3 years after housing implosion, Mexico risks another mess

Bloomberg – Three years after Mexico’s housing crisis wiped out $4 billion in stocks and bonds, the industry risks suffering another downturn. That’s because President Enrique Pena Nieto has close to doubled subsidies for low-income housing in the past two years. Moody’s Investors Service analyst Francisco Vazquez said that has encouraged developers to go on a construction spree even as a sluggish economy saps demand for new homes.


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