The Editor, Sir:

The National Housing Trust was established in 1976 to address the housing shortage which resulted from a growing population and the inadequate annual output of houses by the public and private sectors.

The Trust emerged out of the need for a financial institution that could mobilise additional funds for housing and ensure that those funds are available to more Jamaican families at rates below the traditional market rates. This institution was developed to allow poor, middle income contributors to be able to own a home. But somewhere along the line it seemed to have lost its sense of purpose.

Worried about my home

Mr Editor, I am a mortgagee and I am worried that I may lose my home in the future as this intuition seems to be taking on the role of a privately owned financial intuition. Last month an adjustment was made towards the late payment of mortgage and now our prime minister has announced that middle-income Jamaicans who benefit from NHT mortgages will pay up to 33.3 per cent more in interest rates on loans.

One would think that with the burdens being faced by our economy and its people because of the hike in prices, our policy makers would have found alternative means of financing their budget. At this point all I see for the future of the Jamaican people is hard times ahead until the next general election.

I am, etc.,

MARLON St. AUBYN

clever2g@yahoo.com

Via Go-Jamaica