On the Home Front
Sane macroeconomic policies and government planning have boosted real estate investment in Mexico. Other countries should follow its lead.
While demolition workers in Latin America's capitals labor hard
at replacing elegant fin de siècle buildings and fine
colonial quarters with glass-clad blocks, slums are appearing
in the region's megacities at an even faster rate. Millions of
Latin Americans still live in substandard housing, in
neighborhoods blighted by violent crime, disease and the
absence of public services.
|No Place Like Home: Millions
of Latin Americans live in slums.
The most recent data from the United Nations Economic
Commission for Latin America and the Caribbean (ECLAC) was
compiled in the mid-1990s and estimated that Latin America
needed to build 54 million housing units. The UN says Peru had
the worst housing shortage. About 45% of Peru's population
lived in sub-standard housing. Venezuela was close behind at
Mexico's government calculates that country has a shortfall
of 4.3 million homes. With a population of 103 million, Mexico
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