1.5M New Homes for Mexico

by | Dec 3, 2024 | Real Estate


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1.5M New Homes for Mexico

Welcome to the Real Estate Espresso Podcast, your morning shot at what’s new in the world of real estate investing. I’m your host, Victor Menasce.

On today’s show, we’re talking about a new housing initiative that was just launched in Mexico, by the newly elected president of Mexico. President Claudia Sheinbaum’s government has launched an ambitious program into building 1 million social housing units, improving a further 450,000 existing homes, and bringing an additional 1 million properties to the marketplace.

The six-year project, which aims to create jobs and boost the economy, represents one of the most significant public housing initiatives in recent Mexican history. The zero-interest mortgages under the program are aimed at supporting vulnerable groups – female led households, young people, indigenous communities, and senior citizens. The announcement’s a fulfillment of Sheinbaum’s campaign promise to create affordable housing, and to promote an equitable urban environment.

Now, the new program focuses on creating accessible, functional housing near residences, workplaces, near public services, and transportation. It includes a substantial financial commitment with the Mexican government, allocating about 30.8 billion US dollars to support the development especially in rural and underserved areas.

The housing strategy also comes at a time of shifting US-Mexico relations. Tensions over issues like migration and trade are likely to increase with the new White House. Local papers and analysts have pointed that Scheinbaum, who spoke with President Trump on Thursday, is probably going to take a much firmer stance on national issues that impact Mexico’s autonomy.

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