Chile’s market for luxury homes booming and immune to the global crisis

Tuesday, November 22nd 2011 - 03:58 UTC

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The market for luxury housing in Chile seems to be immune to the global crisis since there are families willing to disburse up to six million dollars to purchase the house or condo of their dream according to a report in Santiago’s El Mercurio. Read full article

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GeoffWard2
This seems no different from the rest of the places around the world where the rich live.
'Surplus' disposable income has always been put into bricks and mortar.
This just says that the rich today have surplus cash just like the rich of yesterday. . . . what it might also say is that people are anticipating more inflation and are putting their money into 'things'.
Nov 22nd, 2011 - 12:37 pm - Link - Report abuse 0
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ManRod
Geoff, I don't even consider this a big news at all. Not sure, if you have ever been in la Dehesa, Lo Barnachea, and other similar boroughs east of Santiago, but considering some of these mansions, 6 million is nothing out of this world.

PS: The picture above is funny, it just shows an upper middle income home. Nothing to do with the mentioned 6 mio cases.
Nov 22nd, 2011 - 01:16 pm - Link - Report abuse 0
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