Saturday, February 18, 2006

Off to a good start 

Much has been made of the Venezuelan government not having built a sufficient number of new housing units. Although what they do build has been of very high quality they have not met their goals of 100,000 units.

So far this year they are getting off to a much better start. According to Ultimas Noticias to date in 2006 9,600 new houses have been built. If this pace is accelerated just a bit they should meet their goals.

The Ultimas Noticias article also mentioned another key fact that is often overlooked in the discussion of housing. The Venezuelan government often buys houses in the private market to then give to low income families. Last year it bought and distributed 7,000 such houses which are not counted in the numbers of new government housing. So far in 2006 500 such homes have been distributed.

Additionally, the government has a large program of grants to people to subsidize their housing purchases. The grants are $8,000 per family and so far this year 3,500 such grants have been giving out. Clearly the governments efforts to help people solve their housing prolems have gotten off to a quick start.


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