Next Hot Spot? How About . . . Nicaragua
Pour me somethin’ tall and strong
Make it a hurricane before I go insane
It’s only half past twelve but I don’t care
It’s 5 o’clock somewhere
–Jimmy Buffett, “It’s 5 o’clock Somewhere” lyrics
It’s always 5 o’clock somewhere — and somewhere, it’s a bull market for real estate development.
No, I’m not talking about China.
Coincidence or not, I’ve run into three local Realtor/developer types in the last two weeks who are involved in projects in . . . Mexico, Costa Rica, and — would you believe — Nicaragua(!).
Horace Greeley famously said, “Go West, young man!”
Maybe the equivalent now for real estate development is, “go south . . . to emerging markets in Latin America.”
(And no, as an investor, I wouldn’t sink your retirement money into one of these projects, just yet.)