by Ken Quintanilla

Guam - Ironwood Affordable Housing's Carlos Camacho spoke about his passion for building affordable homes on Guam and encouraged other developers to help build the inventory of homes for low-to-moderate income families on the island. Camacho was the guest speaker at the Rotary Club of Tumon Bay meeting today.

He said there is a need for more affordable housing on Guam and companies like his are doing their best to help meet the governor's goal of creating 3,000 new affordable homes over the next few years. He shared, "What I've been hearing from the banks is that they've been getting a lot of people who are interested in buying a home. But they're moderate income. They're the ones that are making $60,000, $70,000, but the problem is they're buying power is only $260,000-$270,000.

"On the developer side, I don't blame the developer for building the $400,000 home because the cost of building the cost of goods is going up. The cost of real estate is going up so somebody has to make a profit but there's a gap."