2023-05-09 01:06:48
González explains that housing is once again valued as an important living space, since during the health crisis it was consolidated as a work and school center for familiessome of them remain in this modality and as places where economic activity is carried out.
In 2022, women represented 39.4% of the insured in the IMSS and 39.2% of the financing for housing was granted to them
The author highlights that women have gained great relevance, when analyzing, according to the 2020 Census of the National Institute of Statistics and Geography (Inegi)what women as heads of household in the home represent 33%, “but do they have access to credit to acquire, remodel or build a home? In 2022, women represented 39.4% of the insured in the Mexican Institute of Social Security (IMSS) and 39.2% of the financing for housing was granted to them”.
Regarding the acquisition of housing with mortgages, González details that “more than 181 thousand loans were granted to women, who They represent 40.1% of the total, marginally higher than the number of IMSS insured. He fovissste granted 57.3% of its loans to women, Infonavit 37.6% and banks 41%”.
Likewise, it reveals that women have access to smaller loans compared to men, the amount for them amounts to 994 thousand pesos while for women it is 902 thousand, which represents 9.3% less. “In Fovissste the difference is 5%, in Infonavit the difference between the average amounts is 10.8% and in banking it is 12.5%”which is explained by the difference that exists between the income of men and women.
The economist points out that in the study “The gender gap in financial inclusion in Mexico, it has remained at 7% since 2013; however, in the mortgage market it is observed that it is even more marked in terms of average credit amount”.
This is how he specifies that the Economic Commission for Latin America (ECLAC) confirms that between 2019 and 2022 female credit was lower by decreasing three percentage points and explains that there are several reasons; the first is that women focused more on home care, putting professional development on hold; Another reason is that they lost access to credit “by eliminating the acquisition subsidy program.”
In summary, González points out that the disparity in the mortgage market between men and women is due to “structural problems, such as the difference in income, access to the labor market and quality of jobs and, of course, financial inclusion” Therefore, it would be desirable to have public policies that favor women in this type of financing, which is fundamental to building wealth.
The article was published in The Economist on May 4, 2023 and can be consulted at this link.
#evolution #mortgage #financing #women