In alignment with its goal of constructing over 1 million homes during the current six-year term, the National Housing Fund for Workers (Infonavit) has published regulations determining the maximum price of homes to be built.
Regulation Publication
On September 19, the regulations were published in the Federal Official Gazette, fulfilling rules that granted Infonavit the authority to construct housing for low-income rightsholders.
Key Principles
The regulations outline the principles governing the pricing of homes constructed by Infonavit:
- Affordability: The maximum sale price of the homes will prioritize the payment capacity of rightsholders earning up to two minimum general wages.
- Equity: The maximum value determination must be equal for homes with identical characteristics within the same housing complex, though differences may exist based on the floor level.
- Continuity: The compensation Infonavit receives from selling each home must ensure maximum cost recovery, without pursuing profit, to secure the organization’s financial stability.
According to the document, these regulations will be effective from the day following their publication in the Federal Official Gazette.
Who is Infonavit and Why is This Relevant?
Infonavit, or the National Housing Fund for Workers, is a Mexican government-owned mortgage finance institution. Its primary mission is to provide housing credit to workers and their families, promoting homeownership. With over 9 million rightsholders, Infonavit plays a crucial role in the Mexican housing market.
This recent move to set maximum prices for homes aims to ensure affordability and equity in housing for low-income workers. By prioritizing rightsholder payment capacity, Infonavit ensures that these homes are accessible to those who need them most. The equity principle guarantees fairness among similar homes within the same housing complex, while the continuity principle ensures Infonavit’s financial stability.
Impact on Low-Income Workers
By implementing these regulations, Infonavit directly impacts low-income workers and their families. These individuals will now have better access to affordable housing options, promoting stability and improved living conditions. Moreover, the emphasis on financial continuity for Infonavit ensures that the institution can continue providing housing credit to workers in the future.
Key Questions and Answers
- What is Infonavit? Infonavit is a Mexican government-owned mortgage finance institution that provides housing credit to workers and their families, promoting homeownership.
- Why are these regulations important? These regulations ensure affordability, equity, and financial stability in the housing options available to low-income workers.
- Who benefits from these regulations? Low-income workers and their families will have better access to affordable housing options, promoting stability and improved living conditions.
- What are the key principles of these regulations? The three main principles are affordability, equity, and continuity.
