December 2017

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Pablo Soria de Lachica – Discusses Impact of Mexico Earthquakes on Local Property Market

Mexico was struck by three earthquakes in the month of September, with the 7.1 magnitude earthquake that struck Mexico City on September 19 causing widespread damage to municipal infrastructure, in addition to over two hundred deaths. The capital is home to 27% of the country’s population and generates 17% of its national gross domestic product. As the city implements reconstruction plans, Pablo Soria de Lachica points to improved building codes since the 1980s as a key factor in the reduced number of casualties relative to the capital’s infamous 1985 quake, in which 10,000 people lost their lives. According to the LA Times, city officials reported the earthquake affected 7,649 properties, of which 321 buildings are now considered uninhabitable. Shortly after the disaster, the city announced a 3 billion pesos reconstruction plan, making financial aid and loans available to residents commensurate with degrees of damage. The destruction of property caused demand for housing in neighborhoods surrounding affected areas to rise by 50%. In…

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Pablo Soria de Lachica – Examines Prospects for Mexican Businesses in Earthquake-Affected Regions

In September of 2017, two separate earthquakes just weeks apart brought a great deal of destruction and casualties to Mexico City and the states of Morelos, Puebla, Oaxaca and Chiapas. The aftermath of these tragedies revealed a death toll that climbed well over 400, completely leveled over 60 buildings, and left thousands of other structures with significant damage. The effects will continue to linger in several ways for an extended amount of time, as these regions focus on recovery with not only their infrastructure and housing, but their respective business environments as well. Globally-renown businessman and foreign exchange expert Pablo Soria de Lachica discusses the financial prospects for the areas affected by these earthquakes, highlighting positive projections over the long term as they rebuild and move on. Shortly following the quakes throughout Mexico, the initial fallout was easy to see. Many businesses were total losses, while others sustained heavy damages that would prevent them from…