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The CommStock Report: Thanks a lot Nancy

This report begins with the Chinese real estate bubble but let's start that discussion off in Brazil. It was generally the rule in Brazil that apartments were sold prior to construction with buyers making mortgage payments well before they were completed and the buyers had moved into them. My son, Matthew, bought an apartment there that way. Developers had a majority of the apartments sold before they broke ground. Developers used the money to build the apartments. In general, it worked.

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