Addressing affordable housing is a priority

The affordable housing sector in Puerto Rico faces major availability challenges, which can be identified as one of the main reasons why fewer and fewer young people want to live and reproduce in our country. This is a very important issue that requires urgent attention from the authorities.

Lee wrote this article Spanish.

The latest sign of this serious problem was provided this week by a study commissioned by the Department of Housing by professors at the University of Puerto Rico (UPR), which found that the availability of subsidized housing on the island is only sufficient for 20 people. Percentage of families whose income level qualifies.

This includes public housing, called Schedule 8, and other housing benefits. The waiting list at the Housing Department is almost 28,000 families. According to the U.S. Census Bureau, only 127,520 housing units are available for the 566,342 families who qualify for subsidized housing based on their income.

The firm Estudios Técnicos published its Affordable Housing Survey in September; this research shows that the average wage earner currently generates only 54% of the income needed to obtain financing for a new home. The Builders Association states that the cost of building a home today is 40% more than in 2017 due to increases in material and labor costs, while the average price of a new home last year increased by 25% from $179,649 in the first year. The 2023 quarter rose to $224,484 this year, according to Estudios Técnicos.

So it’s clear from the information available that we have serious housing constraints in Puerto Rico, and this is a very serious problem, especially for middle- and lower-class families who have great difficulty keeping a roof over their heads.

Of course, this is a problem that has no simple solution and has many economic, social and other consequences. However, we believe that it is essential that the issue be among the priorities of those in power and those who aspire to power. Experts on the subject have pointed to various ways that we can alleviate the hardship of many citizens who, due to circumstances beyond their control, are unable to obtain something as basic, simple as a decent and safe roof over their heads. .

Solutions to be worked on include, for example, the rehabilitation of existing but abandoned housing, especially in urban centres, through taxes and economic incentives. We believe that incentives for the development and construction of affordable or social interest housing are a good step to begin to unravel this knot that is strangling a large part of our population.

Last month, this newspaper asked four candidates for governorship about their suggestions regarding the housing sector. Responses ranged from building new units and rehabilitating city centers to providing incentives and more federal funding. It pays to look at others’ suggestions because they all have positive elements.

One of the most serious problems we face as a society is the aging of the population, and the main reason for this is the migration of young people and the decrease in birth rates. Both phenomena can be directly linked to difficulties in obtaining housing. Who would want to live and have children in a place where even having a roof over your head is an adventure?

Rebuilding Puerto Rico as a prosperous society where more people want to live and thrive starts with access to decent and affordable housing. There cannot be many things more important than this right now, to pay attention to and seek solutions for.

This content has been translated from Spanish to English using: It was developed by artificial intelligence and reviewed by an editor before publication.