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Brazil's House Party

Cramer saved his best Brazil pick for last, highlighting the homebuilder Gafisa on Friday’s Mad Money a play on a “money lending revolution” in the Latin American country.

Brazil’s red-hot growth coupled with a stable economy has vaulted the South American country to the top of the list of best places to invest, as far as Cramer is concerned. But perhaps more importantly for Gafisa , the country passed a new law that makes it easy for banks to repossess homes of buyers who have defaulted on their loans.

In the past, it would take up to eight years to seize property and consequently led to banks tightening their lending practices. But now the law says banks can seize property in under a year, and consequently these banks are now much more willing to lend, which has led to Brazil’s booming housing market (the total number of mortgages issued in Brazil grew by 80% last year).

In addition to Brazil’s economic growth that led to poor and middle class Brazilians buying homes for the first time, Gafisa’s valuation is really the nail in the coffin. The company is expected grow its earnings by – get this – 203% in 2008 compared to last year and it’s expected to grow revenues by a substantial 53%. That doesn’t happen on the strength of the economy alone.

The bottom line is that Gafisa is an unbelievably cheap play on one of the best secular trends in one of the strongest global economies, according to Cramer. Who wouldn’t want a piece of that?

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  • Jim Cramer

    Jim Cramer is host of CNBC's "Mad Money" and co-anchor of the 9 a.m. ET hour of CNBC's "Squawk on the Street."

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