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

submitted 1 week ago by Deceptichum@quokk.au to c/world@quokk.au

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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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[–] ColeSloth@discuss.tchncs.de 1 points 1 week ago (1 children)

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.

[–] kemsat@lemmy.world 1 points 1 week ago

The car example is kinda bad since dealers always markup the cars.

Anyway, it would still help to have a million more homes enter the market. The price is also partly determined by the availability of the product, so adding more supply should lower prices.