New Bills: A Source of Concern

MEXICO - Report 11 Mar 2014 by Mauricio Gonzalez and Ernesto Cervera
Executive Summary Last week Mexico’s federal government announced a credit program designed to help revive the homebuilding industry. The federal agencies in charge of facilitating credit to the housing sector (such as Infonavit, Fovisste, and Fonhapo, among others), would expand by 18% the credit support channeled to the industry from MXN255 billion in 2013 to a projected MXN301 billion in the current calendar year. The government hopes to make mortgage loans available to those making less than five minimum wages (a little over USD5 a day). Housing subsidies are to be increased from MXN8.0...

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