Just as the U.S. emerges from the worst of its foreclosure crisis, Mexico’s is getting worse.
Home repossessions more than doubled last year to a record 43,853 from 2011, according to Infonavit, the state-backed lender responsible for about 70% of home loans in Mexico, as the past decade’s expansion in government-subsidized housing backfires and adds to a glut of empty homes weighing on the nation’s beleaguered builders.
http://business.financialpost.com/2013/04/02/mexico-the-latest-country-dealing-with-a-tidal-wave-of-foreclosures/
