Spend, Spend, Spend

Dolan, Kerry A.
July 2008
Forbes Asia;7/21/2008, Vol. 4 Issue 13, p112
The article focuses on the economic development in Latin America. It is stated that the dollar amount of residential mortgages issued in Brazil increased since 2003, to $23.3 billion in 2007. The rise in demand from China for commodities such as iron ore, steel and petroleum also helped its development. It mentions that introduction of more-affordable mortgages in Mexico, coupled with lower interest rates, has fueled a boom in home building thought it still faces a deficit of 4.3 million homes.


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