Another Scapegoat

Director of Portafolio 03.27.2026 11:47 Updated: 03.27.2026 11:47

Another Scapegoat

TL;DR

  • The Colombian government's approach to the housing crisis involves blame-shifting and policy decisions that worsen the situation.
  • President Petro's characterization of homebuyers as "idiots" and his blame of the construction sector or the central bank for rising housing costs are seen as a superficial understanding of the issues.
  • The high cost of mortgage credit is directly linked to the government's own high borrowing costs due to fiscal deficit and increased public debt.
  • Instead of addressing fiscal realities, the government confronts the central bank and discredits industry groups.
  • Dismantling housing programs like Mi Casa Ya and Semillero de Propietarios has reduced access to housing for low-income families.
  • The current situation is a "perfect storm" of expensive state financing, high mortgage rates, and reduced public support for housing.
  • The government's focus on symptoms rather than the underlying fiscal and policy issues is making housing a luxury rather than a right.