The event took place in San Salvador on the 30th of June and 1st of July of 2008.
The event started late because the President of El Salvador had to install a new Minister of Economy as we are now at 1 year of ending the actual 5 year presidential period and there are already changes that reflect the end of this Goverment....The president looked tired and seems as he needs some air(Monday morning). President Tony Saca talked for a while of the National Housing Policy and about the last housing census made last year (las one was made on 992) that has given more real data about the housing situation in El Salvador. He made a reflection about the "social function" of the Fondo Social para la Vivienda, the govermental financial institution which has been questioned by many people (a lot of opinions say that that the govermental institution Fondo Social para la Vivienda has lost it´s "social function" beeing it the most important financial institution that provides mortgages for the poor). The President stated that 9 of 10 loans have been given to people that earn 1 to 10 "salarios minimos"(1 to 10 minimum wages). Actually the minimum wage for commerce and services in El Salvador is of $158.40 per month, for the industrial sector is of $154.80 and for the agricultural sector is of $74.05 per month. The minimum wage tariff is reviewed every 3 years. Our country President said that the Social Housing Fund FSV had given 9 of 10 loans to people that earned from $158.40 a month to $1584.00 a month. The President said that in the last 4 years, 30 thousand workers had been benefited by his goverment through the Social Housing Fund (Fondo Social para la Vivienda FSV), and he said that they still have another $70 million dollars to invest in the next year (his presidential period ends in one year). He also spread the news about his visit to Mexico (Villahermosa) were he met with Mexican President Felipe Calderon were they changed the name of the "PLAN PUEBLA PANAMA" to "PROYECTO MESOAMERICA" were they asigned $33 million dollars to the Central American Bank of Economic Integration CABEI (Banco Centroamericano de Integracion Economica BCIE) and this money wll be used to build 50,000 houses in Central America.
My impression was that there were a lot of empty seats in the Forum and that this Goverment has made little, and still don´t know if they "could have done more" in regards to housing or they have done "what they could do with what they have". Goverment is going to change, so it is necessary to know what ARENA´s presidential candidate Rodrigo Avila and FMLN Presidential candidate Mauricio Funes are planning to do in the next 5 year presidential period in respect to housing. We have heard that Mauricio Funes is to build houses with a Venezuelan Bank money. True?False? We don´t yet know. The Forum was stated as a unique opportunity as all "actors" were present but my feeling is that all "pro-goverment" actors were present and the "left hand" actors of the housing sector were not represented (maybe most of the NGO´s and small financial institutions). In the Forum, 5 housing institutions were present. An interesting comment I have is that in all the whole forum I did not hear a word about long term financing for development of projects which I think is how most succesfull developers have beaten up their competition that has depended on 3 year loans to build their projects. People in the forum had various opinions about what is a house of "social interest" or what is "popular housing" and by law the Instituto Libertad y Progreso, which is in charge of certifying which housing projects are classified as of "social interest" states that "social interest" projects are those of houses or units of $15,000 dollars. The Centro Nacional de Registro of CNR, or National Registry Center were all property is registered, states that a house of "social interest" is that of a price of $28,571.43. This is important because of tax exemptions in transactions for the buyer and for the developer. The President of El Salvador also informed that the last census made last year states that there are 315,000 homes with cualitative deficit (they need floor, for example), and there is a cuantitative deficit of 44,383 houses. The formal sector or workers that have social security are 666,477 in all El Salvador and 70.9% of them earn up to 2.5 minimum wages. This is important because there is a data base of this people.
What is the situation of the loan portfolio of the Salvadorean Financial System? (includes only supervised entities. There could be one or two small but significant financial companies not supervised by goverment like "La Hipotecaria" and other builders as "Salazar Romero" which provide loans directly to clients)
martes, 1 de julio de 2008
jueves, 26 de junio de 2008
ABOUT FONDO SOCIAL PARA LA VIVIENDA/SOCIAL HOUSING FUND EL SALVADOR
Fondo Social para la vivienda is supposed to be the biggest financial institution in respect to it´s market share of the mortgage market (29%). The FSV can be seen from many perspectives, one of which looks at it as a govermental financial institution that lost it´s objective of providing mortgages to the poor when it started to fund itself from the capital markets that forces the FSV to function as any other financial institution competing in the market and that needs risk ratings to obtain funds and function under a business perspective rather than a social perspective. The good side is that with this way of managing the fund, there is less risk of using it for populistic purposes that could result in it´s bankruptcy.
Even thou the institution functions financially independantly from goverment, investors of capital in the fund know that it has backing of goverment in case things go wrong. My personal opinion is that even thou the fund is managed as a business and by goverment, it´s investors, that are mainly bank conglomerates through pension funds, could have some sort of influence in the fsv as their money is the money that keeps the funds running. We should analyze the funds capital structure in the next paragraphs.
Loans in default and real estate owned of the FSV can reflect how vulnerable low income buyers are and also the bad quality of houses, services and neighborhoods in which most of the abandoned houses are located. This could lead us to analyze why people can´t buy more houses in our economic system and why people that abandon the houses they bought can´t keep paying them or why they don´t want to keep paying them.
It has been a positive sign from this goverment that before it, only loans up to $30,000 could be financed by the fund and now this has been expanded to houses up to $50,000. It is clear that this is very convenient to access votes of population that are beeing benefited by this measure and this could also help diversify risk in buyers that have more stability but could distract from the problem that less favored people have in obtaining and paying loans to buy houses.
Pension Funds are not obliged by law anymore to invest in the FSV so the institution needs to access different investor. 22.1% where loans in default to December of 2007, and local Banks have a 2.0% rate, which indicates that even thou this credits in default are covered by reserves, the FSV has a problem wih loans in default. Another interesting data is that 58.4% of Class A loans is serving as guarantee for emissions in the stock market. To December 2007 the FSV has
27,659 foreclosed houses in it´s balance sheets.
Even thou the institution functions financially independantly from goverment, investors of capital in the fund know that it has backing of goverment in case things go wrong. My personal opinion is that even thou the fund is managed as a business and by goverment, it´s investors, that are mainly bank conglomerates through pension funds, could have some sort of influence in the fsv as their money is the money that keeps the funds running. We should analyze the funds capital structure in the next paragraphs.
Loans in default and real estate owned of the FSV can reflect how vulnerable low income buyers are and also the bad quality of houses, services and neighborhoods in which most of the abandoned houses are located. This could lead us to analyze why people can´t buy more houses in our economic system and why people that abandon the houses they bought can´t keep paying them or why they don´t want to keep paying them.
It has been a positive sign from this goverment that before it, only loans up to $30,000 could be financed by the fund and now this has been expanded to houses up to $50,000. It is clear that this is very convenient to access votes of population that are beeing benefited by this measure and this could also help diversify risk in buyers that have more stability but could distract from the problem that less favored people have in obtaining and paying loans to buy houses.
Pension Funds are not obliged by law anymore to invest in the FSV so the institution needs to access different investor. 22.1% where loans in default to December of 2007, and local Banks have a 2.0% rate, which indicates that even thou this credits in default are covered by reserves, the FSV has a problem wih loans in default. Another interesting data is that 58.4% of Class A loans is serving as guarantee for emissions in the stock market. To December 2007 the FSV has
27,659 foreclosed houses in it´s balance sheets.
martes, 10 de junio de 2008
WHAT IS TO BE DONE IN THE HOUSING SECTOR IN EL SALVADOR
Important conclusions of a research paper I did with an Economist a couple of years ago was that a third force, appart from bankers and developers must be born in our country, and it must be a force that protects consumer rights, in this case, buyers of popular housing projects. This force can be represented by Real Estate Professionals and their associations.
Another important conclusion is that developers must enter a process in which construction costs must be reduced by applying better construction technologies and standards that can be reflected in a lower selling price of this types of homes and motivate developers to be more efficient, and also that the market supply that developers create, gives more aggregate value to buyers (bigger lot size, better water supply,etc), and public financial institutions have in this way, better projects to finance which will not be foreclosed because of buyers unwillingness to pay a loan for a house that doesn’t have the promised water or electrical supply, or basic living conditions, which in the end creates a Real Estate Owned Portfolio to financial institutions.
Also, a revision must be made of important institutions as the private banking system of our country, in respect to supply of short term real estate loans (corporate loans) for development of housing projects and long term financing for buyers (retail banking), that have in the past been managed with nepotism and corruption in some cases, setting aside market, technical, and financial aspects for financing approval of this real estate projects, and puts the eye not only in institutional credibility as happened in the U.S. with the Enron case, but also in the moral standards of the people who manage this institutions. The high moral standards of this people is important for the right development of the real estate industry and housing solutions for the poorest of the poor. The structure of our financial system must be reviewed, as big banks are the biggest receivers of savings in our country and aren’t interested in managing small loans for the poor because of their strategy of giving a priority to transnational clients in a more globalized world, and the fact that bank financial conglomerates presently own Private Pension Funds that are the only investors of Public Financial Institutions such as the “Fondo Social para La Vivienda” that invests near 60% of long term financing for low income buyers in our country, and gives rise to a situation in which financial conglomerates not only concentrate control of short term and long term housing financing, but puts in risk pension funds of the poor that are beeing invested in financing projects that have been constructed by developers that obtained corporate loans through corrupt methods with some bank-officer participation, and that creates a never ending circle that at the end could affect savings and pension fund savings of the poor, or even governments’ fiscal stability when it buys private banks that get bankrupt and that must be bought by government wth our taxes as is the case of CREDISA, a real estate private bank that went bankrupt and whose porfolio was bought by the Central Bank to repay little owners of savings accounts.
A stronger parcipation of government in short term and long term financing is recommended through it’s real estate funds like FONAVIPO and public banks as HIPOTECARIO, that can provide incentives to savings accounts that can be invested in long term real estate financing and corporate financing controled by goverment.
We are also suggesting to revive a proposal that was made in the early 90’s, in which a creation of a National Housing Advisory Board was proposed: the “CONSEJO NACIONAL DE LA VIVIENDA” , and that included private and public sectors in the consultive plans and policy formulation, and that Real Estate Proffesionals are included in this Board.
Finally, with a new set of laws like securitization, leasing and investment fund laws, and that will directly affect financing, development and sales of housing projects, a strong stand must be made to protect consumer rights to make sure that this new laws benefit the poorest of the poor and don’t propitiate the creation of a bigger monopoly of financial conglomerates that are presently owning banks, controling short term and long term real estate financing, pension funds, the stock brokerage business, and that are also to own leasing companies that will own, develop, and lease with a promise to sell houses of popular housing projects, expanding financial conglomerate activities to real estate development and owning of big portfolios of houses that produce rent, and probably having control of rent prices of the poor, and control of the property management business.
We ask ourselves if recommendations of the Monetary Fund at the beginning of the 90’s to reduce government control and that gives more power to the market, and puts the popular housing problem in the hands of the market (developers and bankers) is the best strategy for our countries or a stronger participation of government as producer, financier and seller of housing projects must be implemented.
SUMMARY AND COMENTARIES TO NATIONAL HOUSING POLICY OF THE EL SALVADOR GOVERNMENT RELEASED IN JUNE 2005
The National Housing Policy of the El Salvador Government (2004-2009), is a State Initiative that the actual government has formulated and promoting. It was presented to our society in June 2005 and is under coordination by the Vice Ministry of Housing and Urban Development, which is part of the Ministry of Public Works.
The policy includes the two millennium development objectives, which are to reduce to 50% in 2015, the proportion of people without access to potable water and basic sanitation, and needs to accomplish for
The National Housing Policy has nine general objectives and action lines, one of which is to implement a National program of Savings for Housing and implement financial instruments to attend housing supply and demand.
Other actions lines include making more effective and efficient state entities related to the sector and modernize and integrate the legal and normative frame that regulates it.
The objectives of the Housing Policy are to contribute substantially to human and economic development of the country, assuming the constitutional, social, political and moral responsibility that ”every Salvadorean occupies and becomes an owner of a adequate housing solution in accordance to his possibilities in a sustainable environment”.
All this, puts a priority in the low income housing segment of Salvadorean Society if it is to contribute substantially to the actual governments plan. As we will see afterward, Government is asking for a supply and demand study with emphasis in the low income segment, but that includes middle and high income supply and demand analysis.
Because generating new mechanisms and financial instruments, in accordance to the economic reality of our country, is one of the main issues of the housing policy, then a system which measures correctly demand and supply for financial investment purposes in the low housing segment will be one of the government objectives.
Homes or families in 2004 ´were estimated as 1,626,036 with an average of 4.2 people per family group.
The housing park in
If we aggregated to the houses that presented deficiencies, those houses corresponding to demand of new homes, the total deficit camed to the order of 545,000 units in 2004. We must aggregate an approximate of 32,000 houses annually because of the vegetative growth of the population.
Demand has always registered a cyclical behavior in disharmony with supply, without any effort being made tending to its compatibilization. That is why it is necessary to develop new financial instruments that potentiate access to credit by the informal sector and Salvadoreans living abroad. (They have consistently been left out of formal supply and that is why their housing demand needs to be measured). When we mention informal sector we mean all those self employed people and people that employ others, that don’t register their transactions in a formal accounting system because they avoid paying taxes and therefore don’t have any means to prove their capacity to pay a loan. When we mention Salvadoreans that live abroad, we are talking about almost 2.5 million Salvadoreans that represent 30% of total our nation’s population and that are living and working in the
In the past, I have been a member of an interinstitutional group composed of Developers, Bankers, Government and Real Estate Professionals. I have seen technical requirements of a survey that was intended to be made of demand of housing by this sector and that was left aside because of change of Government in 2004 and that must be reconsidered and redirectioned by goverment.
This creates the necessity to create a system that measures correctly demand and supply for financial investment purposes in the low housing segment and that includes measurement of demand and supply for people of the Informal Sector and Salvadoreans living abroad.
Because one of the actual problems are that the regulatory and institutional frames are obsolete, and produce inefficiency, bad coordination and lack of compromise in relation to changes in the sector, a design of a system that measures offer and demand must include an analysis and recommendation of who must have the responsibility for such system and its management and how can it be incentivated and implemented.
The housing policy is based in three axis that are:
1-Housing as a development tool.
2-Access to housing.
3-Modernization of Technical, Institutional, and Legal Frames.
Consequent with it, there are some points that government thinks in its Housing Policy, that must be achieved and that are of our interest:
1) Adequate Financial instruments. Again this places the necessity of offering a correct system that can measure demand of housing/loans, to better design the financial instruments. This puts a strong necessity of facilitating a correct measurement of supply and demand of housing to permit implementation of instruments such as Mortgage and Asset Backed Securities.
2) Promotion of long and short term financing.
3) Promoting peoples compromise with their land of origin and development of incentives to Salvadoreans living abroad for investment in projects of the sector located in
4) Modern and efficient legal and normative frame. Again this places us in the necessity of defining who must create and manage the housing supply and demand measurement system and what will be Governments participation and responsibility in it.
5) Development and management of housing and territorial information instruments.
Inside a Social Market Economy, the
-Create conditions in which Savings and resources are moved to the housing sector and to obtain positive returns in real terms.
-Create conditions in which mortgage loans are recovered in real terms, making housing finance sustainable in the long term and making possible that the financial intermediaries find the financing business, a productive option.
Government’s executive organ in article 43, confers to the Vice Ministry of Housing and Urban Development the following obligations and faculties:
-Formulate and lead the National Housing and Urban Development Policy, and elaborate National and Regional plans and dispositions of general character for developments, land parcellings, human settlements in general, and constructions in all the Republics territory.
-Plan, coordinate and approve the activities of the Housing and Urban Development sectors; determining in its case, the competency and respective activities of the State entities in its execution and orienting the participation of the private sector in such policy.
Other functions, obligations and faculties that the Vice Ministry of Housing and Urban Development has, are the following:
-Elaborate, facilitate and care for the Urban Development Plans of those localities whose municipalities don’t count with their own local development plans. (We have entered a process in which local development plans are being created and there are already many of them for the most important areas of the country)
-Plan and coordinate the integral development of human settlements in all the national territory.
-Approve and verify that the programs that are developed by the Autonomous Official Institutions that belong to the sector, are coherent with the National Housing Policy emitted by the Vice Ministry of Housing, and coordinate all that is related with human settlements in all the Republics territory and verify that they are coherent with the development plans emitted by the competent municipalities.
-Adapt and be vigilant of the completion of Laws and Regulations in matters of urbanism and construction that exist.
Investment is one of the priorities and to invest, data is needed, and the most important data is demand and supply.
Data of demand is actually thrown by the Housing Census which is made every 10 years and which was be done again in 2005 and was made until 2007. There is also another tool that is used for obtaining data of demand and that is called the Family and Multiple Purpose Survey that is used to measure consuming patterns in Salvadorean Families. It is not a specialized Survey for Real Estate or Finance Purposes.
Another prioritary objective of actual Housing Policy is to arrange diverse financial instruments to attend housing supply and demand and specific lines of action include promoting an individual system of savings and capitalization destined to the acquisition of houses, establishing a system of guarantees that permits that enterprises increase their offer and that families access long term financing and to create entities that emit and manage Mortgage Backed Securities (secondary mortgage market) that facilitate access to housing finance.
SHORT NOTE ABOUT PENSION FUNDS AND HOUSING
One of the problems we have in El Salvador is lack of options for Pension Funds to invest. They can´t manouver that much to diversify risk because lack of options to invest. Also, almost no developers fund themselves in the Stock Market so practically all housing projects are made with short term funds (3 years at much) and pension funds cant canalize their funds to developers. There is no long term funding for developers. The Pension Fund industry has gone through a lot or mergers and there is actually only 2 Pension Funds owned by Financial Conglomerates, so Banks control this side of compettion.
RESULTADOS ULTIMO CENSO DE VIVIENDA/RESULTS OF HOUSING CENSUS
http://www.laprensagrafica.com/economia/1076280.asp
Hay 44,383 viviendas en condición de hacinamiento
El V Censo de Vivienda realizado en 2006 reveló que el 2.6% de las unidades habitaciones de El Salvador están en condición de hacinamiento. Entran en esta categoría las viviendas donde conviven más de tres familias.
economia@laprensa.com.sv
Ingresar a la vivienda de la familia Monterroza López es como abordar un bus, donde la máquina registradora solo permite el paso de una persona a la vez. Un estrecho pasillo desde la puerta principal es el único acceso al interior de la casa, que es más bien un cuarto de unos 3 por 4 metros de extensión, donde conviven 11 personas: seis menores y siete adultos.
Hay 44,383 viviendas en condición de hacinamiento
El V Censo de Vivienda realizado en 2006 reveló que el 2.6% de las unidades habitaciones de El Salvador están en condición de hacinamiento. Entran en esta categoría las viviendas donde conviven más de tres familias.
economia@laprensa.com.sv
Ingresar a la vivienda de la familia Monterroza López es como abordar un bus, donde la máquina registradora solo permite el paso de una persona a la vez. Un estrecho pasillo desde la puerta principal es el único acceso al interior de la casa, que es más bien un cuarto de unos 3 por 4 metros de extensión, donde conviven 11 personas: seis menores y siete adultos.
En el interior de la “casa” número 11 del mesón La Herrería, las pertenencias ocupan todo el espacio y se limitan a tres camas, un ropero, varias cajas rebalsando de ropa, una pequeña cocina sobre una mesa y una televisión.
“Ya nos acostumbramos”, afirma María Estela López, quien también tiene varios vecinos en el referido mesón ubicado en el centro de Santa Tecla, La Libertad.
La casa de la familia Monterroza López es una de las 44,383 viviendas y mesones que el V Censo de Vivienda cataloga como casas en hacinamiento, es decir, más de tres familias viviendo en una unidad habitacional, en este caso, dentro del mesón. Bajo ese parámetro, el porcentaje de casas en donde se vive apiñado, según el censo, es de 2.6% en relación al total de viviendas en el país: 1.668,227, de las que 17%, en contraste, están vacías.
“En ese cuarto, hay como 17. Esos sí viven apretados”, dijo Reymundo González, con 20 años de vivir en el mesón La Herradura, al señalar una puerta cerca de la entrada principal del mesón.
Déficit cualitativo
Según el último censo de población, 27,789 lugares de habitación conforman mesones, definidos estos como una vivienda que “por lo general se trata de un solo cuarto que tiene acceso a la calle desde un patio, pasillo, corredor o zaguán”.
A esos mesones se añaden 16,594 casas donde habitan más de tres familias, y juntos conforman el segmento de viviendas en condiciones de hacinamiento.
El déficit cualitativo —es decir, la carencia de una vivienda en condiciones óptimas de calidad—, tiene en el hacinamiento su cara más visible, pero las carencias son muchas.
Con la acumulación de personas en pequeños espacios para vivir también llegan otras deficiencias de servicios básicos y en algunos casos carencias en la construcción o estructura física.
Por ejemplo, Estela aseguró que, debido a que las pilas donde se recoge agua son compartidas con el vecindario, se debe levantar muy temprano para no correr el riesgo de encontrarlas vacías, con lo que no podría bañar a sus hijos más pequeños o realizar las tareas de hogar que requieren limpieza.
La concentración del hacinamiento se ubica en San Salvador, La Libertad, Santa Ana y Sonsonate; mientras que Cabañas, San Vicente, La Unión y Chalatenango tienen los índices más bajos, según datos del censo.
La Dirección General de Estadísticas y Censos (DIGESTYC) estimó que cada familia en el país está conformada por 4.2 miembros, y también que en algunos casos en una sola vivienda residen hasta 11 familias. Es decir, algunos casos son tan extremos que 46 personas habitan en una vivienda, aunque el censo no refleja tamaño promedio de una casa en el país.
Déficit cuantitativo
Para Ana Mabel de Soundy, viceministra de Vivienda, a las deficiencias de servicios y estructura que presentan unidades habitacionales en hacinamiento se suma el agravante que muchas familias que residen en esta condición, tienen recursos que podrían invertir en una casa para vivir de forma más digna, pero no reciben la oferta adecuada.
“Si se les ofrecen proyectos y financiamiento, se convierten en demanda más factible para comprar una vivienda”, manifestó.
Agregó que recién analizados los resultados del V Censo de Población, giraron invitaciones a empresas privadas a fin de contribuir en la solución, que lleve más calidad de vida a los hogares, cuyas viviendas tienen deficiencias. “Hay que acercar la oferta a la demanda para disminuir condiciones de hacinamiento”, dijo.
En ese sentido, Mario Rivera, presidente de la Cámara Salvadoreña de la Construcción (CASALCO), señaló que la industria está dispuesta a brindar alternativas. “Las personas que viven en hacinamiento van a demandar casas; quienes viven en mesones pagan una cuota y con condiciones adecuadas tienen capacidad de crédito”, afirmó, pero aclaró que se necesitan planes directos de ayuda financiera para muchas familias que habitan en una sola vivienda.
Casa con carenciasEl V Censo de Vivienda indica que en el país hay 354,902 viviendas con alguna de tres carencia.
PISO DE TIERRA
319,902 con piso de tierra; 15,000 con techo de palma o material orgánico; y 20,000 con paredes de desecho.
DENSIDAD
Los departamentos con mayor índice de hacinamiento también son lo de mayor densidad poblacional.
SAN SALVADOR
Con más viviendas en hacinamiento y una densidad de 1,737 personas por kilómetro cuadrado.
LA LIBERTAD
Tiene una densidad poblacional de 401 personas por kilómetro cuadrado.
Viviendas
1.6
Millones en el país, según censo.
1.4
Millones de hogares censados.
4.2
Promedio de personas por hogar.
COMENTARIOS
Antes de comenzar nuestro comentario, aprovecho que se han mencionado mesones en el articulo de la prensa grafica y preguntamos: que paso con las reformas a la ley de inquilinato que congelaban los alquileres de los mesones??
Cuando se mencionan viviendas vacias, creo que tambien hay que preguntarse cual es el efecto que ha tenido la delincuencia en ciudades del Norte como Apopa y otras ciudades como Soyapango y cual es el numero de estas viviendas que posee el Fondo Social para la Vivienda y los Bancos y tambien si las viviendas vacias se deben a problemas de agua y problemas tecnicos de construccion de los proyectos o netamente a la delincuencia. 17% de 1.66 millones estan vacias, Por cierto, al calcular el 17% de 1.66 millones nos da la increible cantidad de 283,598 vivienda vacias, lo cual es un dato espeluznante y espectaculas y es necesario saber porque estan vacias. Llama la atencion tambien que 319,902 viviendas tienen piso de tierra (de 1.66 viviendas en el pais) lo cual lleva claramente a tener que generar una politica publica para incentivar que estas casas puedan tener pisos.
COMMENTARIES
Before starting to do our comments, we seize the opportunity that "mesones" have been mentioned in the newspaper article. Mesones in El Salvador is a name for dorms where 1 or more families live together. They usually share water and bathrooms outside the dorms. This was a very used way of living in the past and owners of them stopped seeing it as a good business because a law camed that freezed rent prices of all "mesones" so they could not increment rents anymore. This is an opportunity to ask what happened to reforms to this law that freezed rent prices in this type of properties??
An important data that the newspaper article contains is that there are a lot of empty houses in El Salvador, and we must ask ourselves if this is happening because of violence like that of the Northern municipalities of San Salvador or other municipalities such as Soyapango and what is the number of this houses that the Fondo Social para la Vivienda owns as repossesed properties and the number of this houses that private banks own. We must also ask if the empty houses are due to water problems or technical/construction problems or because of violence. 17% of 1.66 million houses in El Salvador are abandoned which takes us to the incredible number of 283,598 empty houses. It is necessary to know why this houses are empty. It is also interesting that 319,902 houses of the 1.66 million that exist in El Salvador have no floor (only the plain earth) which is a clear sign that a public policy has to be formulated to find a way for this people to have floors in their houses.
OBJETIVOS DE ESTE BLOG/OBJECTIVES OF THIS BLOG
Objetivos de este blog:
Promover la maximizacion de oportunidades para que Salvadoreños adquieran una vivienda.
Valores de los administradores de este blog:
No unir nombre personal de nadie al resultado de este trabajo y no buscar reconocimiento sino aportacion relevante.
Objectives of this blog:
To promote the maximization of opportunities for all Salvadoreans to own a house.
Values of managers of this blog:
Don´t relate personal name of nobody to the results of this work and don´t look for recognition but to make a relevant contribution.
Promover la maximizacion de oportunidades para que Salvadoreños adquieran una vivienda.
Valores de los administradores de este blog:
No unir nombre personal de nadie al resultado de este trabajo y no buscar reconocimiento sino aportacion relevante.
Objectives of this blog:
To promote the maximization of opportunities for all Salvadoreans to own a house.
Values of managers of this blog:
Don´t relate personal name of nobody to the results of this work and don´t look for recognition but to make a relevant contribution.
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