How Does the Death of bin Laden Affect Our Local Economy?

by Enrique (Henry) Saldana

While my wife and I were watching TV that Sunday night, the breaking news of the killing of Osama bin Laden by US Navy Seals was being broadcast. Remembering that I was at my Mortgage Broker's Class when the September 11 tragedy occurred and the reaction on everyone there and all over the country thereafter, made me and my wife feel very relieved to hear that the head terrorist who had ordered the attack was no longer a threat to anyone in this world, any longer (NO MÁS).

I do not want to speculate on what is going to happen next in terms of international terrorism, nor am I interested in getting wrapped up in the political landscape of the USA in the immediate future. I however would like to say what immediate effect this historic event might have on our local economy.

It is a well-known fact that, even though we do have a big influx of Canadian, European, South and Central American, as well as Mexican National buyers in our area, the bulk of the sales in terms of second homes as an investment property, generally speaking, comes from Americans. Therefore there is importance of what immediate effects the killing of Osama bin Laden will have on the US Economy.

Well, there are several economic indexes that are important in every economy that need to be considered in order to determine whether it is a strong or a weak economy. One important factor with a high coefficient of effect in the US economy is Consumer Confidence. And with consumer confidence comes consumer spending.

Here are some of the most immediate reactions we are seeing as a result of this major event:

Bin Laden is Dead: US Stocks Rise (click to read article)
The death of Osama bin Laden, the most wanted man of our times, is met with joyous response in the U.S. More specifically, however, the dollar advances, stocks rise, and the price of oil slides, placing a slew of positive responses to the accomplishment of a major goal.

A Mexican economics analyst in one of the Me