We just came back from Mexico, and it is a booming economy. There are millions of desperate people there for sure, but the amount of wealth, raw, naked wealth is much more evident than it was when I used to go there a decade or more ago. I also want to make the distinction between real wealth, and those pockets of drug money that give a little glitz to some parts of the world. Mexico, after all, now has the richest man in the world.
What really sticks out is that there is a feeling of wealth. If you own property in Mexico you can ask whatever you want, because some one may just give you the money in cash.
All cash Real Estate transactions are popular all over the world as a way to hold that cash in what is considered a safe investment. If you rent the property out here in the United States you can get a 6% return. In other places you can own the property, and just hold it while it goes up in price. It used to be that way here until our inflation rate stagnated. In Mexico there is more room for inflation.
It’s all a game, like currency trading, but much slower, and by all bets, they hope, much safer.