Hi Maarten,
1. I moved to Spain for reasons which are none of your business.
2. All the OECD projections for Brazil look pretty good for next year, and they don't work for the Brazilian government.
3. The housing market still seems to be going up, albeit at a slower pace, which must really upset you since you have been saying that it was going to crash for the last year or two.
Regards,
Rob
This is exactly what the OECD say:
The economy has lost its earlier momentum, even though inflation remains stubbornly above the central bank’s target mid-point of 4.5%. Tighter monetary policy, softer external demand and policy uncertainties due to the presidential election are likely to weigh on activity during 2014. In 2015, GDP growth is projected to rise somewhat, with persistent supply constraints, including a tight labour market, and the need for continued tight macroeconomic policies holding back domestic demand.
The central bank has appropriately raised its policy rate to reduce inflation. Keeping inflation expectations anchored will require firm monetary policy action and containing officially directed credit volumes. The planned tightening of fiscal policy in 2014 needs to be implemented. With slow productivity growth, disinflation will have costs in terms of growth and unemployment, but delaying policy action would only raise those costs. Faster increase in infrastructure investment, lower trade barriers and tax reform are all needed to raise potential growth.
Do you really think that it sounds good? Why do you insist on spouting out biased, incorrect, empty information? Do you own a great deal of property here? Do you live here? I have lived here for over 20 years and own my fair share of property in Brazil. Why would I possibly be upset if the housing market was booming? And yes I have tried to give fair and impartial information to people who do not really know the situation in Brazil. The market is falling and will continue to fall further, that unfortunately is fact. I do not sell beachside property to foreigners so I have no possible motive to change the facts. I am amazed at how someone who does not live in Brazil, can believe that he is the only one who's right.Some of the largest construction companies in Brazil, such as MRV, Rossi, Brookfield,and Gafisa who are all listed on the stock market are all in financial difficulties. Have at look at the stock prices which are at all time lows. Imagine these jerry builders in the North East who are looking for easy pickings!
Regards Mineiro.