Latin America's Resilient Housing Market
As the US and Europe lower interest rates to try to revive their economies and calm financial markets, the most significant impact of the sub-prime mortgage crisis for Latin America may turn out to be inflation. Ironically, then, expanded access to mortgage lending in Latin America may end up protecting the region from the disaster that too-loose credit created in the US.
New York – As the consequences of the sub-prime mortgage meltdown in the United States spread through global markets, will one of the most positive trends in Latin America – the expansion of local credit markets, which has dramatically expanded access to homeownership throughout the region –be jeopardized?