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Brazil pumps $47.3 bln into housing market

Posted on 18 May 2011

Like China, Brazil continues to pump millions of dollars into affordable housing with another R$76.7 billion ($47.3 billion) packaged announced on Monday. The loan budget is good until 2014, the government’s official press office said.
The program getting the funding, called My House, My Life, began in 2009 under the administration of president Luiz Inacio Lula da Silva, but yesterday’s announcement of billions available in low-income housing development and mortgage loans continues that commitment under new president Dilma Rousseff……………………………………….Full Article: Source


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