my reaction to the bubble in brazil

House prices have soared in Brazil’s big cities as salaries have also grown, so mortgages have become easier to obtain, since Brazil was named as the host of the 2014 World Cup and the 2016 Olympic Games. In Rio de Janeiro, property prices have risen more than 250% in the past six years. Not only millions of homeowners in this hotspot, but also many foreign businesses moving there have benefitted from this bubble. On the other hand, other people struggle to pay their bills, and are bombarded with advertisements in many places trying to sell apartment blocks.

I know that economy in Brazil hasn’t been good. But people in other countries like me think that Brazil is now so hot in many ways, misunderstand that economy will be boosted up, but when I see it from a different viewpoint, I find that so many Brazilians are living under difficult conditions. If I lived in Brazil, I would think that the government must improve living conditions of poor people prior to constructing expensive and useless stadiums. Poor people usually have little to do with inflation, they can’ t cash in on this bubble because they don’t have jobs, money, much less a real estate from the beginning. The government should use money raised in these big events to help people as a solution.

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