Nicholas Wallwork
Editor-in-Chief
Staff member
Premium Member
Indeed, the property industry in this Central American country has seen*it all before. It suffered its own mini real estate market collapse in the*late 1990s. At the time, the most common type of financing was adjustable*rate mortgages which were tied to skyrocketing inflation rates and as the*value of the Colombian peso declined and the cost of living increased, so,*too, did mortgage payments leaving many homeowners with properties worth*less than their loans and foreclosures became rampant.
