Someone asked me the other day if I knew how many North American retirees lived abroad. Here’s the simple answer, but it’s wrong: Published accounts say it’s 5-6,000,000 expats, but that includes business people (but not military). As to narrowing it down to retirees, it’s just about impossible: retirees don’t always register with the American or Canadian consulates, as they are urged to do. And hitting on a number that includes full-time expats and excludes occasional visitors with a second home…that’s a moving target. Here’s one figure that seems to have some bones on it: Based on border statistics, some 20,000 Americans and Canadians are crossing into Mexico each month to establish homes there. That’s on top of the estimated 1,000,000 expats already in Mexico.
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Hi, this is your author and webmaster. As I post this, markets are down, and real estate prices have been dropping here in the U.S., Latin America as well as much of Europe. While the main message of our book is to Rent Before You Buy, or even Rent, Don’t Buy, these new conditions MAY make this an opportune time to buy something overseas. The dollar is stronger in Latin America, and the Mexico peso has weakened. In Europe, there is the unfortunate example of Spain, where prices of vacation homes have cratered. Unforunate for some, who may have purchased at the peak; possibly fortunate for some who think they can read the market and know when the bottom has been reached.