Exclusive outtakes from industry leaders
Audio – Of brick and mortar: Mexico’s housing sector booms
From swanky lofts in the capital to modest houses for families all across the country, Mexico’s home building industry had never seen such a bonanza before. Thanks to a government program to spread the reach of mortgages to low-income earners and banks granting 30-year loans for the middle class to buy houses, the building sector is not likely to ease its thriving pace soon.
Homex, one of Mexico’s largest homebuilders, plans to sell around 16 percent more homes in 2007 as it bets on the ongoing strength of the mortgage market, the company’s Chief Executive David Sanchez-Tembleque told Reuters Latin American Investment Summit.