Young people are moving to Mexico to offset the high cost of living in the US
On April 12th, Max Katz, President of Baja Real Estate Group, was interviewed by a reporter from ABC News 10 on a topic that’s caught the attention of the media and the public. That is the trend among young people from San Diego moving to Mexico to save money. The high prices of living and buying property in San Diego motivate many young workers, students, and professionals to move.
Katz, who specializes in properties in Rosarito and Ensenada, said he’d seen a growth in the younger demographic in the last couple of years. The Rosarito-Ensenada region has traditionally attracted retirees from California and around the US, a market that is still going strong. The cost of living in Mexico is 30-40% lower than in the US. The rising inflation rates in the US -7.5 to 8.5% so far this year- and the prohibitive housing costs of stateside properties mean there is no end in sight for the exodus.
Katz said the difference in home prices is massive. “You can get a waterfront home or condo in our area anywhere from 200 to 6 or 700 -would be a normal price range for our market- and that same property in San Diego would be in the millions for sure.”