Emerging South

 In South Africa, sellers are battling to recover their purchase prices as this article in businessday states.  Also the agents are struggling for survivel and unfailingly honest and willing to co-operate.The New York Times follows the tone of voice in an article today on South African real estate property:
"Research shows an estimated 40 percent fewer mortgages were issued in the past 12 months over the previous period the year before, according to Colliers International. Although list prices have not come down, sellers are accepting offers well below asking. Residential sales prices across all categories have shown their biggest decline in 15 years — except for the extreme upper levels of the market, Ms. Uys said."
A buyers market indeed.  Still, it's too early; wait until Q2 2009 to make your move.  Inflation in SA went up to 11,6% in June and youn can expect a prime rate hike to above 16% in June; that'll put the knife on the throat of a lot of people.

Meanwhile Alexei Barriouevo has an excellent article in the same New York Times on the Brazilian Economy:
Brazil, South America's largest economy, is finally poised to realize its long-anticipated potential as a global player, economists say, as the country rides its biggest economic expansion in three decades. That growth is being felt in nearly all parts of the economy, creating a new class of super rich even as people like Sousa lift themselves into an expanding middle class. Still, the momentum of its economic expansion is expected to last. As the United States and parts of Europe struggle with recession and the fallout from housing crises, Brazil's economy shows few of the vulnerabilities of other emerging powers. It has greatly diversified its industrial base, has massive potential to expand a booming agricultural sector into virgin fields and holds a tremendous pool of untapped natural resources. New oil discoveries will thrust Brazil into the ranks of the global oil powers within the next decade. Yet while exports of commodities like oil and agricultural goods have driven much of its recent growth, Brazil is less and less dependent on them, economists say, having the advantage of a huge domestic market — 185 million people — that has grown wealthier with the success of people like Sousa.

Two countries full of potential, if you make the right moves, at the right time; seldomly we've lived such interesting complex times.