“Most people from Mexico likely own homes in Mexicoto go back to. Not real nice ones it is sure, but they own. It is only recently that Mexico started mortgages so no one would really own, but not many Mexicans are in that trap yet.”
You bring up an interesting point. Are Mexicans content to go back to Mexico now because, when they sell their American houses, they essentially become rich in Mexico? Take an average $125,000 American home. That’s a LOT of money in Mexico.
A lot of them have mortgages here and won’t leave with anything. Unless our country forgives their debt.
I do not think that the average Mexican who owns a home in the United States owns it outright. They are probably part of the subprime phenomenon. I have hear that the take out home equity loans then leave the country. The banks and mts companies sort of deserve that though.