🚨 Mexico: Minimum Wage Boosts State Housing Fund to $62.775 Million

🇲🇽 President Claudia Sheinbaum highlighted that the cumulative 154% increase in the minimum wage since 2018 has recapitalized the National Workers’ Housing Fund Institute (Infonavit) to $62.775 million. This injection of equity capital makes it possible to finance a massive plan for 1.2 million homes, which is already 43% complete.

📉 The public strategy also restructured 4.8 million old mortgage loans classified as “unpayable,” allowing properties to be transferred at nearly half their market value and deeds to be released free of charge. Edna Vega, Secretary of Agrarian, Territorial, and Urban Development, stated:

“We are restoring the state’s capacity to ensure that housing ceases to be a commodity and becomes a right.”