Argentina's zombie mortgage market has a long road to revival

[MilHojas]

https://www.reuters.com/world/americas/with-buyers-wary-argentinas-zombie-mortgage-market-has-long-road-revival-2024-07-16/

In an attempt to tap into middle-class dreams of home ownership, there have been new mortgage launches this year. Local banks Banco Nacion and Banco Galicia pledged billions of dollars of mortgage loans, adding 4.5%-8% interest on top of an official inflation-linked index.

Archived version

 

[carride]

Apparently the Reuters reporter who chose that "zombie mortgage" term does not know what it means to its USA readers. There it has been in the news the past year as more creditors have revived mortgage debt that the house owner thought had been forgiven.

No one in Argentina calls them Zombie either, right?

https://www.npr.org/2024/05/10/1197959049/zombie-second-mortgages-homeowners-foreclosure

 

[nikad]

There has not been a proper mortgage market in Arg since the 90s. All of the people that got mortgages and bought property did it back then. It worked really well while it lasted and best of all it was affordable to lower middle and middle class.