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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: Seeker of Truth who wrote (10323)	10/21/2006 11:42:46 AM
From: elmatador	Respond to of 217883

Shares `Too Expensive' Cyrela Brazil Realty SA was the first real estate company to sell shares to the public in Brazil in September 2005. Its shares have more than doubled from the offering price, compared with a 26 percent gain for the benchmark Bovespa stock index since the stock started trading. ``If you look in the short term, these shares are expensive,'' Augusto Lange, who manages about 750 million reais of assets for a high-yield fund at Neo Gestao de Recursos, said in an interview in Sao Paulo. ``Investors are buying them and betting that in five to 10 years Brazil will pass through a strong development of the real estate sector.'' Brazil's government said last month it would allow banks to deduct mortgage payments directly from borrowers' paychecks and offer mortgages with fixed interest rates in a bid to lower lending costs for homeowners. The expansion in housing credit, combined with financing for real estate developers and tax incentives, will help boost mortgage loans to 19 billion reais this year, Finance Minister Guido Mantega said in September. Better to buy lots.