Real estate is not just about being wealthy, or rich, but how we can help, support and contribute to the distribution of scarce resources particularly homes for the marginalized sectors of our community. There is a need to address the concerns of the homeless, elderly, the poor, and sick, particularly the persons with disabilities (PWD).
In our present economic and real estate boom, construction frenzy, urban growth and hyper business activity, another type of attitude has grown; that of being greedy, craving for more and the creation of unnecessary needs, sadly, at the expense of others.
Owning a house and lot, condominium unit, or a dwelling place, has reached levels that a wage earner can no longer afford to buy.
The gap of rich and poor becomes wider and social injustice a mere word. The poor has been taken for granted, and there is neglect for these helpless people, since having the poor is a way of life in our society. It can be observed that the rights of the human persons and their dignity compromise, because they are being treated as if they were second class citizens.
The practice of social justice is transformed to a choice, a decision whether to be generous, fair, or an obligation, duty, by merely “giving out from the garbage of excess”.
However, the developers with good intentions are building housing projects but their margins and profits are getting thinner due to high cost of land, stiff competition, increased in taxes, salaries and wages, and possible increase in cost of construction materials, and therefore, the developers’ profits are getting depleted.
With these concerns, I can foresee the need for urban renewal, building, walk up condominiums, whereby developers can fractionalize the cost of land and sell the condominium units at affordable prices with Pag-IBIG financing schemes.
Furthermore, the rental market will be the best option for both the developers and would-be home owners. Renting will come out to be cheaper on a short term than owning.
In conclusion, land and wealth distribution can be achieved with the help of practice of social justice, responsibility, and government economic policy in assisting the developers and the private sectors to supply homes for the homeless.