Nag ambisyon sa housing, minadali, BIGO

LUMINOUS by TCA & AGP

17 Jul 202406:18

Summary

TLDRIn the Philippines, President BBM announced an ambitious public housing program in August 2022, aiming to build one million housing units annually to address a backlog of 6.5 million units. Despite appointing a controversial real estate developer, Jose Rizalino Acuzar, as the head of human settlements and urban development, the program faced funding issues, with a PHP5 billion budget shortfall. The government's target of 6 million housing units by 2028 was deemed unattainable by the National Economic and Development Authority, as the 4% interest rate on housing loans would deplete government funds needed for other services. As of July 2024, only 100,000 homes had been completed, and the original plan was revised to 3 million units, highlighting the challenges of executing large-scale housing projects.

Takeaways

🏠 The public housing program in the Philippines remains a distant dream, despite promises made in August 2022 by President Marcos to build 1 million housing units annually during his term.
💼 Jose Rizalino Acuzar, a controversial real estate developer, was appointed as Secretary of Human Settlements and Urban Development to implement the housing program.
💰 Secretary Acuzar requested a budget of PHP 5 billion to implement the program, but the Department of Budget and Management allocated only PHP 2 billion.
📉 Secretary Acuzar warned that if the full budget is not provided, the housing backlog could balloon to 10.9 million units.
🏛️ Despite efforts by Secretary Acuzar, additional funding was not provided by December 2022.
📅 By February 2023, President Marcos reiterated the goal of 1 million housing units per year, stating that even if they fall short one year, they would catch up in the next.
🚧 As of April 2023, 600,000 housing units were under construction, and the President announced that they would surpass 1 million units per year.
🏢 In July 2023, Secretary Acuzar announced that only 100,000 housing units would be delivered in 2024, far short of the 1 million target.
📉 By July 2024, NEDA Secretary Arsenio Balisacan announced that the target of 6 million housing units would be reduced to 3 million due to funding constraints.
🤔 The housing program's feasibility is questioned, as only 100,000 homes have been completed by 2024, and the initial plan of 6 million units seems increasingly unrealistic.

Q & A

What was President BBM's housing program announcement in August 2022?
-President BBM announced his housing program with a plan to build one million housing units each year during his term to address the 6.5 million units backlog.
Who was appointed by President BBM as the head of human settlements and urban development?
-Jose Rizalino Acuzar, a controversial self-made real estate developer, was appointed by President BBM as the Secretary of Human Settlements and Urban Development.
What was the initial budget issue raised by Secretary Acuzar during the Senate subcommittee on Finance budget hearing?
-Secretary Acuzar stated that PHP 5 billion was needed to implement the housing program, but the Department of Budget and Management only allocated PHP 2 billion in the National Expenditure Program.
Did the government meet the target of 1 million housing units by the end of 2022?
-No, despite efforts, the additional funds were not provided by December 2022, and the target was not met.
What was the revised target for housing units by 2028 as suggested by House Speaker Romualdez?
-House Speaker Romualdez suggested an attainable target of 6 million housing units by 2028.
How many housing units did President BBM claim to have started by April 2023?
-President BBM announced that almost 600,000 housing units had been started by April 2023.
What was the target set for housing units to be delivered in 2024 according to Secretary Acuzar?
-Secretary Acuzar announced that for 2024, 100,000 housing units would be delivered, which is only 5% of the June 2020 target.
What was the significance of Executive Order No. 34 issued in July 2023?
-Executive Order No. 34 made the National Housing Program for Filipinos a flagship program and directed national and local government agencies to create an inventory of all available land suitable for housing.
What support did Senator Tolentino propose for the housing program by June 2024?
-Senator Tolentino proposed that the government might fund interest support or assistance in paying the interest on housing loans.
Why did Secretary Arsenio Balisacan of NEDA announce in July 2024 that the 6 million housing units target could not be achieved?
-Secretary Balisacan stated that the target could not be achieved because the government could not finance all of it due to the interest support under the program, which would deplete government funds allocated for other programs or services such as education and infrastructure.
What was the actual number of homes completed by 2024 according to the original plan?
-By 2024, only 100,000 homes had been completed according to the original plan, and the program was at risk of remaining a dream.
What was the estimated number of housing units that could be achieved with the PHP 500 billion allocated for aid?
-It was suggested that with the PHP 500 billion allocated for aid, the actual problem might be the lack of initial planning for the 6 million housing units, and the program could remain a dream.

Outlines

00:00

🏗️ Public Housing Initiative Challenges

The Philippine government under President BBM has set an ambitious goal to address the public housing backlog by constructing one million housing units annually. This initiative was announced in August 2022 and is overseen by Secretary Jose Rizalino Acuzar, a self-made real estate developer. Despite the grand plans, the program faced immediate financial challenges, with an initial budget request of 5 billion pesos for implementation, which was not fully met by the Department of Budget and Management. Secretary Acuzar warned of a significant shortfall in meeting the 6.5 million housing unit backlog without the complete funding. Despite these hurdles, the government continued to push for the construction of 1 million houses per year, with House Speaker Romualdez supporting the attainability of 6 million housing units by 2028. The President reiterated this commitment in February 2023, emphasizing the urgency to reach the target. However, by July 2023, only 100,000 housing units were confirmed for delivery in 2024, which is a stark contrast to the initial target. The slow progress was attributed to the lengthy process of system implementation and project execution. In July 2023, an executive order was issued to make the national housing program a flagship initiative, directing government agencies to inventory all suitable land for housing. The Senate expressed support for the program, with Senator Tolentino suggesting government support for housing loan interest payments. However, by July 2024, the National Economic and Development Authority (NEDA) announced that the 6 million housing units target was unattainable, citing the inability of the government to finance the entire program due to the proposed 4% interest rate support, which would deplete funds allocated for other essential services like education and infrastructure.

05:00

📉 Unmet Housing Targets and Financial Constraints

As of 2024, the original plan to complete 100,000 homes has not been met, and the housing program is at risk of remaining an unfulfilled promise. The government's financial commitment of 5 billion pesos may only result in the construction of 2 million housing units, far from the targeted 6 million. The allocation of 500 billion pesos in aid is seen as the real issue, as the initial planning for the 6 million housing units was not thoroughly executed. The government's support for a 4% interest rate on housing loans, as suggested by Balisacan, could potentially exhaust the government funds designated for other vital programs and services. The current situation highlights the financial constraints and the need for a more realistic approach to achieving the housing targets, suggesting that the program may continue to be an elusive goal without significant adjustments to its planning and funding strategies.

Mindmap

Keywords

💡Public Housing

Public housing refers to government-owned residential units provided to low-income citizens at affordable rents. In the context of the video, it is a central theme as the Philippine government aims to address the housing needs of its citizens through the construction of a significant number of public housing units. The script mentions President BBM's announcement to build a million housing units annually to tackle the 6.5 million-unit backlog.

💡Housing Backlog

A housing backlog refers to the shortage of housing units needed to meet the demand, often in the context of low-income or affordable housing. The video discusses the Philippine government's goal to address a 6.5 million-unit housing backlog, highlighting the scale of the challenge and the urgency to provide adequate housing for the population.

💡Jose Rizalino Acuzar

Jose Rizalino Acuzar is a self-made real estate developer appointed by President BBM as the head of human settlements and urban development in the Philippines. His role is crucial in executing the government's housing program, as mentioned in the script where he faces challenges in securing the necessary budget to implement the ambitious housing plan.

💡Budget Hearing

A budget hearing is a formal meeting where government officials present and justify their budget proposals to legislative bodies. In the script, Secretary Acuzar attends a Senate subcommittee on Finance budget hearing to request a budget of 5 billion for the housing program, indicating the financial planning and approval process involved in public projects.

💡Department of Budget and Management (DBM)

The Department of Budget and Management is a government agency responsible for budget preparation, execution, and management in the Philippines. The script references the DBM's allocation for the national expenditure program, which is less than the amount requested by Secretary Acuzar, illustrating the financial constraints faced by the housing initiative.

💡Executive Order No. 34

An executive order is a directive issued by the head of state, in this case, President BBM, to manage national affairs or change government policies. The video mentions Executive Order No. 34, which makes the national housing program for Filipinos a flagship project, directing government agencies to inventory all available land suitable for housing.

💡Interest Support

Interest support refers to financial assistance provided to reduce the interest rates on loans, making them more affordable. The script discusses the government's plan to subsidize the 4% interest rate on housing loans, which is a critical aspect of making housing more accessible to low-income earners.

💡National Housing Program for Filipinos

This program is a government initiative aimed at providing affordable housing to Filipino citizens. The video script highlights the program's importance as it is made a flagship project by an executive order, emphasizing the government's commitment to addressing housing needs.

💡Housing Initiatives

Housing initiatives are projects or programs designed to increase the availability of housing, particularly for those in need. The video script mentions the progress of housing initiatives, including the participation of the private sector, which is crucial for the success of the government's housing goals.

💡Government Land

Government land refers to land owned by the state and can be used for public purposes, such as housing. The script refers to the government's plan to use its land for housing, indicating a strategy to leverage existing resources to meet the housing demand.

💡NEEDA

NEEDA, or the National Economic and Development Authority, is the Philippines' socio-economic planning agency. In the script, Secretary Arsenio Balisacan of NEEDA announces that the target of 6 million housing units is unachievable, which reflects the challenges and revisions in the government's housing goals.

Highlights

In August 2022, President Ferdinand Marcos Jr. announced a housing program aiming to build 1 million housing units per year throughout his term to address the 6.5 million housing backlog in the Philippines.

Jose Rizalino Acuzar, a controversial self-made real estate developer, was appointed by President Marcos as the Secretary of Human Settlements and Urban Development to lead the housing program.

Secretary Acuzar informed the Senate subcommittee on Finance that the program requires PHP 5 billion for implementation, but only PHP 2 billion was allocated in the National Expenditure Program.

Acuzar warned that if the full budget was not provided, the housing deficit could swell to 10.9 million units.

Despite efforts by Secretary Acuzar, additional funding for the housing program was not provided by December 2022.

In January 2023, House Speaker Romualdez expressed confidence that the 6 million housing units target by 2028 was attainable.

President Marcos reiterated his commitment in February 2023 to achieve the target of 1 million housing units per year, stating that if they fall short one year, they would compensate the following year.

By April 2023, nearly 600,000 housing units were reported to have been initiated, with claims that 1.2 million housing sites were under construction.

In July 2023, Secretary Acuzar announced that only 100,000 housing units were expected to be delivered in 2024, a mere 5% of the 1 million unit goal.

When asked if the 6 million housing units target by the end of Marcos's term was still on track, Secretary Acuzar stated it was 'almost' achievable, citing long processes and slow project execution.

In July 2023, President Marcos issued Executive Order No. 34, making the 'Pambansang Pabahay Para sa Pilipino' program a flagship initiative and directing national and local government units to inventory available land for housing.

By May 2024, the Senate had committed to supporting the national housing program, with Senator Tolentino suggesting government funding could help cover interest payments on housing loans.

In June 2024, Secretary Acuzar announced progress in housing initiatives due to private sector participation.

However, in July 2024, NEDA Secretary Arsenio Balisacan declared that the target should be reduced from 6 million to 3 million housing units, citing budget constraints and the government's inability to fund the interest support for all 6 million units.

Secretary Balisacan emphasized that if the government subsidized the 4% interest rate on housing loans for all 6 million units, it would deplete funds allocated for other essential programs, such as education and infrastructure.