Mexico has pretty cheap housing costs, even accounting for their lower income.
Even Mexico City isn’t too expensive, I’d guess the percentage of people living in 1000sf+ homes they or their family own is higher than metro NYC or Boston.
The construction quality is iffy and a lot of people will die in the next big earthquake. People might have a 4000sf lot they use as a family compound that has 2 small complete houses and a third under very slow unpermitted construction.
The weather is very mild year round like SD, so you have a lot of semi-outdoor setups, like a tiled second kitchen that has a roof over it but no walls on two sides.