Dallas area? (I found out it was to Las Colinas, and y’all got mad at me. I also found out on a visit to La Paz, Mexico, in November that Sr. Larrazabal wanted to be closer to her family here in North Texas.)¬† Crime there is way out of control; the city is caught in a war between two drug cartels, the Gulf Cartel and the Zetas. A U.S. Federal ICE agent was recently murdered, and the violence could be spreading to the U.S.

I talked with my landscaper, who used to drive through Monterrey on the way home to see his parents in Mexico:  he told me he no longer drives through Mexico.

“It’s terrible,” he says. “My wife, she is afraid. They are killing people in Monterrey every day. EVERY day!”

It’s the drug cartels, he told me, and he blames the Mexican government for not wanting to accept any assistance from the U.S. There have been 350 killings in Monterrey this year, which is the third most populous city in Mexico with 3.7 million people. August 18 the body of the mayor of nearby Santiago,  Edelmiro Cavazos, was found on the outskirts of Monterrey, an industrial center with close U.S. business ties. Two doctoral students have been killed, guests at a Holiday Inn kidnapped, and the cartels killed two bodyguards right in front of a school. Many Americans and even some wealthier Mexican are out of there and ending up in Texas — so in a perverse way, this could be good for our property values.

I still recall the story of a rancher who was kidnapped and held hostage for over a year in a box, beaten, shot, barely fed, all to extort ransom money from his American-born wife. Guess where this happened: San Miguel D’Allende. On the show, the couple, who were both in real estate, said initially they were asked to keep quiet about the kidnapping for fear of the damage it would do the to real estate community.