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“I would say at least half are coming down from California,” Darrell Graham of Baja123 Real Estate Group told CNBC. “Suddenly the cost of taxes, the crime rates, the politics, all the things that people are unhappy with in California are coming down to Mexico.”
But there's a downside. Critics argue that the trend is making homes in Mexico unaffordable for Mexican citizens.
“Certain neighborhoods are now becoming too expensive for Mexican citizens to live in because most of the time people that are actually buying the property developments are being able to do so because they either make money in US dollars, or because they are working remotely,” said policy analyst at the Migration Policy institute Ariel Ruiz Soto.