How Criminal Gangs Are Stealing Homes in Mexico City
From Bloomberg.
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In Mexico City, housing theft happens on average 11 times a day, often when homeowners are on vacation or have died, leaving properties vacant. In many cases criminal gangs move in, claiming ownership in an effort to profit from a gentrification wave that’s boosted home prices.
Many such “dispossessions” can involve title fraud and even complicit public officials. Mexico City recorded 2,676 cases this year through August, according to public records, bringing the total over the past decade to nearly 41,000.
The sheer number of incidents lays bare two key problems for President Claudia Sheinbaum: security and the cost of living. While homicides have plunged under her watch, reports of extortion are at their highest in more than a decade. She also has made expanding access to affordable homes a national priority, yet nowhere is the challenge more stark than the capital, where protests frequently break out over evictions and rising foreign demand.
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#MexicoCity #Theft #Crime
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Many such “dispossessions” can involve title fraud and even complicit public officials. Mexico City recorded 2,676 cases this year through August, according to public records, bringing the total over the past decade to nearly 41,000.
The sheer number of incidents lays bare two key problems for President Claudia Sheinbaum: security and the cost of living. While homicides have plunged under her watch, reports of extortion are at their highest in more than a decade. She also has made expanding access to affordable homes a national priority, yet nowhere is the challenge more stark than the capital, where protests frequently break out over evictions and rising foreign demand.
Watch more short documentaries from Bloomberg Originals: https://www.youtube.com/playlist?list=PLqq4LnWs3olUDhww8NEcViirkrirzHp27
Visually compelling, access driven and character rich features born out of the Bloomberg newsroom, extended to documentary video.
#MexicoCity #Theft #Crime
--------
Like this video? Subscribe: http://www.youtube.com/Bloomberg?sub_confirmation=1
Get unlimited access to Bloomberg.com for just $1.99 your first month: https://www.bloomberg.com/subscriptions?in_source=YoutubeOriginals
Bloomberg Originals offers bold takes for curious minds on today’s biggest topics. Hosted by experts covering stories you haven’t seen and viewpoints you haven’t heard, you’ll discover cinematic, data-led shows that investigate the intersection of business and culture. Exploring every angle of climate change, technology, finance, sports and beyond, Bloomberg Originals is business as you’ve never seen it.
Subscribe for business news, but not as you've known it: exclusive interviews, fascinating profiles, data-driven analysis, and the latest in tech innovation from around the world.
Visit our partner channel Bloomberg News for global news and insight in an instant.
