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

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.