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Gafisa S.A. Message Board

  • fox3actual fox3actual Jan 30, 2008 1:15 PM Flag

    bullish article on Dow Jones Newswire

    can't link to it because it's on Scottrade.

    Here's a couple quotes

    "Brazil Real Estate Industry Consolidates On Bullish View
    41 minutes ago - Dow Jones News
    By Rogerio Jelmayer Of DOW JONES NEWSWIRES

    SAO PAULO (Dow Jones)--After witnessing a wave of share offerings from 2005 through 2007, the Brazilian real estate industry is now bracing for a second phase, that of industry consolidation, amid a still bullish equity market."...

    "Major Brazilian real estate developers, including Cyrela Brazil Realty SA (CYRE3.BR), Gafisa SA (GFSA3.BR), Rossi Residencial SA (RSID3.BR) and Company SA (CPNY3.BR) have all partnered with local developers in recent months in an attempt to enter new markets across Brazil."...

    "Behind the real estate euphoria lie a couple of key factors, one of which is the decline in the benchmark Selic base interest rate, which has prompted an expansion in real estate investments all over the country."...

    "The other key factor is the fact that Brazilian financial institutions have virtually no exposure to U.S. subprime mortgage securities, nor have private Brazilian banks even started to securitize and sell mortgages."...

    " Current mortgage loans outstanding in Brazil are equal to approximately $24.5 billion, which represents 2.5% of gross domestic product.
    Noted Anbid's Resende, "We are far removed from anything like a subprime crisis. The market is still too small."
    But the relatively modest loan total means Brazil's mortgage industry has no where to go but up."...

    "Bullish prospects for the real estate industry, meanwhile, have prompted improved valuations for top Brazilian developers."

    -By Rogerio Jelmayer, Dow Jones Newswires; 55-11-3145-1480; rogerio.jelmayer@dowjones.com

 
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