THE government must work with the private sector to address the housing backlog in the country, business tycoon and former senator Manuel Villar Jr. said. Villar told reporters earlier that the government needs to work with the private sector and find out why developers are not entering the lower end market where a big chunk of the backlog is. “Either the government will do it — address the housing backlog — or you will let the private sector do it. But if you want to let the private sector do it, you just have to find out why they are not entering in a big way,” Villar said. He noted that the country’s housing backlog is still not being met as demand continues to grow each year, which continues to widen the gap between demand for housing and the number of of houses being produced. The current housing backlog is estimated to be around 5.5 million and is predicted to reach 6.5 million in 2030 if it remains unaddressed. “It’s not being met. It’s not yet enough. Kasi every year, dumadagdag eh [Because every year there is additional demand]. And every year, production of the housing industry is less than… Read full this story
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