The weaker peso is attracting more visitors this winter. They are enjoying our temperate weather and lower prices for food and lodging. The increased ¨snowbird¨ population is putting pressure on restaurants and hotels to hire more staff. In some cases, these businesses are offering higher wages for the next 3-4 months to entice dental and medical assistants and other young workers away from their jobs. If we have more condos being built in Zona Romantica, the concern about demand is still on the table.
We make choices every day. They need to be informed ones. President Kennedy said: “We choose to stay with the comfort of opinion rather than the discomfort of thought.” A recent discussion with a seller made me realize she needed to become aware of misunderstandings which could happen by her not understanding Mexican immigration and tax requirements. In this local real estate market, working nationals and foreigners should all be registered as doing a business and should pay taxes to Hacienda or the Mexican IRS. However, there are people who choose not to be registered and illegally earn income they do not report.