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“…The links between housing investments and economic development have been established for many regions at different periods of time (Chen and Zhu 2008;Terzi and Bolen 2007;Doling et al 2013). In developed countries, the construction sector is viewed as a large contributor to economic activity and job creation.…”
Section: Housing Construction As An Economic Opportunity and Source Omentioning
confidence: 99%
“…The social development aspect of housing is recognized by Goal 11 of the 2030 agenda for sustainable development: "Make cities and human settlements inclusive, safe, resilient, and sustainable." The literature has established clear links between housing conditions and social outcomes, including health, social belonging, education outcomes, social security, and satisfaction with living conditions (Doling et al 2013;Thomson and Pettigrew 2005). Using data from the Demographic and Health Surveys and the Mo Ibrahim Foundation, we find a clear positive correlation (0.32) in Africa, between the percentage of households living in poor-quality housing and the rates of child mortality ( Fig.…”
Section: Housing Deficits In Africa: a Human Right And Social Developmentioning
Owning a decent house is still an unattainable goal for many African households. The lack of affordable housing finance, high costs of urban land and weak tenure security, rising construction costs, and prevalence of slums are major challenges to efforts to alleviate the continent’s housing crisis. This chapter provides the reader with a comprehensive overview of the continent’s housing market dynamics. In particular, the chapter shows the importance of the housing sector in African economies. It identifies the key constraints to the sector’s development, and the outlook for the market, as well as opportunities and bottlenecks in terms of governance.
“…The links between housing investments and economic development have been established for many regions at different periods of time (Chen and Zhu 2008;Terzi and Bolen 2007;Doling et al 2013). In developed countries, the construction sector is viewed as a large contributor to economic activity and job creation.…”
Section: Housing Construction As An Economic Opportunity and Source Omentioning
confidence: 99%
“…The social development aspect of housing is recognized by Goal 11 of the 2030 agenda for sustainable development: "Make cities and human settlements inclusive, safe, resilient, and sustainable." The literature has established clear links between housing conditions and social outcomes, including health, social belonging, education outcomes, social security, and satisfaction with living conditions (Doling et al 2013;Thomson and Pettigrew 2005). Using data from the Demographic and Health Surveys and the Mo Ibrahim Foundation, we find a clear positive correlation (0.32) in Africa, between the percentage of households living in poor-quality housing and the rates of child mortality ( Fig.…”
Section: Housing Deficits In Africa: a Human Right And Social Developmentioning
Owning a decent house is still an unattainable goal for many African households. The lack of affordable housing finance, high costs of urban land and weak tenure security, rising construction costs, and prevalence of slums are major challenges to efforts to alleviate the continent’s housing crisis. This chapter provides the reader with a comprehensive overview of the continent’s housing market dynamics. In particular, the chapter shows the importance of the housing sector in African economies. It identifies the key constraints to the sector’s development, and the outlook for the market, as well as opportunities and bottlenecks in terms of governance.
“…At diff erent times, governments of developed countries have played active roles in the housing sector for economic growth and development reasons. A housing sector may support poverty reduction and inclusive growth through its contribution to economic output, employment, generation of a demand for materials and related services, and improved standard of living of occupants (Doling, Vandenberg and Tolentino, 2013). However, uneven and unplanned urban growth usually place pressure on resources and limit the capacity to deliver housing and related infrastructural services (UN-Habitat, 2014).…”
Housing is considered as one of the cardinal measures of the state of an economy. This paper employed data-based evidence to explore housing sector-economic growth relationship in Nigeria during 1980-2015. Choice variables were real estate business services (REBS), building construction investments (BCI), property rights index (PRI) and human labor (L) engaged in the sector. Anchored on perceived interactions among the variables, articulated conceptual model preceded an analytic model modifi ed from the endogenous growth model of economic theory. Graphical and econometric techniques were employed to analyze the data sets on the variables for trends in time series values of the variables; and the effects of the housing sector variables on growth of the economy. The results showed that housing services delivery had long-run relationship and signifi cantly spurred growth of the economy. Further, housing services delivery and growth of the economy had high speed adjustment coeffi cient to long-run equilibrium growth path under stable structural housing sector services delivery and appropriate human labor mix participation. Therefore, the paper concluded that housing services enhanced growth of the economy, and emphasized the need for appropriate human, capital and fi nancial policies for the sector to engender sustainable growth and development of the Nigerian economy.
“…Thailand, China, Philippine can be viewed as the newcomer in the housing mortgage market. Mortgage debt just possess a couple segment of their GDP (Doling et al 2013). Excluding US, Japan has the biggest home loan market.…”
Section: Introductionmentioning
confidence: 99%
“…Except Japan, there is an increase in the population growth over the past 20 years. (Doling et al 2013). Table 3 Mortgage market as percentage of GDP in Asia (Kobayashi 2012) 4.3 Hong Kong The Conveyancing and Property Ordinance (Cap 219) was gazette in 1997.…”
Since the mid-1970s, at least six banking crises correlated with housing bubbles. When housing prices reach the peak or fall sharply, financial crises occur. In some places, housing is an economic growth driver and corner stone of social stability. Whilst mortgage finance plays indispensable role financial system stability, regulations provide useful framework in governing the rules of games for many homeowners. Well or poor design of mortgage regulations often affects economy from this perspective. History tells many of the changes in regulations are due to the major economic incidents. In this paper, we aim to study the evolution of mortgage finance regulation in Japan,
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