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Author : OECD
Publisher : OECD Publishing
Page : 316 pages
File Size : 51,8 Mb
Release : 2005-08-10
Category : Electronic
ISBN : 9789264010178
A comprehensive issue-by-issue and country-by-country study of housing markets and housing finance markets in Central and Eastern Europe.
Author : Anonim
Publisher : Unknown
Page : 0 pages
File Size : 45,6 Mb
Release : 2005
Category : Electronic
ISBN : 9264010165
Author : Takahiro Yasui,Organisation for Economic Co-operation and Development
Publisher : OECD Publishing
Page : 212 pages
File Size : 51,9 Mb
Release : 2002
Category : Political Science
ISBN : UCSD:31822031120231
Provides the first in-depth survey of the current situations and challenges of the development of housing finance in the major transition economies such as: the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, the Slovak Republic and Slovenia. Also includes current trends in housing finance of advanced market countries and their implications on transition economies.
Author : Doris Köhn,J. D. Pischke
Publisher : Springer Science & Business Media
Page : 244 pages
File Size : 43,7 Mb
Release : 2011-01-21
Category : Business & Economics
ISBN : 9783540778578
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 : Loic Chiquier,Michael J. Lea
Publisher : World Bank Publications
Page : 540 pages
File Size : 55,5 Mb
Release : 2009
Category : Social Science
ISBN : 9780821377512
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 : Jens Lunde,Christine Whitehead
Publisher : John Wiley & Sons
Page : 488 pages
File Size : 53,9 Mb
Release : 2016-01-08
Category : Business & Economics
ISBN : 9781118929445
This book provides evidence on how housing finance markets developed across Europe. The objective of the text is to bring together up to date material from across Europe which will help to clarify (i) how national housing finance markets have dealt with the challenges of deregulation and privatisation since the 1980s,(ii) how the financial crisis has impacted on the structure of the industry and the range of financial instruments available, (iii) how governments and the EU have responded to increasing risks and higher indebtedness in most West European countries and the need to grow new finance markets in Eastern Europe, and (iv) how changing housing finance markets impact on the capacity to provide adequate affordable housing into the future.
Author : Danny Ben-Shahar,Charles Leung,Seow-Eng Ong
Publisher : John Wiley & Sons
Page : 312 pages
File Size : 52,6 Mb
Release : 2009-01-28
Category : Business & Economics
ISBN : 9781444302318
The book provides a theoretical and empirical evaluation ofdifferent housing finance systems, presenting a collection ofstudies that describe various aspects of selected mortgage marketsaround the world. The uniqueness of the chosen markets lies in thefact that they represent not only different regions around theglobe (Africa, the Middle East, Asia, and Eastern Europe), but alsounderstudied markets in different stages of economic and financialdevelopment. This book examines questions relating to housingfinance efficiency and contract heterogeneity. In addition, itanalyses the securitization experiences in these countries toprovide lessons on how mortgage markets are integrated with capitalmarkets and how particular institutional framework interacts withmortgage markets. Short reviews are provided for each of the selected mortgagemarkets. The review will include institutional aspects of themarkets such as: the size and structure of the market (includingflows and accumulation of funds); a description of the competitionand a presentation of the major competitors (including marketshare, major financial measures, etc.); profitability in themarket, trends, structural changes, the major mortgage instrumentsand their market share, special tax issues, the role of thegovernment in the market, defaults, prepayments, mortgageinsurance, and major regulatory issues. The analysis explores the major existing problems in the mortgagemarket of each country, the current steps adopted to solve theseproblems, possible propositions for dealing with the major issuesin the future, and the implied future developments anticipated inthe market.
Author : Colin Jones,Michael White,Neil Dunse
Publisher : John Wiley & Sons
Page : 337 pages
File Size : 55,7 Mb
Release : 2012-03-05
Category : Law
ISBN : 9781118280836
This timely book addresses key challenges faced by policy makers and the house-building industry in a post-credit crunch world. It examines the implications for households, the housing market, the economy, as well as for government's policy choices. Challenges of the Housing Economy: an international perspective brings together experts from around the world to examine recent housing market trends. The contributions reveal common long-term trends in housing markets worldwide. Despite differences in supply conditions and the role of planning, there is a trend toward rising house prices that has created significant barriers to home ownership for young households while increasing the wealth of older generations. The financial crisis had a differential impact on housing markets but in many countries where mortgage finance became severely constrained, house prices fell and there was a dramatic fall in housing construction. The falls in house prices in these countries have ostensibly improved affordability but the housing markets have been dominated by the lowering of loan to values applicable to new mortgages which has further raised the hurdles to potential first-time purchasers. At the same time as young households are increasingly rationed out of owner-occupation, public sector expenditure cut-backs in many countries result in limited new social housing. Instead, value for money imperatives will mean new funding models for affordable housing that require greater use of public-private partnerships. The private rented sector could potentially meet the demand for the new generation of long-term renters. However, there are doubts - in the UK at least - that this sector will be able to expand significantly or provide an appropriate type and standard of housing. This is an essential advanced text for students and researchers of land economy and land management; property and real estate; housing policy; and urban studies.
Author : Doris Köhn,J. D. von Pischke
Publisher : Springer
Page : 244 pages
File Size : 40,9 Mb
Release : 2011-01-31
Category : Business & Economics
ISBN : 354077856X
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 : P. Arestis,P. Mooslechner,Karin Wagner
Publisher : Springer
Page : 269 pages
File Size : 49,6 Mb
Release : 2009-11-18
Category : Business & Economics
ISBN : 9780230246980
Housing finance structures and Institutional and regulatory/fiscal aspects in housing have changed significantly in recent years. This book examines the development in housing markets in Europe and the US, and looks at ways to make housing more affordable and housing market developments more stable.
Author : J. Michael Lea
Publisher : Unknown
Page : 128 pages
File Size : 47,7 Mb
Release : 1999
Category : Electronic
ISBN : OCLC:913715581
September 1995 Problems of developing specialized financial services for housing are acute in socialist economies in transition. Contractual savings for housing (CSH) are often advocated in Central and Eastern European countries as a primary solution. CSH systems were indeed used successfully in Europe for reconstruction after World War II. The issue today is what role CSH can play under very different financial conditions in latecomer countries that want to develop competitive and flexible financial systems capable of successfully integrating with the global financial markets. Problems of developing financial services for housing are acute in transitional socialist economies. Lea and Renaud examine contractual savings for housing (CSH), which are often advocated as a primary solution, especially in Central and Eastern European countries. A CSH instrument links a phase of contractual savings remunerated at below-market rate to the promise of a housing loan at a rate also fixed below market at the time the contract is signed. This contract can contain a variety of options. CSH were used very successfully in Europe after World War II. The issue today is not whether such specialized instruments can work. They clearly can under low inflation. The issue is whether CSH systems are advisable today in latecomer countries with vastly different financial technology and financial policy environments. Lea and Renaud focus on two influential CSH systems: the closed German Bauspar system and the open French épargne-logement. In a closed CSH system, access to a housing loan is based on queuing: a loan can be made only if funds are available in the specialist institution. In an open system, the saver can legally call his or her loan at contract maturity, regardless of the liquidity conditions in the CSH system. From the perspective of households, CSH contracts facilitate the accumulation of equity and offer the prospect of a low-interest loan. They promote savings discipline and provide a concrete goal that many households find important. But CSH instruments leave the objective of providing a primary loan unmet. In addition, even moderate inflation quickly leads to very low loan-to-value ratios for CSH loans and a large financing gap for housing purchases. From the perspective of financial institutions, CSH can help overcome the severe information asymmetries they face in transitional socialist economies, where there are no retail financial markets, no credit bureaus, and problematic income reporting. CSH are very effective in screening, monitoring, and establishing the reputation of steady savers as future borrowers, and they are good at lowering credit risks. With their saving periods of four to five years, CSH also help bridge the gap between long-term loans and short-term deposits. Finally, CSH can be an important commercial tool for developing cross-lending activities. But CSH can be risky. When the interest rate on outstanding contracts is low compared with current market rates, holders of mature contracts will want to call their loans. And new savers will be reluctant to sign on at very low contract rates. Eliminating this liquidity risk with a closed CSH system erodes the attractiveness of CSH. From the perspective of government, a CSH instrument can work in a noninflationary environment, yet a CSH system would have no justification in fully developed and competitive financial markets today. CSH instruments can play a useful but not a dominant role in housing finance. After stabilization, they can provide additionality, overcome information constraints on financial contracts, and contribute to higher financial savings rates. CSH instruments are best used to finance home improvements. They can also be used as part of a social policy to reach targeted social groups. This paper -- a product of the Financial Sector Development Department -- is part of a larger effort in the department to develop sustainable housing finance in transition economies.
Author : Michael J. Lea,Bertrand Renaud
Publisher : World Bank Publications
Page : 68 pages
File Size : 50,8 Mb
Release : 1995
Category : Electronic
ISBN : 8210379456XXX
Author : Anonim
Publisher : Elsevier
Page : 3870 pages
File Size : 42,7 Mb
Release : 2012-10-09
Category : Social Science
ISBN : 9780080471716
Available online via SciVerse ScienceDirect, or in print for a limited time only, The International Encyclopedia of Housing and Home, Seven Volume Set is the first international reference work for housing scholars and professionals, that uses studies in economics and finance, psychology, social policy, sociology, anthropology, geography, architecture, law, and other disciplines to create an international portrait of housing in all its facets: from meanings of home at the microscale, to impacts on macro-economy. This comprehensive work is edited by distinguished housing expert Susan J. Smith, together with Marja Elsinga, Ong Seow Eng, Lorna Fox O'Mahony and Susan Wachter, and a multi-disciplinary editorial team of 20 world-class scholars in all. Working at the cutting edge of their subject, liaising with an expert editorial advisory board, and engaging with policy-makers and professionals, the editors have worked for almost five years to secure the quality, reach, relevance and coherence of this work. A broad and inclusive table of contents signals (or tesitifes to) detailed investigation of historical and theoretical material as well as in-depth analysis of current issues. This seven-volume set contains over 500 entries, listed alphabetically, but grouped into seven thematic sections including methods and approaches; economics and finance; environments; home and homelessness; institutions; policy; and welfare and well-being. Housing professionals, both academics and practitioners, will find The International Encyclopedia of Housing and Home useful for teaching, discovery, and research needs. International in scope, engaging with trends in every world region The editorial board and contributors are drawn from a wide constituency, collating expertise from academics, policy makers, professionals and practitioners, and from every key center for housing research Every entry stands alone on its merits and is accessed alphabetically, yet each is fully cross-referenced, and attached to one of seven thematic categories whose ‘wholes' far exceed the sum of their parts
Author : Jens Alber,Tony Fahey,Chiara Saraceno
Publisher : Routledge
Page : 447 pages
File Size : 55,5 Mb
Release : 2007-10-15
Category : Business & Economics
ISBN : 9781134095940
Recent enlargement to the east made the European Union a more diverse social space and brought it into more direct contact with the social and cultural aftermath of communism. The purpose of this book is to help social scientists, policy makers and other observers cope with the unfamiliarity of this new world by bringing together a collection of informative analyses of key domains of social life in the new member states and candidate countries, viewed in comparison both to each other and to the 'old' EU-15. The focus is on social conditions, such as social exclusion, poverty and living conditions, work and labour markets, family and housing. But is also offers accounts of the institutional contexts within which these conditions arise. The analyses makes use of a range of data, including a new data source, the European Quality of Life Survey 2003.
Author : Dwight M. Jaffee,Bertrand Renaud
Publisher : Unknown
Page : 38 pages
File Size : 42,6 Mb
Release : 1996
Category : Financial institutions
ISBN : UCSD:31822023572654
