OPINION | The state of mass housing [Human Side Of Economics By Bernardo M. Villegas] READ:
NHA FIVE-STOREY LOW RISE BUILDINGS, Harmony Hills Terraces Phase 1 in Batasan Hills, Quezon City — DHSUD.GOV.PHe can only dream about solving our housing crisis the way Singapore did. Already very much a First World Country in the 2020s, Singapore’s public housing is located in new towns, in communities that are intended to be self-contained, with services near housing blocks and with housing either owned by or rented to residents.
This glowing description of the housing situation in Singapore, found in Wikipedia, is clearly beyond the reach of populous emerging markets like the Philippines, with huge budgetary requirements for rural development, education, health, and other vital services. That is why most students of mass housing solutions agree that the Singapore case iscult to replicate in today’s developing nations like the Philippines.
Neither do the Local Government Units have the institutional capabilities for housing construction or post-development services nor the financial muscle to fund and manage a significant and sustained nationwide housing program, especially the one espoused by the new paradigm shift towards sustainable housing communities. This is in spite of having more funds under the Mandanas-Garcia law and the possibilities for socialized housing under the balanced housing law and the local government code.
It is inevitable that construction prices will be going up as a result of the global economic crisis precipitated by the Russian invasion of Ukraine. It is already a foregone conclusion that inflation in the coming months will exceed the Bangko Sentral ng Pilipinas target of less than 4%.
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