News Americas, NEW YORK, NY, Mon. Feb. 28, 2022: Money makes the world go around. Without it, countries are taken over, houses are left empty, and people live on the streets. It has been claimed that almost half the children in Latin America are on the streets hustling and stealing to make some money. Rent cannot be paid without cash in hand, and mortgage payments will not make themselves.
Housing in Latin America is an issue that plagues most third world countries, and the main dilemma that can be found is the lack of money. The ability to be financially stable is one that is hard to achieve because of a couple of different reasons. They include:
· Informal Housing Reform: One of the biggest issues within the country are the informal housing areas, which are more commonly known as the slums. They are generally group housing units that are almost not livable, by the standards of most of us. A few years ago, a study showed that over 117 million people in Latin America live in these types of places. One of the projects that the government needs to tackle is to covert these places into homes and apartments that are safe to live in.
· Intermittent Position In Regulations: Housing is not one of the primary areas that the government contemplates working on. In fact, housing has been placed in between social issues and economic policies. It is not clear why this is the case in Latin America, but the results are obvious. Since housing is caught in the middle of the political struggles it may be a while before the government actually takes notice.
· Housing Needs By The Majority: It is such an issue that the majority of the country, excluding the wealthy of course, need adequate housing. For this reason, it is being excluded from basic social programs and issues unless a severe problem causes a temporary act. Like every other country in the world, the wealthy take advantage of the circumstances and become even more rich. This is done in many different ways, but when they compare home loan refinance options, it becomes apparent that their needs are met faster than a person that is actually in need. It may sound harsh, but the reality of it is that lenders and mortgage brokers are in the business to make money. That means that taking a chance on the wealthy is far more likely to pan out, then loans given to a person that is struggling to survive.
· Governmental Intervention: Not all government intervention is good. It all depends on how they get involved, and what they do to help the problem. Lessons have been taken from Latin America and their last 50 years of housing issues. Allowing the rich citizens to build housing units in underdeveloped areas just makes the problems worse. Without adequate access to the necessities of the cities and stores most of the population will continue to swallow in the slums of the country.
To an outsider it would appear that the government needs a swift kick in the behind to get housing on track. It simply does not seem like they involve themselves enough in the problem to ever be able to overcome the crisis. When the rich of a country are allowed to run the regulations that are set into place, the underprivileged people will continue to be held down. Meanwhile, the rich and influential will continue to prosper and grow to the point of being untouchable.
