low-cost houses pushed

low-cost houses pushed

Pag-IBIG Fund is encouraging the development of low-cost socialized house with units costing as low as P100,000 to make them affordable to the poor.
Edgardo Lacson, a member of the board of the Fund, said the current P400,000 cost of socialized housing units translates to a monthly amortization of P1,000 which is still not within the reach of the poor.
"We want to make it as affordable to as low as P200 to P300 a month in amortization," Lacson said.

Lacson said this is a faster way of addressing the 4 million-housing backlog.

"With only 400,000 units being built every year, how can we catch up? We need to think out of the box. We want to update the backlog in six years. We want real low-cost housing. It’s easier in the pockets of borrowers," said Lacson.

Keywords - Low cost housing, low-income housing, concrete homes, human settlements, housing backlog, lacsn, 4 million, affordable to the poor, socialized, moladi solution

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