IMPACT OF C0VID-19 ON THE LOW-INCOME HOUSING MARKET SYSTEM IN PHILIPPINES

The low-income housing systems of the Philippines was already burdened with a 6.7 million housing backlog before COVID-19. However, COVID-19 is deepening the crisis further. In light of this issue, Terwilliger Center for Innovation in Shelter commissioned Innovision to conduct a rapid COVID-19 market impact assessment study to analyze the impact of COVID-19 on the housing market systems of the low-income population in the Philippines and to identify the challenges and opportunities for the housing market industry from the crisis to support the low-income households survive and thrive. The objectives of the study were as follows:

• To draw a clearer picture of how the unprecedented circumstances due to COVID-19 have affected the housing market systems of the Philippines.
• To identify the challenges and obstacles that the different housing market system actors at the national/macro level are facing due to the crisis.
• To identify the coping capacity (their savings, assets, loans, household income portfolio) and coping mechanisms/strategies (reduction in expenses, borrowing, liquidation of savings, etc.) that the different value chain actors are undertaking to cope up with the current crisis.
• To provide recommendations on how to deal with the crisis to prevent the collapse of the housing market systems and how to lessen the fatalities experienced due to the crisis to the housing market system actors.