"Latin Americans are more like Americans — culturally, they like to spend their money, even when they don’t have it!"
While many emerging markets are in various stages of housing bubbles, Brazil is one of the less talked about (except on here). The UK Telegraph penned “Swimming naked in Brazil’s bubbly waters ~ Telegraph $EWZ
- Rio property has risen 400%-700% over the last decade
- Knight Frank’s global survey shows that Brazil’s house prices rose 26% last year, leading the world by far
- "Prices are crazy," said Rio’s mayor. ‘A good slum is worth a four-bedroom house in Arizona – if you can prove ownership.’
- Dilma Rousseff was an urban guerrilla during the military dictatorship of the early 1970s ~ wild! Good to know.
- In Brazil, "exports to China have increased more than forty fold since 2000, mostly thanks to iron ore, soy and crude oil"
- "copper from Chile, silver from Peru and coffee from Colombia could all see lower demand from China if the weaker forecasts come true."
China’s land prices were up 800% over a decade, so the bubble could certainly grow bigger in advance of the Olympics; which not coincidentally, has coincided with tops of other booms.
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