May 1, 2006
Millions of Mexican families like the Elizaldes have bought homes in recent years.Growing up outside Mexico City, under the same roof as her mother, uncles and grandparents, Jenny Elizalde never imagined she'd be able to buy a house. "You get used to living a certain way," explains the 26-year-old secretary, "and I thought: If my mom wasn't able to buy a house, how will I?"
Last year, Elizalde became part of the consumer boom that's sweeping Mexico and other countries in Latin America. With the help of a loan from government-run housing fund Infonavit, Elizalde bought a two-bedroom, $30,000 house in the Mexico City suburb of Coacalco. And with some of the cash from the loan, she
After years of steady economic growth in Latin America, rank-and-file consumers are finally in the driver's seat, and local companies stand to benefit.