Constitutional Change Brings Affordable Housing to Mexican Workers
Constitutional reform approved to grant workers access to affordable housing through the National Housing Fund. The fund will provide credits, build housing, and offer social rental options with purchase rights after 10 years.
In a move that could reshape the Mexican landscape, both literally and figuratively, the country’s lower house has taken a significant step towards addressing its chronic housing shortage. The recent approval of a constitutional reform in the Commission on Constitutional Points marks a potential turning point in the nation’s housing policy.
The heart of the matter lies in the National Housing Fund for Workers (Infonavit). This behemoth of a fund is set to undergo a metamorphosis, transforming from a mere financial institution into a socially oriented housing provider. The promise is simple: cheaper, more accessible housing for Mexico's working class. The reform outlines a system where workers can not only secure affordable loans for home purchases or improvements but also become tenants in housing built directly by Infonavit.
