13.06.2011 - Bubble trouble in Brazil
Property prices are skyrocketing in Brazil. The construction sector is booming. And the mortgage market is expanding rapidly. But there is a growing concern that all this is unsustainable. And imbalances in the economy an overvalued currency and high inflation are exacerbating the dangers of the looming credit and property bubble. The average asking prices of new apartments across the country soared by 24.7% in April 2011 from a year earlier, according to Exame Magazine (using data from Ibope Intelligence, the largest Brazilian market intelligence firm).............................................Full Article: Source
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