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'Not enough'
low-income houses
Published on: 11/26/2009.
CONSTRUCTION COMPANIES just are not building enough low-income houses.
Minister of Economic Affairs and Empowerment, Innovation, Trade, Industry and Commerce, Dr David Estwick, made this complaint yesterday.
He said a lot of the houses going on the market were out of reach of people earning $500-$600 a week.
"If you look now at the houses that have been completed, those houses being the houses in Marchfield, the houses in Workhall (St Philip) . . . you're talking about houses ranging in price from $180 000 to $130 000," he told reporters.
"How can an individual who is making between $500 and $600 a week ever be able to buy one of those houses?"
Estwick made the comment after touring the Six Roads, St Philip, company Caribbean Lumber & Building Suppliers Limited and its new show house.
The visit was one leg of a continuing tour of small businesses aimed at getting familiar with their operations, prospects and problems.
Estwick welcomed the company's new move into the house-building market, saying the Government wanted to encourage businesses to build hardwood houses "to give an opportunity to those persons who can afford a house in the range of, say, $60 000 to $70 000".
"I would want to see many more [construction companies] get involved," he added.
Estwick said he was not worried about the claims that Barbados should be building a lot more concrete homes and fewer wooden ones.
"You can't have champagne mouth and mauby pockets," he said.
"I would like to buy a mansion and live in Buckingham Palace too and drive a Rolls Royce. But if I don't have the money to do it, what am I going to do?"
He said that even the former Government had been building wooden homes, because it recognised that it "could not continue to carry that [heavy] cost".
Estwick yesterday toured a number of building industry businesses including LifeTime Products Inc. and Tropical Furnishings Inc.
He was accompanied by senior officials from his ministry, as well as officials of the Barbados Manufacturers' Association and the Barbados Investment and Development Corporation. (TY)
6 comment found!
: 11/26/2009
This is not new Mr Estwick, low income earners were always disadvantaged in terms of housing. The great NHC shouts the word but does nothing for this group. Last week a Guyanese company was allowed by this same government to build little green heart houses at $95,000. What is the cost of this material and what does it cost to transport it 'short up the road' to Barbados? What is the profit margin? would they made and packaged in Guyana, only to be assembled here or is raw material being imported? Government cannot continue to carry the heavy cost of wooden homes, but can allow Guyanese to come in and rob us with those houses. Imagine that Dr Estwick.
low-income houses : 11/26/2009
Low income houses, or higher paying jobs? the low income workers are priced out of the housing market. The middle class are struggling to keep they heads above water. Barbados is priced way out of the average worker means of carrying a mortgage,keeping food on the table,schooling two kids,utilities bills,to name a few basics in order to survive.The upkeep of these basic needs has outgrown our income by leaps and bounds.Everything is on the rise except our pay which is on the decline.
housing /hurricane : 11/26/2009
We all forget about Hurricane Season when building. In the caribbean that should be your first concern.As an Engineer for 20 years the structure have to be able to with stand winds of over 100 mph.So if you put up the winds blow it down every year you only repeting the cycle.Do a proper job once and when Hurricane season come you have minor repairs.A lot of the old churches still standing ,and they are hurricane sheiters.
Things rough indeed : 11/26/2009
The minister is correct. First a person needs to make a deposit if they are going to get a mortgage, most companies would say 10 %(10% of 180 000 is $18 000). One would have to have that money up front first (unless you get an ill-advised 100% mortgage). Then that person is stuck paying almost $1500 or so a month to pay back the mortgage and sill look for money to pay life insurance (cause you can't have a mortgage without life insurance) and also homeowners insurance. So your entire month's salary is basically going towards paying back for the house for the next 15 -25 years depending on the length of the mortgage.
Economically speaking your debt shouldn't be never more than a third of your salary, but realistically speaking that is the reality many people in Barbados are facing when they are paying for necessities such as owning their own home or a car.
No wonder children staying at home longer and longer
Wood House : 11/26/2009
An when de hurricane come?
housing : 11/26/2009
The poorer you are the bigger your family is and they need more space.
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