Tag: housing policy

Property Matters – The Housing Gap

Property Matters – The Housing Gap

“…Whereas the People of Trinidad and Tobago—…(b) respect the principles of social justice and therefore believe that the operation of the economic system should result in the material resources of the community being so distributed as to subserve the common good…”

—From the preamble of our Republic’s current Constitution (1976)

In this, my Season of Reflection, I return to my constant concern with our national housing polices and the outcomes of the State’s housing program for our neediest citizens. The quality of discourse and understanding is in my view rooted in the quality of the questions one poses. How we define the problem allows us to improve our chances of seeing and solving.

hdclogoThe inescapable challenge for our national housing program is to provide sufficient affordable housing options of a decent quality. The HDC’s waiting-list is now in excess of 176,000 individual applicants, which excludes co-applicants or dependents. Over 90% of those applicants cannot afford a mortgage or to ever buy their own homes. They are just too poor to do so.

So this is the big question which our Housing program must answer.

How do we house those who can least afford good-quality housing? Continue reading “Property Matters – The Housing Gap” →

AUDIO: Interview on Business Corner on Power 102 FM, Housing Policy – 20 August 2018

business-corner-power-102Afra Raymond, based on his research on the effectiveness and delivery metrics of the existing housing policy, was interviewed on the Power 102.1FM ‘Business Corner‘ by Sandrine Rattan on Housing Policy and outcomes.

Programme Date: 20th August 2018
Programme Length: 00:12:48

VIDEO: Interview on CNC3 Morning Brew -7 August 2018

CNC3 LogoThis morning on CNC3’s the Morning Brew Hema Ramkissoon spoke with Afra Raymond about HDC. Mr Raymond said the plan under the National Housing Authority which was developed in 2002 was to build 100,000 homes in 10 years, he said the HDC has built approximately 12,000 homes. This is from 2003-2015. Video courtesy CNC3

Programme Date: 7 August 2018
Programme length: 00:18:34

Property Matters – HDC Financing

“…There are a lot of things that did not go right in the NHA and one of those things had to do with accountability…The HDC is not going to function like that. We are required by law to have the accounts ready in a certain period of time. The CEO will be held accountable and the Cabinet will hold the minister accountable and the Parliament will hold the Cabinet accountable. That is what the HDC means…”

—Then Housing Minister, Dr Keith Rowley, speaking at the launch of the Housing Development Corporation (HDC) in October 2005.

Keith Rowley
Former Minister of Housing, Keith Rowley, M.P.

This week I am shifting focus from the ‘Affordability Hoax‘ to the financial aspect of our country’s large-scale public housing program as conducted by the HDC. I am therefore ignoring other agencies such as the Land Settlement Agency and other types of State funding or tax allowances such as mortgage relief etc.

Dr Rowley was referring to these obligations in the HDC Act (No 24 of 2005) –

  • S.18 – to keep the HDC’s books and accounts in accordance with proper accounting standards;
  • S.19 – HDC’s accounts to be audited annually to proper accounting standards, with that audit report submitted to the Minister and the Board;
  • S.20 – HDC’s Board to submit its Annual Report to the Minister within three months of the end of the financial year and the Minister to publish that Report to Parliament within three months of its receipt.

But the HDC has never published any audited accounts in the eleven years of its existence, spanning three political administrations, thus far. That failure and/or refusal to publish audits is in breach of those sections of the HDC Act. Continue reading “Property Matters – HDC Financing” →