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72.1% Of Puerto Ricans Own Homes, 4.1% More Than In The U.S.

Rossello Attributed The Fact To Distribution Of 42,488 New Low-Income Homes During His Tenure

by Proviana Colon Diaz

May 24, 2000
Copyright © 2000 PuertoRicoWOW NEWS SERVICE. All Rights Reserved.

Federal statistics reveal that 72.1% of Puerto Ricans living on the island own homes, 4.1% more than residents in the U.S., both Gov. Pedro Rossello and U.S. Department of Housing and Urban Development (HUD) Deputy Secretary Saul Ramirez said Wednesday.

Both Rossello and Ramirez made their statements at the 8th Social Interest Housing Congress at the Condado Plaza.

The fact that Puerto Rico is above the national statistic for people owning homes is owed to several factors, including the distribution of 42,488 new homes for low-income people, Rossello said.

The homes are part of a campaign pledge by the governor, who during his first four years in office promised that 20,000 new homes would be built, and 30,000 homes during his second term in office. A total 42,488 homes have been built so far, or 84% of the goal, Puerto Rico Housing Secretary Carlos Gonzalez said.

A new federal bonds issue in June will finance construction of approximately 6,000 more homes, Gonzalez said.

Rossello added that the government was able to build the new homes with six federal bond issues totaling $264 millions but also said the goal was achieved thanks to interest by private contractors.

"I want to stress that a factor for the success of this endeavor has been the commitment and dedication of the construction industry," said Rossello.

The governor added that 10% of the homes have been given to the elderly and low-income residents.

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