BARBADOS IS STILL in the grip of the 2008 financial crisis as should be evident to all. Unemployment has risen over the past five years and wages and salaries have remained stagnant while direct and indirect taxes have risen. It is a struggle for many people, making home ownership a mere dream for many.
But given the interlocking economic and social linkages between communities and home ownership, the importance of housing remains a broad national concern. It brings to mind that all too familiar phrase that all politics is local and despite the various issues facing this country, local politics has become even more local when dealing with the issue of affordable housing.
For most Barbadians, the goal of owning a home remains their No. 1 priority in terms of lifetime achievements because it is seen as representative of financial stability and knowing that their years of hard work were not in vain. Owning a home becomes the single biggest investment for most Barbadian families. Housing is an issue which touches all of the people, given the importance of home ownership to the society.
One of the amazing things in Barbados has been the way housing prices have remained generally steady, in spite of the recession, with a few dips that some realtors have described as a market correction. But prices have remained generally high, indeed out of reach for many people, even in households where both spouses are working. The harsh reality is that income has not risen anywhere near that of the cost of houses. This has impacted on not only the poor but many thrifty, hard-working people. This situation presents additional economic and social challenges.
In the meantime, the backlog of applicants at the National Housing Corporation (NHC) has become longer. Many people have turned to private developers, but the majority must wait on subsidised housing. Even in the midst of challenging economic times, Government cannot turn a blind eye to this situation.
Minister of Housing Denis Kellman is never shy of taking to the airwaves or social media to state his case. There are many issues under his portfolio that he needs to defend.
He should indicate when the legal issues surrounding the ownership of the units in NHC estates will be completed. So, too, must he say what has happened to the 500 lots programme and those joint ventures where so many houses or apartments have been left empty for extended periods.
While the NHC can no longer be seen as little more than a welfare agency, every effort must be made to reduce that backlog of people eager to own a piece of the rock, whether a traditional house or a condominium. Achieving home ownership must not become an illusion. But it requires action.
