Mexico City's Young Adults Face Housing Crisis

Saul Lara, a college student in Mexico City, starts his day early — very early. His commute to school takes over two hours, as he rides a motorcycle taxi and crams into the metro. The reason? He can't afford to live close to campus. Lara works part-time to make ends meet, but even with his meager income, finding affordable housing is still a challenge. The capital city has a serious housing shortage, with estimates suggesting a need for over 800, 000 more homes. The problem is so severe that about 100, 000 people leave the city each year due to unaffordable housing. Mexico City's new mayor, Clara Brugada, is looking into ways to make housing more accessible for young people. Her plans include opening up more rental options with the chance to buy. Soaring house prices and rents are making it tough for young adults like Lara. In popular neighborhoods, rent can exceed $1, 000 a month, which is four times the average salary in the city. Daniela Sanchez, a housing lawyer, blames recent policies that treat housing as a luxury item, which has led to skyrocketing rents. She believes the pandemic, gentrification, and tourism have also played their parts.

The city has started to fight back, capping rent increases to match inflation and limiting Airbnb rentals. But critics argue that more needs to be done. Marcela Heredia suggests creating a subsidized housing market for the less fortunate, instead of relying solely on the traditional market. Leopoldo Hirschhorn points out that the city's low density could also be a problem. He believes constructing taller buildings could increase the housing supply. Things might be looking up, though. The city has begun building social housing units for students, which won't exceed 30% of their income. More subsidized housing is planned. Ale Razo, a graphic designer, sees the situation improving. She believes the city's steps towards more affordable housing are a reason for young people to hope. Lara, like many young adults, is feeling the strain. But with new efforts underway, maybe affordable housing isn't just a dream for him and others in Mexico City.

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