South American Real Estate News
/ Category / Argentina’s mortgage bust

Argentina has the World’s Worst Currency: Shattering Home Buyers’ Dreams

Homes in Argentina are priced in U.S. dollars even though buyers can only take out mortgages in pesos, the world’s worst performing currency against the greenback. And that’s only where the pain begins. Argentina’s once thriving housing market — an example of its pro-business turnaround under President Mauricio Macri — has fallen victim to both the peso’s 50 percent plunge this year and soaring interest rates which exposed a convoluted property-buying process. Decades of economic booms and…