[PDF] Housing Finance In Emerging Markets eBook

Author : Loic Chiquier
Publisher : World Bank Publications
Page : 540 pages
File Size : 20,27 MB
Release : 2009
Category : Social Science
ISBN : 0821377515

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Housing finance markets have been changing dramatically in both emerging and developed economies. On the one hand, housing finance markets are expanding and represent a powerful engine for economic growth in many emerging economies. However, the unfolding sub-prime mortgage crisis highlights the risks and potential turbulence that this sector can introduce into the financial system when expanding without proper infrastructure and regulation. As housing finance keeps growing in emerging economies to match a rising demand for housing, new risk management approaches, business models, funding tools, and policy instruments can help. Yet many questions remain about the right balance between innovation and regulation, the extent of risks to the financial system, the appropriate role of the state to promote affordable housing, and the effects of the sub-prime crisis. This book provides a guide for policymakers dealing with housing finance in emerging markets. It highlights the prerequisites for an effective housing finance system; it lays out several policy alternatives and models of housing finance; and it explores the role of governments in expanding access to housing finance for lower-income households. There is no "best" model set out in this book. The aim is to provide a developmental roadmap that can be tailored and sequenced to each country's situation and timing.

Author : Doris Köhn
Publisher : Springer Science & Business Media
Page : 250 pages
File Size : 17,26 MB
Release : 2011-01-21
Category : Business & Economics
ISBN : 3540778578

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The growth of urban areas and population in middle and low income countries is a continuing trend. Urbanization expands as rural to urban migration offers better income opportunities in cities. This trend is both a source of development opportunities and challenges for the housing sector. On the one hand, housing is a large and growing market, and on the other, massive slums confirm the poor housing conditions in many developing countries. These adverse conditions mirror inadequate housing policies, inefficient or absent property registration, as well as limits to access to housing finance. Provision of affordable housing is therefore an important topic in the fight against poverty. This book focuses on solutions that improve the enabling environment for the poor in accessing housing finance. It explores how to develop and integrate housing finance into a sustainable financial system for developing countries and offers ways in which low-income families can obtain better access to housing finance. This book provides a conceptual framework for housing finance development and addresses practical solutions in the provision of housing finance and compares different approaches.

Author : Doris Köhn
Publisher : Springer
Page : 244 pages
File Size : 35,95 MB
Release : 2011-01-31
Category : Business & Economics
ISBN : 9783540778561

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The growth of urban areas and population in middle and low income countries is a continuing trend. Urbanization expands as rural to urban migration offers better income opportunities in cities. This trend is both a source of development opportunities and challenges for the housing sector. On the one hand, housing is a large and growing market, and on the other, massive slums confirm the poor housing conditions in many developing countries. These adverse conditions mirror inadequate housing policies, inefficient or absent property registration, as well as limits to access to housing finance. Provision of affordable housing is therefore an important topic in the fight against poverty. This book focuses on solutions that improve the enabling environment for the poor in accessing housing finance. It explores how to develop and integrate housing finance into a sustainable financial system for developing countries and offers ways in which low-income families can obtain better access to housing finance. This book provides a conceptual framework for housing finance development and addresses practical solutions in the provision of housing finance and compares different approaches.

Author : Franklin Allen
Publisher : Pearson Prentice Hall
Page : 214 pages
File Size : 48,29 MB
Release : 2012
Category : Business & Economics
ISBN : 0137011601

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Explains the financial history leading to the mortgage meltdown and assesses today's housing finance systems in the United States and abroad.

Author : Lo??c Chiquier
Publisher :
Page : pages
File Size : 12,7 MB
Release : 2013
Category :
ISBN :

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Despite its recognized economic and social importance, housing finance often remains underdeveloped in emerging economies. Residential lending remains small, poorly accessible, and depository-based. Lenders remain vulnerable to significant credit, liquidity, and interest rate risks. As a result, housing finance is relatively expensive and often rationed. The importance of developing robust systems of housing finance is paramount as emerging economy governments struggle to cope with population growth, rapid urbanization, and rising expectations from a growing middle class. The capital markets in many economies can provide an attractive and potentially large source of long-term funding for housing, and solutions to better allocate part of the risks. The advent of institutional investors is creating large and rapidly growing pools of funds that may facilitate the development of mortgage-related securities. Despite such a strong appeal, there are significant barriers to the development of mortgage securities in emerging markets. Their success is dependent on many factors, starting with a strong legal and regulatory framework and liberalized financial sector, and including a developed primary mortgage market. The experience in developing mortgage securities in emerging markets has been mixed. The authors review the experience of introducing mortgage securities in emerging markets and explore the policy issues related to this theme.

Author : Loïc Chiquier
Publisher :
Page : 43 pages
File Size : 24,40 MB
Release : 2016
Category :
ISBN :

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Despite its recognized economic and social importance, housing finance often remains underdeveloped in emerging economies. Residential lending remains small, poorly accessible, and depository-based. Lenders remain vulnerable to significant credit, liquidity, and interest rate risks. As a result, housing finance is relatively expensive and often rationed. The importance of developing robust systems of housing finance is paramount as emerging economy governments struggle to cope with population growth, rapid urbanization, and rising expectations from a growing middle class. The capital markets in many economies can provide an attractive and potentially large source of long-term funding for housing, and solutions to better allocate part of the risks. The advent of institutional investors is creating large and rapidly growing pools of funds that may facilitate the development of mortgage-related securities. Despite such a strong appeal, there are significant barriers to the development of mortgage securities in emerging markets. Their success is dependent on many factors, starting with a strong legal and regulatory framework and liberalized financial sector, and including a developed primary mortgage market. The experience in developing mortgage securities in emerging markets has been mixed. Chiquier, Hassler, and Lea review the experience of introducing mortgage securities in emerging markets and explore the policy issues related to this theme.This paper - a product of the Financial Sector Operations and Policy Department - is part of a larger effort in the department to provide housing finance information.