When the PPP/C came to government in October 1992, 2,025 government apartments were dotted around the country but largely in urban areas. They were in ‘deplorable condition largely because of the political difficulty the PNC government confronted in adequately increasing rent in areas it considered its stronghold.’ (Housing Policy (1994) Central Housing and Planning Authority, Georgetown). Added to this, favouritism in allocating the apartments was rife, as a result of which many tenants failed to meet the obligation of $18 per month but expected the government to do maintenance. The economic decline of the period put paid to the housing largesse.
The economy tanked in the 1980s. Real GDP declined and the level of output in 1988 was only 68% of its 1976 level. At the same time, inflation was raging, with consumer prices increasing by 89% in 1989 and 65% in 1990. Largely because of the high interest rates, the New Building Society,
