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(CNS): The inadequate provision of affordable homes through the National Housing Development Trust in the face of Cayman’s growing housing crisis was revealed in parliament this month. Premier André Ebanks has said housing is a priority for the government and a ten year policy will be released by the year-end. But over 2200 Caymanians are on the NHDT list, with some waiting for more than five years. Few private developers build homes that ordinary people can afford, and government is unable to meet the demand. Answering a question from Deputy Opposition Leader Kenneth Bryan about the number of people waiting for an affordable home through the NDHT, Infrastructure Minister Jay Ebanks, who has had responsibility for housing since April 2021, said that as of 30 September, there were 1,152 active applicants on the affordable housing waiting list. “When we include their household members, that represents around 2,200 Caymanians who are waiting for an opportunity to own a home,” he said. “We have to find a way to deliver homes as quickly as possible,” he said, but added that the NHDT “cannot build itself out of this problem”. He said that government would be engaging in public-private-partnerships to encourage developers to build low-cost homes. He said the government needed to figure out a way to engage in more PPPs, since contractors are now building high-end homes for the luxury market rather than building for the local market. “We know there were contractors at one point in time that were filling that gap that are no longer filling that gap,” he said. Ebanks said the government would only be able to deliver the amount of homes needed by working with the private sector, and that there would need to be legislative changes to make that happen more efficiently. However, he noted that people are struggling to afford even the government’s affordable homes. “There are hundred and hundreds of individuals that are going to need the help from the government going forward to be able to own a home,” he said. Ebanks also spoke about working with architects to come up with more efficient designs that can help people build their own homes more cheaply. In addition, the government will need to help more people raise the money to buy their own homes because the banks are reluctant to lend those who need it most. The cost of materials, labour, the price of land and other inflationary pressures, as well as the drive for profit, is now making homes unaffordable even for middle-class families. In addition, developers can make a much greater profits building for the high-end market in Cayman. Ebanks implied that the only way that the government is going to be able to navigate the growing housing crisis is to partner with the private sector. However, PPPs are notorious for delivering poor value for money and becoming embroiled in corruption.
