How expensive is the cheapest house in Latin America?

“How expensive is the cheapest house in Latin America? The cheapest dwelling offered by the private sector in Latin America without any construction subsidies averaged $24,000 in 2010, and families needed 21 months of full income to pay for them, according to “Room for Development: Housing Markets in Latin America and the Caribbean”, the latest edition of the IDB´s flagship publication Development in the Americas.
The figure shows the average prices for the cheapest private-sector housing in large cities in Latin America. Caracas, Buenos Aires and Santiago are the region´s most expensive while La Paz, Managua and Guayaquil are the cheapest. Factoring in the level of income and the time that it would take a household to pay for the house, Buenos Aires, Caracas and Montevideo are the most expensive and Bogotá, Guadalajara and San José are the cheapest.”
+ FONT: here
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