The document discusses housing starts in the Philippines and the government's role in addressing the country's housing shortage. It notes that housing starts are an important economic indicator and that the recovery in the Philippines was first seen in increasing housing starts. It also outlines the history of key government agencies involved in social housing like the People's Homesite Corporation and Philippine Homesite and Housing Corporation. It discusses programs like Pag-IBIG that provide housing loans to help the middle and lower classes access affordable homes. Additionally, it mentions that Philippine banks have excess cash and view real estate as a low-risk investment.
The document discusses housing starts in the Philippines and the government's role in addressing the country's housing shortage. It notes that housing starts are an important economic indicator and that the recovery in the Philippines was first seen in increasing housing starts. It also outlines the history of key government agencies involved in social housing like the People's Homesite Corporation and Philippine Homesite and Housing Corporation. It discusses programs like Pag-IBIG that provide housing loans to help the middle and lower classes access affordable homes. Additionally, it mentions that Philippine banks have excess cash and view real estate as a low-risk investment.
The document discusses housing starts in the Philippines and the government's role in addressing the country's housing shortage. It notes that housing starts are an important economic indicator and that the recovery in the Philippines was first seen in increasing housing starts. It also outlines the history of key government agencies involved in social housing like the People's Homesite Corporation and Philippine Homesite and Housing Corporation. It discusses programs like Pag-IBIG that provide housing loans to help the middle and lower classes access affordable homes. Additionally, it mentions that Philippine banks have excess cash and view real estate as a low-risk investment.
25, 2023 – HOUSING STARTS, PH HOUSING SHORTAGE AND
Lesson objectives ● Explain the concept of housing starts ● Identify the role of gov in housing and real estate development ● Recognize the role of banks and other financial institution Pre-test = 3/5 1. True - slayyy 2. True - SLAYYAYA 3. False - NAURRR URE WRONG 4. True - U GOT IT RIGHT 5. True - no :(((( Housing ● Housing - Refers to buildings that people live in or the providing of places for people to live ● Housing starts - an important measure of economics as it usually heralds (definition: a sign of; has something to do with) a recession or recovery in the economy ● In the philippines, the recovery was first felt with the increase in housing starts ○ Backlog in houses and dwellings was about 5 million units 2 years ago, is now down to 4 million units ○ The housing starts in the philippines were established mainly to help the middle class and the lower class to secure affordable dwellings ○ Housing starts to get counted in GDP together with new dwellings. However, resale of the units DO NOT become part of the computation of GDP. ■ GDP only counts new products but if it is resold again, it is not counted as GDP anymore ● People’s homesite corporation (PHC) was established on Oct 14, 1983 and its operations augmented by the national housing commission (NHC) establishment on Sept 17, 1945 ○ It changed 7 years after ● These two agencies were merged in Oct 1947 now known as Philippine home site and housing corporation (PHSHC) ● It started constructing and selling mass housing units known as Projects 1-8 through the social security system (SSS) for private employees and the government service insurance system (GSIS) for government personal ● Pag ibig housing loan ○ Pagtutulungan para sa kinabukasan Ikaw Bangko Industriya at Gobyerno ○ On June 11, 1978 presidential decree #1530 established the home development mutual fund. This created the pag ibig fund whose function is to provide loans for affordable housing ● The Philippine banks are awash with cash and usually, real estate is a safe credit risk for most banks, especially since the universal banks in the philippines are fully integrated and have investments in construction and dev companies as well ● The BSP has managed to offset a potential problem usually faced by real estate in the form of bubbly by requiring banks to maintain a manageable loan portfolio of just 30% to real estate loan