Well, it appears as though the effects of the mortgage crisis in the US which began in March, 2008 followed by the collapse of the stock market in October, 2008 are finally being felt in Puerto Vallarta. Thanks to the strong Canadian Dollar, tourist expenditures in Vallarta for goods and services, including retirement real estate, held up fairly well for most of 2008. However, during the September/October timeframe, the Canadian Dollar plunged by more than 20%, thus reducing the Canadian purchasing power accordingly. Consequently, both the Americans and Canadians are now hesitant to aggressively invest in anything, especially foreign retirement properties.
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