Housing Finance Industry: Global Scenario

The need for affordable housing haunts almost all individuals across the globe. A house can be acquired through purchase, rent or self-help co-operatives and, above all, by inheritance. In the case of the last situation, the factor of affordability does not arise, as the property right transfers the ownership from the earlier progeny to the next.Developed countries provide subsidies for individuals who would either like to purchase a house or take a house on rent. As a matter of fact, developed countries offer a sound socio-economic system, where a house is acquired through the creation of a self-sustaining finance system. But both the systems depend on the demographics of the buyers and their levels of income. Hence, the affordability factor should be highly considered. In many developing countries, the creation of an adequate regulatory and legal framework is encouraged to deal with all aspects of mortgage finance. In order to cope with the problems of home loans, public housing finance systems or institutions are promoted especially in the developing countries. This book on housing finance aims to cover these aspects and provide the reader with useful insights on the housing finance market.