Why didn’t any politicians think of this solution? With that, the dollar and interest rates and material costs continue to fall. Returning Mexicans have a lot of knowledge and experience with building houses. This could be the start of a Mexican housing boom, with an estimated 6 million dwelling shortage.
Reference article: As U.S. falters, Mexican housing booms
As the US housing workers get sick of being unemployed, one idea is to migrate south of the border to find work. As the Mexican housing boom gets started, experienced American workers could be very successful working in Mexico. If the dollar continues to fall in value, earning wages in pesos will translate to more dollars. It will be like getting a little raise every day.
What about moving north to Canada? The dollar is also falling against their currency. Canada doesn’t have a booming housing market like Mexico, but it is very rich in minerals and natural resources. As the US recession grows, Canada will have to sell more of its resources to growing economies like China and India. At some point in the future, if the dollar continues to drop over the next few years, if just may become reasonable to consider. Especially if you live in the northern states and are use to the cold.