Oct 2, 2012 Financial Times Article: Brazilian Homebuilders
Lots of TV programming featuring "Flip this house", "vacation homes", "real estate whatever"...flippers capitulated a year or two after the burst. The same should happen in brazil. Housing is not an investment ( it's just a place to live) Brazilian flippers should capitulate to a consolidated industry working on economies of scale and compressed margins. Fewer players with pristine balance sheets will trade at wiser 20x.