By Gabrielle Coppola -
President
Dilma Rousseff is using federal subsidies and state-bank loans to boost housing after economic expansion slowed for a second year in 2012 and mortgage growth declined. Home price gains are also decelerating after rising 58 percent since 2010.
Brazilian President Dilma Rousseff is pumping more money into the housing market even as interest rates remain at the lowest in Brazil's history, and annual inflation is running above the central bank's target for 29 months.
Brazilian President Dilma Rousseff is pumping more money into the housing market even as interest rates remain at the lowest in Brazil's history, and annual inflation is running above the central bank's target for 29 months.
“The market is trying to correct itself” and “the government is throwing more money at it to keep it expanding,”said Adolfo Sachsida, an economist in Brasilia at the Institute for Applied Economic Research, a federal government agency that evaluates public policy. “This market employs a lot of people and they want to keep it heated so employment doesn’t drop.”
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