The President’s goal is to maintain the real estate bubble and the economy hot hot hot in 2012…


In the first 20 days of thisyear, state-owned bank Caixa Economica (controlled by political party PMDB)have already lent R$4.5B for the real estate sector, a 75% increase whencompared with last year.  The bank,which lent R$80 billion in 2011 (see the chart) expects to “pump the volume” toR$100 billion in 2012, being half of it aimed at the low-income housing “Minha CasaMinha Vida” (MCMV). The MCMV project has created 460,000 units in 2011 andexpects to build another 600,000 in 2012. The end goal is to build 2 million units by 2014…
Share →