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{
    "id": 776282,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/776282/?format=api",
    "text_counter": 205,
    "type": "speech",
    "speaker_name": "Hon. (Dr.) Oundo",
    "speaker_title": "",
    "speaker": {
        "id": 13331,
        "legal_name": "Wilberforce Ojiambo Oundo",
        "slug": "wilberforce-ojiambo-oundo-2"
    },
    "content": "Secondly, the UN Habitat defines housing in terms of its affordability. The demand side of the equation arises from two perspectives, namely; per capita income and the cost of accessing housing finance. The Member for Alego Usonga has alluded to the fact that the amount of finance devoted to housing in this country has been low compared to other economies of equal size. This problem arises from the high appetite for domestic borrowing that the Government of the day has. The Government cannot be seen to be competing with its own people for financial resources from commercial banks. The Government will always out-compete its people because it has the muscle, it is sovereign and the risk of lending to the Government is low. Obviously, any typical banker dependent on short-term savings will tend to lend to the Government because of the security that comes with lending to the Government. Therefore, the finance mandarins and all technocrats in the housing sector need to implore upon the Government to reduce its appetite for domestic debt so that it can allow banks to devote much more money towards housing and other related factors."
}