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Excellent reply Kimyoa economics 101. Let’s say for arguements sake say 25% of all the land ends up with foriegn owners and occupancy. Won’t these same foriegn occupants now have to pay taxes, insurance, goods, services and so on, thus adding to the local economy. If it becomes that these foriegn investors buy the land develope the land and resell this land back to Ticos at inflated prices and take the profits out of Costa Rica that the country will truly suffer. I don’t see that happening, I see the money staying in country along with greater stimulation to the country’s overall economy. I hope I am correct with my view that we new residents are good for Costa Rica, the Tico people and our own futures.
Scott
Some may say we are living in a Global economy and others will say trouble is on the horizon for foreign investors or foreigners in general and still others will say Costa Rica needs our foreign money.
This may be a beginning of Tico Nationalism where political and legal changes will be coming. I don’t really know what it means other than to say this gentleman sees what is and has happened to his country.
The truth is it is happening all over the world. I remember when Rockerfeller Center was sold to investors from Japan. I remember the American outcry that our country is being taken over by foreigners. America has since accepted all the foreign investment and ownership of much of our property. The ownership of many of the luxury condos in South Beach is titled to European elite.
I believe after given this more thought that some Tico’s sold their land and made more money selling it to foreign investors than they would have reselling it to Ticos and bought different property while banking their profit. I believe that most of the Ticos that did this already had greater wealth than the average Tico.
So it’s the same old story the rich get richer, the poor stay poor and the middleclass can’t afford to buy a decent home in a decent area therfore they disappear.
Politicians lose touch with what the little person wants and needs while filling their pockets with graft. Different place same ole story. Yet how many of these new major developements are owned by Costa Rican developers who are getting the most money for their investment and hard work.
As you can see by my response there is a lot of ambiguity. This is not a simple issue and the response or understanding will differ by who you ask.
Edited on Jan 01, 2007 18:27
Edited on Jan 01, 2007 18:30
Thank you all for your response. I would like to let Maravilla know that I didn’t read about Costa Rica crime or potential political issues in an American newspaper. I read the front page of amcostarica on December 29th. After reading the article I wrote the editor a letter similar to my posting. The following is his response below. I then decided to post my concern on here to get our fellow reader’s and poster’s response in hopes of understanding your feelings. I am well aware of the political climate in the US and also well aware of the real estate market and the differences in the market depending on where you purchase in the US. I am not aware of the real estate market in Costa Rica or the risks involved in investing there. Thus my real concerns with investing my life savings. Prior to reading that article and reading the editor’s response to my letter I was convinced that the central valley is where I want to spend the twilight of my life. I doubt if I will change my mind based on this one article in fact I am sure I won’t.
Thank you for your letter, Mr. Schindler
You are sort of asking us to predict the future. I think I did that somewhat in the Page One story of Friday.
However, that is about as far as we are prepared to go. We are pretty good at telling what happened and suggesting what may happen. But we are failures at what WILL happen.
I will say that your assessment of the crime problem is probably wrong.
The influence of drugs has turned many people to crime and violent crime at that. The courts cannot handle it. We only write about crime affecting Gringos.For a daily assessment, look to Diaro Extra
Regards,
Jay Brodell
editor
A.M. Costa Rica
editor@amcostarica.com
http://www.amcostarica.com
