Published:Sunday | April 10, 2016
Howard Mitchell, a former chairman of the National Housing Trust (NHT), has suggested the Government give over state-owned lands for housing development to help ease the shortage in the housing stock in the lower-income segments of the market.
Mitchell made his call in the wake of suggestions from Jamaica Chamber of Commerce (JCC) President Warren McDonald that NHT contributions refunds be made transferable to the National Insurance Scheme (NIS) to help provide pension benefits for those in the lower socio-economic bracket whose wages do not meet the minimum levels required to access and service an NHT home loan.
Warren has suggested that the Government urgently re-examine the eligibility formulae governing the loan programme to allow lower income earners a greater chance of home-ownership.
He acknowledges that his suggestion for the transfer of funds would not improve access to NHT loans for those groups, but said it would otherwise provide them with financial buffer in retirement.
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