Discussants:
Dr. Arturo G. Corpuz, Vice-President, Ayala Land, Inc.
Rep. Romero Federico Quimbo, 2nd District, Marikina City
Informal housing arrangements, substandard structures, congestion, and land use conflicts characterize the housing problem in the Philippines. Evidence suggests that rather than help, however, the response of the State, especially its reliance on below-market priced mortgage loans, has aggravated the situation. If the housing problem is to be solved, government needs to rethink its role in housing finance, delink housing social assistance from financial markets, and turn its attention to fundamental supply side and urban governance issues. The recent Ondoy, North Triangle, and Xevera debacles illustrate why.