| 31.03.2009 - Recession woes interrupt Brazil's housing boom |
| From Globalpropertyguide.com: Brazil's massive housing boom has stalled, through no fault of its own. Consumer demand is weakening and export commodity prices are falling, due to the global slowdown. Brazil's economy contracted 3.6% in Q4 2008 from the previous quarter. From 2006 to mid-2008, property developers in Brazil witnessed enormous increases in launches and sales. Strong lower and middle class residential property demand fuelled a construction boom.....Full Article: Source |