Brazil launches low-income housing program

Associated Press

BRASILIA, Brazil (AP) — Brazil says it will build 2 million low- and middle-income houses by the end of 2014.

President Dilma Rousseff launched the program Thursday and said the government plans to invest more than $78 billion in the effort.

The program is part two of the "My House, My Life" project introduced in 2009 to build 1 million houses.

Brazil has an estimated housing deficit of about 7 million units.

Of the homes to be built in the second phase, 1.2 million will go to families that earn up to $1,000 a month.

The remaining houses will be for families with monthly incomes of between $1,949 and $3,100.

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