Mexicans Investing in S.D., La Jolla
Mexicans invested at least $3 billion in bank accounts and housing in greater San Diego from 1976 through 1985, according to a study by researchers at the National Autonomous University of Mexico in Mexico City.
Most of the Mexican wealth is concentrated in La Jolla, where Mexicans have helped stimulate housing construction, according to results of the study published Monday in the daily newspaper El Universal in Mexico City.
The study was done by Valdemar de Murguia of the university’s Center for Mexican-U.S. Studies. Murguia is considered a specialist in tracking the wealth that has left Mexico in the past decade as affluent Mexicans seek safe, dollar-denominated investments.
Murguia said Mexicans accounted for 4.3% of the population of La Jolla in 1980. As the area’s population doubled in the next five years, the Mexican proportion rose to 25% to 30%, mostly in the areas of Windemere Court and Alta La Jolla Drive, Murguia said.