The study of the Walmer Links Finance Linked Individual Subsidy (FLISP) is the response to the housing backlogs that have been experienced by the Port Elizabeth area. The ownership programme is the first of its kind in the area and has been met with scepticism, revolt and acceptance as the neighbouring township of Walmer and the nearby suburbs had mixed feelings about the project. The overall feeling and experience of the new FLISP owners far exceeds the scepticism around the project. The project also brought racial integration and improved the quality of life for the poor. It also seems as though the success of the project will be the determinant factor of whether it can rolled out to other provinces as an approach to development and poverty alleviation.

No description available.

Over the last decade, the United States had experienced a boom and bust in the subprime mortgage market. The ups and downs of the subprime mortgage market became a primary factor triggering the most severe global economic recession since the Great Depression. The dissertation contributes to the literature by inquiring whether the subprime lending has exacerbated social inequity between subprime neighborhoods and other neighborhoods, through analyzing the subprime mortgage market in the Philadelphia MSA from 2000 through 2010, and focusing on two research questions: (1) the spatial distribution of subprime mortgages across census tracts; (2) the relationship between subprime intensities and housing price variations across zip-code areas. As the dissertation's study area expands from an urban to a MSA, spatial heterogeneity merits attention in this relative huge area. As a result, this dissertation not only employs a global, Ordinary Least Squares (OLS) model, but also a local, Geographically Weighted Regression (GWR) model to examine spatial variations across different neighborhoods. For the first research question, the dissertation finds: (1) a higher concentration of higher-priced mortgage for purchase and refinance in tracts with higher proportion of African-American and Hispanic residents, lower median household incomes, higher-unemployment rates, lower self-employment rates, and higher capitalization rates, after controlling for other variables; (2) the association between higher-priced mortgages and explanatory variables varies across census tracts. Because the dynamics of neighborhood subprime originations are heterogamous, the association between subprime mortgage origination and socioeconomic characteristics may be stronger in some neighborhoods than other neighborhoods. For the second research question, the dissertation finds: (1) subprime mortgage shares have a significant negative association with housing price appreciations during the housing boom period (2001-2006); (2) subprime mortgage shares have a significant positive association with housing price depreciations during the housing bust period (2006-2010); and (3) the association between housing price variations and explanatory variables differs across geographic submarkets within the Philadelphia region. The result confirms that areas where more residents obtained subprime mortgages have suffered more severely than other from the housing market's ups and downs over the last decade. The empirical results can draw broad policy implications. The primary implication is that it is time for the federal government to rethink its homeownership policy. Increased homeownership levels arising from the expansion of subprime mortgages are not sustainable, and subprime lending has exacerbated social inequity between subprime neighborhoods and other neighborhoods. The second implication is that the government needs to enforce the fair lending laws, because the cluster of subprime mortgage origination reflects the unequal opportunities of prime mortgage accessibility across different neighborhoods. The third implication is that the government needs to promote place-based policy making. As the GWR demonstrates, the dynamics of the mortgage market and housing market are uneven across different neighborhoods. Therefore, place-based making can increase the efficiency of public policy. These implications based on the dissertation's empirical results are helpful for designing more efficient, effective, and sustainable housing policies of the United States. / Urban Studies

This study investigated factors affecting housing finance supply in Nigeria. Housing finance is a major factor determining the quality and tenure of housing consumption, the overall financial portfolio of the public and the stability and effectiveness of the financial system. In both developed and emerging economies, sovereign governments have intervened in the markets by setting up institutions characterised by a significant degree of regulation and segmentation from the rest of the financial markets and very often with governments providing subsidised housing finance. Attempts were made to develop an empirical model to reveal the underlying factors affecting housing finance in Nigeria. Time series data from sampled Universal Money Deposit Banks (UMDBs) balance sheets between 2003 and 2007 were used to assess the ability of the financial institutions to engage in long-term lending. Additional instruments in form of questionnaire, for the sectoral allocation of loans and advances by these financial institutions were employed to gather information from Corporate Banking / Loans and Advances Managers coupled with unstructured interviews. Supplementary questionnaires were directed to the users of housing finance at the household level as control for validity to the research findings. Applying a multiple regression approach, the model identified that housing finance supply in Nigeria is significantly driven by clusters of factors related to share capital and the reserves of the financial institutions. It is closely observed that housing finance models in the developed economies, which are largely financed by deposit liabilities, cannot be wholly adopted in the emerging economies. The implication for practice therefore is that financial institutions in the emerging economies must adequately increase their capital base for effective housing finance supply and introduce mortgage products with long-term tenure to actively mobilise resources for mortgage lending.

In most developing countries, housing finance and mortgage lending are undergoing changes driven by financial deregulation policies, which include interest rate decontrol and privatization. In this study, we analyze detailed residential mortgage data from housing finance institutions (HFIs) in Kenya, to determine the impact of deregulation on loan performance. Using a hazard model, we find that interest rates, real Gross Domestic Product (GDP), exchange rate, and deregulation are significant in explaining the hazard of mortgage delinquency. We use a before and after deregulation framework to analyze the influence of deregulation on the probability of mortgage delinquency, and find that the number of delinquent loans increased after deregulation, the duration of loans from time of loan origination to time of delinquency decreased, and that loan repayment was also faster after deregulation. The study concludes that deregulation increased both the probability of delinquency as well as the probability of loan prepayment in Kenya. Our interpretation of the results is that, borrowers reacted to increasing interest rates, trigger events, and availability of cheaper funds elsewhere, while lenders reacted to increased competition introduced by deregulation by adopting more flexible credit risk analysis as well as teaser rates to attract demand. Given the scarcity of literature relating to mortgage finance in sub-Sahara Africa, this study provides valuable insight into the current lending environment, feasibility of future lending, and includes suggestions for improvement.

Made available in DSpace on 2016-04-26T20:48:55Z (GMT). No. of bitstreams: 1 Luiza Betina Petroll Rodrigues.pdf: 1199769 bytes, checksum: 8deb5f2d38e3d60fdc31fd3e68e43fe0 (MD5) Previous issue date: 2009-05-15 / This work aims at analysing the evolution of brazilian housing finance in the light of existing literature and models adopted by other countries, to check the potential of housing credit growth in the next years. The main conclusions of this work are two. First, recent macroeconomic stability and important institutional change created a favourable scenario for housing credit growth, despite the fact that there are still important questions to be addressed specially juridical security. Secondly, even if these questions are solved and that housing credit becomes significantly cheaper than it is today, it will not be able to solve, alone, the problem of housing deficit. This problem requires extra effort in the form of subsidies, and, for extremely poor families, housing finance in the usual sense may not be the best answer / Este trabalho tem o objetivo de analisar a evolução do financiamento habitacional brasileiro à luz da literatura existente e de modelos já adotados por outros países, a fim de verificar o potencial de crescimento do crédito habitacional no país nos próximos anos. As principais conclusões deste trabalho são duas. Primeiro, a recente estabilidade macroeconômica e algumas importantes mudanças institucionais criaram um cenário propício para o crescimento do crédito habitacional, ainda que persistam importantes questões a serem resolvidas, principalmente em termos de insegurança jurídica. Em segundo lugar, ainda que estas questões sejam resolvidas e que o crédito se torne significativamente mais barato que é hoje, ele não será capaz de resolver, sozinho, a questão do déficit habitacional. É necessário um aporte significativo de recursos públicos, e, para segmentos de renda extremamente baixos, é possível que o crédito habitacional não seja a melhor solução

Thesis (Ph.D.)--Massachusetts Institute of Technology, Dept. of Urban Studies and Planning, 1980. / MICROFICHE COPY AVAILABLE IN ARCHIVES AND ROTCH. / Includes bibliographical references. / by Lynne Beyer Sagalyn. / Ph.D.

A common strategy in dealing with housing shortages is the provision of loans to low-income groups. Tried in many countries for a very long time, this approach has produced a common phenomenon - poor servicing of loans. Thus, an empirical study was undertaken in Namibia, using the country's Build Together Programme as a case study. The aim of the study was to understand how the livelihood circumstances of the beneficiaries might be contributing to their inability to meet their loan obligations. The BTP's beneficiaries and the housing officers at both local and national level constituted the study's respondents. Housing officers responded to questions in an interview schedule while the beneficiaries were engaged using an interviewer-administered questionnaire. All beneficiaries were purposefully identified on account of outstanding arrears on their loans. Reviewing of literature covered the challenge of urban housing and strategies used to address it at both global and national level, documentary analysis on government documents to provide information on establishment of BTP and lastly, the direct observation of the concerned sites. The study focused on BTP in Windhoek (WHK) particularly in two settlements, Katutura (a formal settlement) and Goreangab (an informal settlement). Poor servicing of loans was shown to be closely associated with the socio-economic circumstances of the beneficiaries. This suggests the importance to recognise that housing is not just about the physical structure called a house, but there are other more subtle but equally important considerations that need to be met. Issues such as reliance on wage labour and large household sizes combined in ways that placed limitations on their ability to service the loans. An important conclusion from the study is that understanding beneficiary' constraints and their livelihood strategies might be a very important step in future housing policy actions in Namibia. The study also highlighted concerns about the programme such as inadequate communication. Some recommendations are provided, prominent among them being the need to strengthen the training component so as to assist the beneficiaries with some of the issues, The study consists of two components: A and B. Component A comprises the study background, the problem statement, aim, objectives, literature review and methodology. Component B is presented as a research paper for publication purposes and complies with the requirements of the selected journal (Appendix six). For the purposes of the paper, relevant information from component A on the purpose of the study and methodology are incorporated in Component B. / Thesis (M.Env.Dev.)-University of KwaZulu-Natal, Pietermaritzburg, 2005.

Made available in DSpace on 2009-11-18T19:01:10Z (GMT). No. of bitstreams: 1 pgranja.pdf: 815899 bytes, checksum: c17c5a2d3fd11d07abe1c24d04c1d8c1 (MD5) Previous issue date: 2008 / In 1964, year of the military coup, the Brazilian government established a housing finance system with the intention of reducing the housing shortage that had been going on for decades. In order to reach this goal, the government created the Housing Finance System (acronym in Portuguese ¿ SFH), a set of rules which intended to set up a regulated market through standardized contracts and compulsory sources of funds. The system survived for some time, due to the state control of prices and salaries in the authoritarian regime. However, the increasing inflationary pressure obliged the government to adopt a populist subsidy policy, which left as a consequence outstanding balances at the end of the contracts that very often exceeded the value of the financed units. The solution adopted was to create a fund to settle these residual balances. Such fund should be capitalized by the government and by compulsory contributions from borrowers and financial institutions. Since the government did not make such contributions, the debt of this fund increased on a yearly basis, reaching around 3,5 % of Brazil¿s GDP in December 31, 2006. Due to the decline of private investments in the housing finance system, this debt concentrated mostly on public and state-owned companies, government agencies and public funds. The outcome of this policy was the Salary Variations Compensation Fund (acronym in Portuguese ¿ FCVS), which has a negative net equity of 76 billion reais and costs 100 million reais per year to be managed, and whose main creditor is the Federal Government itself. / Em 1964, o governo militar recém estabelecido criou um sistema de financiamento de habitações com o escopo de reduzir o deficit habitacional, que há décadas se arrastava. Para atingir tal objetivo, foi criado o Sistema Financeiro da Habitação - SFH, um conjunto de normas que tinha a pretensão de criar um mercado regulamentado através de contratos padronizados e fontes compulsórias de recursos. Com o controle estatal de preços e salários vigente durante o período autoritário, o sistema conseguiu manter-se por algum tempo. Porém, a escalada inflacionária obrigou o governo a adotar uma política populista de subsídios, que teve como conseqüência saldos devedores residuais ao fim do prazo dos contratos, cuja magnitude não era acompanhada pelo valor dos imóveis que garantiam as operações. A solução adotada foi criar um fundo para quitar esses saldos residuais. Tal fundo deveria ser capitalizado pelo governo e por contribuições compulsórias dos mutuários (tomadores de empréstimos) e dos agentes financeiros, porém além de o governo não honrar tal compromisso, a dívida desse fundo foi aumentando a cada ano, atingindo em 31/12/2006 algo em torno de 3,5% do PIB. Com a queda dos investimentos privados no setor habitacional, essa dívida foi se concentrando, na sua maior parte, em empresas públicas, estatais, autarquias e fundos públicos. O resultado final dessa política foi o FCVS ¿ Fundo de Compensação de Variações Salariais, um fundo com patrimônio líquido negativo de R$ 76 bilhões, que custa R$ 100 milhões/ano aos cofres públicos para ser administrado e tem como maior credor a própria União.

Orientador: Leandro Silva Medrano / Tese (doutorado) - Universidade Estadual de Campinas, Faculdade de Engenharia Civil, Arquitetura e Urbanismo / Made available in DSpace on 2018-08-23T09:55:00Z (GMT). No. of bitstreams: 1 Assumpcao_MarinadeCamargo_D.pdf: 17990548 bytes, checksum: 842281fec37ee83b2ff2f09e30b41387 (MD5) Previous issue date: 2013 / Resumo: A primeira década do século XXI presenciou grandes avanços em relação à reforma urbana no Brasil, tais como a formulação de programas abrangentes direcionados à habitação de interesse social; a criação de novos instrumentos jurídicos e institucionais de suporte às cidades; a ampliação das políticas públicas direcionadas a minimizar as desigualdades sociais e territoriais; o incentivo à participação da sociedade junto aos interlocutores das políticas urbanas, e inéditos investimentos destinados à moradia popular e à infraestrutura. Entretanto, poucos foram os benefícios à qualidade urbana das cidades brasileiras, principalmente nas áreas destinadas às habitações populares. Um dos principais instrumentos de estímulo à inovação e à evolução qualitativa no campo da arquitetura e do urbanismo são os concursos de projeto. O concurso é uma oportunidade para os profissionais realizarem seus trabalhos sem restrições ou interferências do setor público ou do mercado, o que deveria possibilitar avanços significativos à disciplina, tanto em seus procedimentos práticos quanto teóricos. Destarte, o objetivo desta tese de doutorado é verificar, em exemplos nacionais recentes, a relação entre concursos de arquitetura e a evolução das habitações de interesse social construídas. Para tanto, o Concurso "Prêmio Caixa IAB", dos anos de 2004, 2006 e 2008/2009, foi investigado como estudo de caso. A hipótese levantada é que os resultados dos projetos vencedores dos concursos apresentam soluções inovadoras em relação à produção do campo habitacional brasileiro, entretanto, sem lugar no atual sistema nacional de produção. As discussões provenientes das análises realizadas e o confronto com a hipótese central enunciada fundamentam as conclusões finais deste trabalho e devem constituir, à prática projetiva ou à teoria, fundamentos que contribuam com a qualidade da produção contemporânea / Abstract: The first decade of the 21st century witnessed great developments in urban reform in Brazil, such as the formulation of a wide range of programs focused on social housing; the creation of new legal and institutional tools to support cities; the expansion of public policies to minimize social and territorial disparities; the incentives to society's participation together with the interlocutors of urban policies, and unheard of investments destined to popular housing and infrastructure. However, there were few benefits to the urban quality of Brazilian cities, mainly to the areas assigned to popular housing. One of the main tools to foster innovation and qualitative development in the field of architecture and urbanism is the project contest. The contest is an opportunity for professionals to develop their work with no restriction or interference from the public sector or market, which would enable significant advances to the discipline, in its practical procedures as well as theoretical. Thus, the objective of this doctorate thesis is to verify, with recent domestic examples, the relation between architecture contests and the development of already built social housing. For that, the contests "Caixa IAB Award" from 2004, 2006, and 2008/2009, were investigated as case studies. The hypothesis arisen is that the results of winning projects show innovative solutions to the production of the Brazilian housing field despite having no place in the present domestic production system. The discussions originated from analyses performed and the comparison with the central hypothesis enacted base the final conclusions of this work and should establish, to the projective practice as well as the theory, principles that contribute to the quality of contemporary production / Doutorado / Arquitetura, Tecnologia e Cidade / Doutora em Arquitetura, Tecnologia e Cidade