If people in Puerto Rico earn so little, how do they pay their mortgages?

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yayi

Where in Puerto Rico?, you cannot compare San Juan with let's say Cabo Rojo or Juncos or Caguas. Real Estate depends on the region and location. Metropolitan area you will not find anything decent for under 75,000.

Maybe you are looking at high-end neighboorhoods in San Juan. Check in endi.com for the classified section. Real Estate in PR looks very similar to Florida in the early 90's and late 80's. Coast and beach is very expensive, Mountain and Rural is less expensive

Koji Kabuto

Puerto Rican's own their land, many have kept properties in the family since the Spaniards discover the new world. Even after the U.S. took possession of the territory, every Puerto Rican was given a piece of land to live on. On the other hand if you are moving to the San Juan Metropolitan Area, this area is a big tourist area and most of the money in the island is there, TV Stars, Radio Personalities, Singers, Actors, the Bacardi Family, foreigners with summer homes and every other rich citizen of the island has some kind of property on that area.

cuteboymom

My parents just purchased a nice house in Isabela, the house is only 3 years old, 2 br, 1 bath, huge kitchen & living room, dinning area, a separate apartment on the bottom floor and 1/2 acre of land, beautiful flat land for only $125K. Now like many of the other answers if you are looking in the metro area you will pay more and get less.

urbansurvivor

As one of the answer was that many Boricuas own the land they live in is true. As for the other answer that they just work and pay mortgages that is not true Boricuas arevery inventive and have many things to do ,outside of just work. If you want less expensive housing you must live outside the metro area. They do have some very good housing outside of San Juan area. And there is a company named MASSO who will build for you for less than a purchase of an already build home. If you don't mind commuting it is the best deal.

Bren

The same goes for living in Florida, but we pay for our lots. Most people in Florida have 2 job per persons.

lightingmcqueen93

yall should let a true puertoriquena answer this question my relatives in puerto rico are all rich and its true most of them own there land but some choose succesful careers and live great its there choice to live the way they do and if your so worried about it then dont move there plus its always about 100degrees or more

shinningstarofthecarribean

They work to Pay their bills..No quality time..no entretaiment...

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