Despite housing crunch, boomers still buying in Mexico

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The baby boomer generation continues to drive the search for second homes, not just in the United States but in Mexico and throughout Latin America as well. According to a new survey from the National Association of Realtors, vacation- and investment-home sales declined with the overall market in 2007, but still accounted for 33 percent of all existing- and new-home sales. Boomers, born between 1946 and 1964, number approximately 77.8 million people in the United States alone. Many of them are returning to Mexico, rediscovering their Spring Break haunts, and charting a way to buy and vacation now and retire later in the sun. Every year, they are being joined by more and more Canadians, Europeans and Asians -- many of whom place a premium on their return on enjoyment. Sales to Americans have slowed in Mexico -- mirroring a pattern in the United States -- yet many of the "fly-in" destinations are experiencing steady sales, thanks mostly to the international boo...