On the local level, we are primarily interested in the local real estate market, whether it is expanding or contracting, the forces driving such expansion, and the comparative relation to the national economy.
For example, the northern Pacific coast of Costa Rica is currently expanding in a manner reminiscent of Cancun, Mexico thirty years ago. As a play destination, the outlook there is very positive. Guadalajara, Mexico is another area currently expanding. A fairly secure major metropolitan area is very positive as a medical/work/play destination with Puerto Vallarta not far away.
In Texas, The Woodlands/Lake Conroe area continues to expand as a medical/work/play destination, although its development cycle is definitely more mature than Costa Rica. We have reports of individuals who commute weekly from this area to business destinations such as Mexico City, but who have seen the appreciation potential of comparatively cheaper Texas residential and resort properties for their main residence.