Smith: Govt. housing programme may be a mistake

video
play-sharp-fill
00:38
James Smith.

Former state minister of finance and governor of the Central Bank James Smith , raised concerns about the government’s highly touted aggressive housing programme.

The plan, once approved, will allow first-time home owners who qualify to purchase lots for $30,000. Owners will then, according to government, have two to three years to complete their homes and will receive tax concessions for construction.

Smith said he sees the plan adding to an already complex mortgage crisis. Further, the former state finance minister reasoned that while the demand for homes is great, many do not qualify.

video
play-sharp-fill
00:41

About Genea Noel

Genea Noel is the news director and weeknight TV news anchor at Eyewitness News. She began working at Eyewitness News in 2018 as the newsroom editor and was subsequently promoted during her tenure. As a household name who graces the screens of thousands of Bahamian homes each night, Genea has racked up an impressive five Bahamas Press Club awards, including “The Cyril Stevenson Award for Outstanding Political Journalism” (2020), “Best Studio Live Producer” (2020) and “Best Newscast” (2018).