Puerto Rico Economic Pulse ©

June 2004: The Housing Fever

Latest trends and perspectives of the housing market in Puerto Rico

Housing is one of the cornerstones of our economy. It is a sector that has gone unscathed during the recent economic slowdown, a sector that spurs construction, keeps the banks thriving, and fuels consumption through refinancing. A soft monetary policy has boosted mortgage loans as never before, and such a demand has pushed up housing prices in. In this issue, we review the latest trends in housing and the effects of the extremely low interest rates over this sector. Find out how housing prices have behaved and what the future might bring to housing and the overall economy.