Mexico's housing program contributes 1% of GDP, benefits 30 million

Mexico's "Vivienda para el Bienestar" (Housing for Well-being) program is making a significant economic contribution, accounting for nearly 1% of the national Gross Domestic Product (GDP), according to President Claudia Sheinbaum Pardo. Speaking in Tuxtla Gutiérrez, Chiapas, during a housing support delivery event, Sheinbaum stated that by the end of her administration, the program is projected to benefit approximately 30 million individuals.

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Thanks to the Vivienda para el Bienestar program, it is contributing about 1% of the Gross Domestic Product to the country's economic growth.

This benefit will be realized through the construction of new homes and the restructuring of existing credits, particularly those managed by Infonavit, Mexico's housing fund. Sheinbaum emphasized that the housing policy under the "Fourth Transformation" represents a departure from neoliberal governments, prioritizing the well-being of workers over the interests of real estate developers. The economic impact, estimated by Inegi data to be around 354 billion pesos, reflects the sector's contribution to the national economy.

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In our term, we are going to help about 30 million people with their housing.

Sheinbaum detailed that her administration has already resolved nearly five million unpayable Infonavit credits by reducing debts, freezing balances, and releasing outstanding amounts. Furthermore, 1.8 million new homes are being constructed through initiatives involving Infonavit, the National Housing Commission, and soon, Fovissste. The president asserted that access to dignified housing is a core tenet of the "humanist" approach of the Fourth Transformation governments, which she defined as governing "for the people."

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Before, they thought about the developer and corruption; now, they think about the people and the workers.

In contrast to previous administrations, which Sheinbaum criticized for issuing credits that increased over time and building homes far from urban centers, the current policy focuses on people and workers. She also noted the program's role in job creation, estimating that each new home built generates at least four direct and indirect jobs, contributing significantly to employment.

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We govern for the people.