Industry News

U.S., Mexico form real estate agreement

Mexico has plans for millions of new homes

Home builders from the United States and Mexico have forged an agreement that is intended to open up more trade channels and improve the affordability and efficiency of the home-building process, the National Association of Home Builders announced today. Mexico has plans to build more than 1 million new homes for low-income and moderate-income households for each of the next three years, with an expected 4.5 percent annual growth rate in housing production, said Bobby Rayburn, president of the association. And President George W. Bush had announced a goal of increasing U.S. minority home ownership by 5.5 million families within the decade. "Mexico is a great place for NAHB members to explore their opportunities for bringing goods and services to the international forum. On the flip side of the coin, our colleagues from south of the border will have a chance to tap into the booming U.S. housing marketplace and all it has to offer. Any way you cut it, it's a win-win situation," Raybu...