{"id":4979,"date":"2012-05-15T16:36:41","date_gmt":"2012-05-15T21:36:41","guid":{"rendered":"http:\/\/panamaadvisoryinternationalgroup.com\/blog\/?p=4979"},"modified":"2012-05-16T10:02:52","modified_gmt":"2012-05-16T15:02:52","slug":"central-americas-housing-shortage","status":"publish","type":"post","link":"https:\/\/panamaadvisoryinternationalgroup.com\/blog\/central-americas-housing-shortage\/","title":{"rendered":"Central America&#8217;s Housing Shortage"},"content":{"rendered":"<p><a href=\"http:\/\/panamaadvisoryinternationalgroup.com\/blog\/wp-content\/uploads\/2012\/05\/Mystic-Garden-main.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-4980\" title=\"Mystic-Garden-main\" src=\"http:\/\/panamaadvisoryinternationalgroup.com\/blog\/wp-content\/uploads\/2012\/05\/Mystic-Garden-main-300x176.jpg\" alt=\"\" width=\"300\" height=\"176\" srcset=\"https:\/\/panamaadvisoryinternationalgroup.com\/blog\/wp-content\/uploads\/2012\/05\/Mystic-Garden-main-300x176.jpg 300w, https:\/\/panamaadvisoryinternationalgroup.com\/blog\/wp-content\/uploads\/2012\/05\/Mystic-Garden-main.jpg 448w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><\/p>\n<p style=\"text-align: justify;\">When I first arrived in Panama in 2006, I looked out the window of the airplane as we approached Panama City at a sea of red roofs in numerous projects in the suburbs.\u00a0 These were\u00a0 housing units that were initially proposed to be affordable at just $35,000 to $45,000 and with government subsidized loan programs were available to anyone who held a permanent job and had a few hundred dollars for a down payment.\u00a0 As the lower and middle class moved up, so did the prices but the occupancy cost were still in line with rental homes.\u00a0 We even have a great little project in Boquete that is the first of it&#8217;s kind and it is doing well.<\/p>\n<p style=\"text-align: justify;\">On the broader scope, housing in general still needs to be addressed in Latin America and while not stellar, Panama has a good record of improving the picture here. The Inter &#8211; American Development Bank reports that the percentage of the population living in substandard homes or  those who do not have adequate housing, reaches 78% in Nicaragua, 67% in  Guatemala, 58% in El Salvador, 57% in Honduras, 39% in Panama and 18%  in Costa Rica.<\/p>\n<p style=\"text-align: justify;\">An IDB study indicates that over two thirds of households in Nicaragua, Guatemala, Bolivia and Peru live in poor housing. Brazil and Mexico are the countries which have the largest deficits.<\/p>\n<p>From a statement by the IDB:<\/p>\n<p>IDB STUDY: LATIN AMERICA AND THE CARIBBEAN FACE GROWING HOUSING DEFICIT<\/p>\n<p>In order to increase the supply of adequate and affordable housing,  countries need to improve land tenure legislation, expand financing  methods and mobilize private financing<\/p>\n<p>Latin America and the Caribbean are facing a significant and growing  housing shortage that can only be dealt with if their governments  promote greater investment by the private sector in order to increase  the supply of adequate and affordable housing, according to a new study  by the Inter American Development Bank (IDB).<\/p>\n<p>Today, one in three families in Latin America and the Caribbean, a total  of 59 million people, live in inadequate housing or in houses built  with flimsy materials or lacking basic services. Nearly two million of  the three million households that are formed each year in Latin American  cities are forced to settle in informal housing, and in marginal areas,  because of an insufficient supply of adequate and affordable housing,  according to the study entitled \u201cA space for development: housing  markets in Latin America and the Caribbean\u201d.<\/p>\n<p style=\"text-align: justify;\">\n<p style=\"text-align: justify;\">\n","protected":false},"excerpt":{"rendered":"<p>When I first arrived in Panama in 2006, I looked out the window of the airplane as we<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-4979","post","type-post","status-publish","format-standard","hentry","category-news-articles-panama-perpsective"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.7 (Yoast 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