Word: expats
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Dates: during 2000-2009
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Crist took matters into his own hands. Touting the potential savings to Medicare, he founded Americans for Medicare in Mexico and began campaigning for reform. He travelled to Washington earlier this year to lobby Congress for expansion of Medicare to expats in Mexico. He visited about 85 congressional offices and says many members were open to the idea. Other expat groups like the Association of American Residents Overseas (AARO) joined in a letter-writing campaign. But as the health-care-reform battle grew larger and the bills more complex, Crist says supportive members of Congress told...
However, there are several forces set to join the battle that could change the power balance. Not only are more expats finding Mexico's climate and low costs welcoming, but investors are flocking to Mexico as a growth market for health care and senior living. "Many in the baby-boomer generation have seen their retirement savings disappear and it is not likely those funds will be built back up quickly," Crist says, explaining why Mexico, with its low costs, has become attractive. Seeing potential profits, he adds, "the developers and operators of senior housing, which runs the spectrum from independent...
Crist plans to hold town-hall meetings in 15 Mexican cities beginning January to pull the expat community together and launch a massive letter-writing campaign. He and other proponents are also hoping to engage another key group in the fight, the so-called returnees - Mexican dual citizens, or Mexican-born citizens with legal status in the U.S. who are Medicare-eligible after a lifetime of payroll contributions. In the U.S., proponents will focus on gaining the support of a key member of Congress to carry the banner. Warner says two from Texas are likely targets: Democratic U.S. Representative Eddie...
...high-end restaurants - among them top names that have relocated from the chic French Quarter. The influx wasn't planned. Skyrocketing French Quarter rents simply drove operators to West Lake in search of affordable premises. The fact that the area had a captive market of wealthy Vietnamese and expat residents was another lure, as was its location 10 minutes from downtown. (See Time.com/Travel for city guides, stories and advice...
...bubble has finally burst," says one American expat. Some people point to mixed blessings of the financial downturn. Rents, which were at unbearable highs last summer, have now plummeted at least 25%, and property prices are down as much as 50% since August of last year. But while there is some respite from the dawn-to-dusk hammering and drilling that came with Dubai's construction boom, some $8 billion in projects have now been either scrapped or put on hold. The city's notoriously brutal traffic jams have eased somewhat in recent weeks since the reported exodus of thousands...