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Mexico Goes All In on Housing: 1 Million New Homes, Zero-Interest Mortgages (www.newsweek.com)

submitted 6 months ago by [email protected] to c/[email protected]

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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.

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[–] [email protected] 1 points 6 months ago (2 children)

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.

[–] [email protected] 6 points 6 months ago

According to the article the government is building them, selling them, and providing subsidized loans for them.