Exposing "short sales" in government housing How did Hugo Chavez turn housing poverty into a voting base in the 2012 elections? The earthquake 4 months ago in Venezuela cost the most to supporters of "government intervention in housing construction" in the presidential office of that country. A magnitude 7 earthquake on the outskirts of Caracas this summer led to the collapse of 90% of 10 12-story towers. Now a research report by an American newspaper shows the low resilience of residential towers in Venezuela against earthquakes.

Exposing "short sales" in government housing How did Hugo Chavez turn housing poverty into a voting base in the 2012 elections? The earthquake 4 months ago in Venezuela cost the most to supporters of "government intervention in housing construction" in the presidential office of that country. A magnitude 7 earthquake on the outskirts of Caracas this summer led to the collapse of 90% of 10 12-story towers. Now a research report by an American newspaper shows the low resilience of residential towers in Venezuela against earthquakes.

These towers were all "supported housing" built by the government in 2012 just as Hugo Chávez needed the people's presence at the ballot box with a promise to build 3 million homes. The Venezuelan President's Office of Special Programs and Projects, which oversaw the construction of these towers, announced the priority of completing the towers "in a short time." This was one of the government's violations in providing subsidized housing. More details on the Housing Market Mitzpe channel.