Remittances Seen To Continue To Fund Housing

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Mr Lee
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Looks like the prices may stay up on residential construction projects, but will people keep paying the already inflated prices? Could it be that owning a home is a top priority of most Filipinos? Remittances seen to continue to fund housing MANILA, Philippines

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Genius
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This concrete guy makes his forecasts predicated on the basis that filipinos are underserved comparitively but how would the calculation run, if they knocked out that segment of society that can barely feed itself on a daily basis ?Sure a home is a priority whether you own or rent. But a concrete home is not a priority for shanty dwellers. I think he is wrong. Malaysia and Thailand are they as dirt poor as the phils ? not sure about it, but both have infrastructure that makes phils pale.

Looks like the prices may stay up on residential construction projects, but will people keep paying the already inflated prices? Could it be that owning a home is a top priority of most Filipinos? Remittances seen to continue to fund housing MANILA, Philippines
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TheMason
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My brother-in-law is an OFW in the UAE home for the holidays. We were just talking about the sky-high prices here for houses. He says the main driver of the prices is that credit is more readily available to people now. With builder or bank mortgages offered to more people, the houses can sell for higher prices because they are being financed. In the past, you had to pretty much pay cash up front for a house and lot. Now, you can just pay it over 10 years or so.Its the same dynamic that drives real estate prices in the US. When mortgages are cheap and easy to get, real estate prices go up. When credit is tight and hard to come by, the prices drop.

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