The Assistant Manager, Marketing & Communications of The Millard Fuller Foundation has said that low-priced homes and affordable mortgage financing will make homeownership accessible to the common man.
Olugbemi stated this during an interview with Arise News Television correspondents at the 15th edition of the Abuja International Housing Show, which was held at the International Conference Centre, Abuja, on from the 26th to 29th of July 2021.
He noted that several persons are homeless in Nigeria because they can either not afford the high prices of houses available or cannot afford to enter a mortgage arrangement with the banks that would make repayment easy and accessible.
“The housing deficit in Nigeria is crazy, even though there is no concrete evidence to back up the scary number that is being bandied around. For houses to be accessible to the common man, the prices of houses must be low, and the common man must be able to quickly access an affordable mortgage financing to enable him to purchase the house,” he said.
On why the price of houses in Nigeria keeps rising, Olugbemi noted that this is not mainly the fault of developers, as the prices of building materials have been increasing rapidly, while the exchange rates have been unstable. He said that if these two concerns are addressed, the price of the homes will become truly affordable.