The New York Times reports the economy in Puerto Rico is in bad shape. Last week two bond rating agencies - Standard & Poor's and Moody's - downgraded the Commonwealth's debt to junk bond status.
Violent crime, high prices and taxes, even higher unemployment, and low labor force participation rates are causal factors the Times identifies in a diaspora of the educated Puerto Rican middle class to the States. It's not a pretty picture.
In the DrsC's one visit to Puerto Rico we liked the island very much. If the Commonwealth government can get crime under control, the soft real estate market caused by middle class Puerto Ricans selling homes might lure mainland retirees to purchase reasonably priced property in PR.
