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Andrew Holness
Andrew Holness|Jun 22, 2025 19:21
A grant of 500,000 toward a housing deposit may sound attractive, but if there are no houses available to purchase, all it does is drive up prices, making housing even more unaffordable for everyone. Good policy must go beyond political appeal; it must address the root of the problem. While financial support like grants and mortgage subsidies may help individuals in the short term, they do nothing to resolve the underlying shortage of housing stock. That’s why this Government has focused on the supply side of the housing equation. We are building more homes. 2,064 new housing units are being added to the national stock. These are opportunities for young professionals, retirees, low-income earners, and persons living with disabilities to access decent, affordable shelter. A sound housing policy must be rooted in equity and efficiency. It must ensure that at least one person is made better off, without making anyone else worse off. This is the standard of good governance. When policies are not carefully structured, they can unintentionally deepen inequalities, even when they sound generous. We must also think about fairness. Should we offer grants only to the young, while ignoring those who have worked hard for decades but still do not own a home? Housing policy must reflect the diversity of need in our society, not just age, but income, location, and circumstance. Ultimately, our priority must be to build more houses, particularly affordable homes, because only then can we meet growing demand without distorting the market. Once supply increases, targeted assistance becomes more effective and less inflationary. This is the approach we are taking: build more houses, ensure equitable access, and manage support wisely. That is how we secure Jamaica’s housing future.
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