Housing Shortage Debate
A prominent banker, Gowon Bowe, chief executive of Fidelity Bank (Bahamas), claims that The Bahamas does not have a housing shortage.
According to the latest Housing Census, there are over 25,000 vacant residential dwellings, which supports Bowe's position.
The Bahamas doesn’t have a housing shortage
Bowe believes that returning these vacant properties to "productive" use and occupation would be more beneficial for the Bahamian economy and society than constructing more affordable homes.
- Keith Bell, minister of housing and urban renewal, previously stated that The Bahamas has a shortage of over 12,000 residential units.
- Bowe argues that the latest data from the Bahamas National Statistical Institute (BNSI) raises questions about the basis of this claim, whether it is based on "economic analysis" or "emotion".
Author's summary: Banker disputes housing shortage claims.