As the 1980s began, Latin American countries saw prices of their exports plunge, interest rates skyrocket, and access to international capital being cut back severely. In this harsh new environment, the shortcomings of previous policies became even more apparent, and economic performance faltered.
The option of deferred-amortisation loans has been taken up more than most people had expected. Therefore the question is now being raised of whether there is a property-market bubble, and if there is, when the bubble will burst. Nobody can give a clear answer to that.