AP/ MIAMI HERALD/ Brasil's new government housing program, called "My Home, My Life," is the largest in Latin America and aims at cutting overcrowding in slums, by providing substantial home down payments. Since February, the government had 670,000 new-home applications and looks to have signed contracts for 1 million homes by the end of this year. "Brazil has not had any housing policy since the 1970s," said an official. "This program begins a new era in the country of eliminating our housing deficit." By using federal, state and municipal funds, "My Home, My Life" pays 100% of the cost of a home for families who earn a maximum of $870 a month - three times the minimum monthly wage of $290. The amount decreases as participants' salaries rise.
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