Mexican President Claudia Sheinbaum has launched a comprehensive housing initiative to address the country’s housing deficit by building a million homes and offering zero-interest mortgages.
The program, aimed at supporting vulnerable groups, focuses on female-led households, young people, Indigenous communities and senior citizens. The announcement is a fulfillment of Sheinbaum’s campaign promise to create affordable housing and promote equitable urban development.
Maybe. A million houses only puts a small dent in things. Who is making these million houses?
Also, will there be something in place to prevent everyone from just charging a lot more for houses? At 5%apr you may only be able to afford a 150,000 home, but at 0% they can charge you 400,000 for it.
According to the article the government is building them, selling them, and providing subsidized loans for them.
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That doesn’t answer the question I had. Whenever prices of expensive things get subsidized, it makes the prices go up. Prices are based on how much a company thinks it can get for something from the people buying. If a car is selling for $40k and then it gets subsidized to give a buyer $20k off, that car quickly turns into a $55k car and the company just profits more.
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