Background on Infonavit and the Issue
The Infonavit, or the National Fund for Workers’ Housing, is a Mexican public institution established to protect workers’ housing rights. Recently, the director of Infonavit, Octavio Romero, proposed regularizing occupied homes through rent-to-own schemes. However, this proposal has been met with opposition from the business sector.
Business Sector’s Concerns
Several business chambers have signed a joint statement, warning that the proposed measure would institutionalize irregular occupation and jeopardize Infonavit’s financial future. They argue that the Infonavit was created to safeguard workers’ assets, not to endorse unlawful occupations or turn illegitimate occupiers into beneficiaries.
Statistics and Impact
Out of 843,000 total housing units cataloged by the Secretariat for Well-being, 168,000 are occupied by individuals with no legal connection to the Infonavit or legitimate property owners. Of these, 86% lack any legal link to the Infonavit or legitimate property owners.
The business sector contends that enabling these occupiers to acquire properties below their real market value sets a dangerous precedent.
Infonavit’s Financial Health
The business sector also raises concerns about Infonavit’s financial health. The moratorium rate has increased from 7.8% in 2018 to 18% by 2024, and if credit segmentation is considered, the deterioration of the portfolio could reach 32%.
Instead of addressing overdue credits to benefit accredited individuals’ assets, the proposed strategy exacerbates the problem and endangers Infonavit’s future financial stability, according to the business sector.
Legal and Property Rights
Previously, instructions were given not to proceed with evictions for accredited individuals with overdue payments. Now, the business sector opposes extending this cautious approach to occupiers, even when the homes are not Infonavit property but still belong to accredited individuals who have fulfilled their obligations or have pending credit payment issues.
Key Questions and Answers
- Q: What is the Infonavit? A: The Infonavit, or National Fund for Workers’ Housing, is a Mexican public institution that protects workers’ housing rights.
- Q: What was proposed by Octavio Romero, the Infonavit director? A: He suggested regularizing occupied homes through rent-to-own schemes.
- Q: Why is the business sector opposed to this proposal? A: They argue that it would institutionalize irregular occupation and jeopardize Infonavit’s financial future.
- Q: What percentage of occupied homes have no legal connection to the Infonavit or legitimate property owners? A: 86%.
- Q: What concerns does the business sector have about Infonavit’s financial health? A: They are worried about the increasing moratorium rate and potential deterioration of the credit portfolio.
- Q: How does the business sector view legal and property rights in this context? A: They oppose extending cautious eviction approaches to occupiers and emphasize that the Infonavit should not have legal authority to grant credits, rents, or deeds to non-derechohabientes.
