Mexicans taking back Texas

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Mexicans taking back Texas

Postby Balam99 on Sat, Jun 28 2008, 1:35 AM

More than a century and a half after Mexico lost Texas to the U.S., Virgilio Garza wants a piece of it back.

A ``Texas for Sale'' sign and cowgirls in boots and white hats greeted Garza at the Convex center in Monterrey, Mexico, earlier this month. A Monterrey developer and investor, Garza was in search of foreclosed U.S. property to buy.

``Texas is like our home,'' said Garza, 45, who joined hundreds of Mexicans poring over lists of Texas properties at the four-day event. Garza, who owns manufacturing sites and other land in Mexico, said he and five partners may invest as much as $8 million in Texas. ``We believe there can be some opportunities.''

A rising peso and an economy growing faster than the U.S. have given some Mexicans the buying power to take advantage of the housing slump in Texas, which the U.S. annexed in 1845 after Texans gained independence from Mexico nine years earlier. A three-year war followed and ended with Mexico ceding about half its territory, including Arizona, Nevada and California, to the U.S. under an 1848 treaty.

http://www.bloomberg.com/apps/news?pid= ... UJZgGm4GUI
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Postby ur1nonly on Sat, Jun 28 2008, 4:07 AM

Garza........ yo soy Garza, thats my uncle!! JK LOL

i had no idea the peso was growing and is allowing people to take advantage of this. all i hear is the dollar keeps going down. $8 million is a lot to invest though
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Postby iPedro on Sat, Jun 28 2008, 8:26 PM

The valley get's bigger every time we head down there. Sadly, this makes 3,4,5 generation Tejanos pretty nervouse too...
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