| | |  Puerto Vallarta Real Estate | March 2009 
President Declares Housing Sector Crucial for Overcoming Impact of Crisis
 Presidencia de la República
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| | 2.5 million temporary jobs to be created in construction industry | |
Last week, President Felipe Calderón led the signing of the National Pact for Housing to Live Better, which will create more dwellings for Mexicans as well as promoting employment and the construction of infrastructure.
“I know that the international crisis partly originated in the US real estate sector. Here, the housing sector will be a crucial part of overcoming the impact of the crisis in our country,” said the president.
President Calderón told representatives of various chambers comprising the construction sector, legislators and governors that the agreement reflects Mexicans’ union in overcoming the loss of jobs and preventing increased living costs for Mexican families.
He explained that in compliance with the National Agreement to Protect the Family Economy and Employment, financing allocated for acquiring popular housing will total approximately 180 billion pesos in 2009, as a result of combined efforts by INFONAVIT, FOVISSTE, the Federal Mortgage Society, the National Housing Commission and the various offices of the Social Development Secretariat.
He also reported that as part of the commitments assumed in the Pact, the various federal offices as a whole will continue their invests and channel over 7.4 billion pesos this year into supporting construction and remodelling 800,000 houses in 2009.
President Calderón said the the commitment involves creating over two and a half million temporary jobs in the construction area.
He explained that despite the world economic downturn, as a result of this commitment, housing construction will maintain a considerable rate and guarantee a source of employment and income for millions of Mexican families.
The signing of the National Housing Pact, he said, once again reflects the common commitment to coping with the effects of the international economic crisis in Mexico and not only reducing its impact but also improving the lives of hundreds of thousands of Mexicans.
"We are obviously dealing with a difficult situation although it is also true that all of us have something to contribute on the basis of our possibilities. Today we are taking a step in the right direction," he said.
What makes the difference with other nations and from previous experiences in Mexico is the strength of our economic variables but above all, Mexicans' decision to cope with this situation together.
“We know that this is a crisis which, regardless of its external origin, has had a powerful impact on the Mexican economy. It is obviously important to estimate the degree of its seriousness. But it is even more important to act and act together to offset its impact,” said President Calderón.
During this downturn, he added, Government has pledged to continue supporting low-income families with programs such as Tu Casa, which provides subsidies for these families to enable them to purchase their homes. |
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