Dec 21, 2007 IBD has an interesting article and I shout out here for information sharing.
Not a while ago, Brazil mortgage interest rate is 20% and finance term is 10 years so that most mid-low class people are kicked out from RE market. Now the interest rate comes down to 8-10% and finance term extends to 30 years according to IBD so that many mid-low income class can afford buying one now. It seems to me that a RE boom comes and later on speculative action will follow.
The only brazilian HB listed in US is GFA.
Good luck. Additionally China has a new small scale home builder XIN filed IPO. I am looking to short it some time later :)
Those are only F.Y.I. Think independently.