Mexican remittances hit by slow US construction

At first glance Mrs Guerrero’s changing fortunes – her income is roughly $300 (€209, £146) a month now compared with more than $1,000 about two years ago – would seem to have little to do with the ups and downs of the US housing market: she lives in a small community near Juventino Rosas, a market town about three hours north of Mexico City.

But her husband – and only source of income – works as a bricklayer in Naples, Florida, and the rapidly softening US market has meant considerably less work for him and a substantial cut in remittance flows for her.

“In the good days he could go to the beach on weekends and drink beer. Now he wants to come home but doesn’t even have the $300 he needs for the journey,” she says.”*

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