Bloomberg seems to also be under the mistaken belief that property in Brazil is a good idea:
"July 30 (Bloomberg) -- Advent International Corp. plans to purchase companies in industries including mortgage lending in Mexico, Argentina and Brazil for the biggest Latin American buyout fund.
The Boston-based private-equity firm will take stakes of as much as $150 million for its $1.3 billion fund raised last month, said Patrice Etlin, Advent's head of investments in Brazil. He favors mortgage firms in Brazil and Mexico, where growing middle classes are fueling demand for housing.
[...]
We understand that homebuilding and mortgage-related sectors have excellent growth potential.
Advent will dedicate half of the fund for acquisitions in Brazil, Etlin said. The firm has had a Sao Paulo office for 10 years.
Foreign investors are pouring money into Brazilian real estate, drawn by an increase in loan guarantees and household income as well as falling interest rates. In 2006, foreigners spent about $1.5 billion on property in the country, four times that a year earlier, according to Brazil's central bank."
I'm pretty sure they have done their market research too.
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