March 17, 2017
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South Texas business leaders shared concerns about President Donald Trump’s policies at a recent forum, “Border Business is America’s Business,” which took place in Weslaco, TX. The forum was hosted by Congressmen Filemon Vela and Vicente Gonzalez at the Lower Rio Grande Valley Development Council.
Much of the fear was that policies could plunge the Rio Grande Valley. Joe Quiroga with Texas National Bank said that, based solely on the rhetoric so far, softness is already occurring on the banking side, “but, more importantly, in the real estate market.” The real estate market depends on investment capital from Mexican nationals, he went on to say.
Many of the speakers referenced the Sharyland Plantation in Mission, TX, where Mexican nationals built large homes. “But now we are seeing many ‘For Sale’ signs in those homes, in that area,” said Sue Ann Taubert, with Re/Max.
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