Housing Markets in Brazil: Recent Trends and Governmental Responses to the 2008 Crisis
AbstractIn accordance with global trends, the Brazilian formal housing market experienced huge growth from 2005 to October 2008. This growth might be explained by several factors: changes in the law regarding property rights issued by the Federal Government; changes in Central Bank regulation of the use of resources from the special housing finance system; a positive economic climate ensured by economic growth and a gradual decrease in interest rates. Another important issue is the fact that several big property companies have obtained fresh money on the stock market and developed strategies for broadening their market shares, by geographical dispersion and also by diversification of their portfolios, offering products for high-, middle- and low-income groups. As a reflection of the global crisis, some indicators show that the housing market has undergone change since October 2008: home sales as well as the shares of the companies that have opened their capital have been declining. Nevertheless, considering that the special system in Brazil for housing finance has not fully adopted the American model, that is, based on securitisation of mortgage lending, and also, in view of the fact that the Brazilian economy has not been so deeply affected by the global crisis, it seems that the housing market still has the potential to overcome the bad times. Moreover, in order to face the global crisis, the Brazilian government has proposed a new economic plan in an attempt to induce growth by subsidies for social housing that will be produced by private enterprise. This paper aims to present and discuss some specific aspects that could explain why the international crisis appears not to have had the same consequences for the housing market in Brazil as those observed in other countries.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoArticle provided by Taylor & Francis Journals in its journal International Journal of Housing Policy.
Volume (Year): 10 (2010)
Issue (Month): 2 ()
Contact details of provider:
Web page: http://www.tandfonline.com/REUJ20
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Christopher Gaffney, 2013. "Between Discourse and Reality: The Un-Sustainability of Mega-Event Planning," Sustainability, MDPI, Open Access Journal, vol. 5(9), pages 3926-3940, September.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Michael McNulty).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.