April 01, 2005
The development of the housing sector is a strategic factor for any nation’s economic and social growth. An efficient and accessible housing market reduces the effect and impact of informal settlements, as well as increasing the job supply and social mobility. The proper functioning of the housing market is an important medium to channel savings, generate wealth, and create new companies.
In the case of Mexico, experience over the last few years shows that the development of the housing market has been a booster for economic growth independent of external demand. It has aided the creation of jobs, particularly in the construction sector, and it has generated economies of scale which reduce investment costs, in addition to contributing to the development of a capital market. The end result is the improvement in the quality of life of Mexican families.
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