Is Housing Unaffordable? Why Isn't It More Affordable?

Quigley, John M.; Raphael, Steven

doi:10.1257/089533004773563494

Cited by 358 publications

(242 citation statements)

References 21 publications

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“…Ülkelerin mevcut konut piyasaları ele alındığında; ortalama gelir düzeyindeki hane halklarının aylık gelirlerinin çeyreği kadarını konut harcaması için ayırdığı, düşük gelir grubuna giren hane halklarının ise aylık gelirlerinin yarı-sı kadarını konut harcamalarına ayırmak zorunda kaldığı görülmektedir (Quigley and Raphael, 2004). Bu nedenle hane halklarının aylık gelirleri ile aylık konut maliyetleri arasında oranlama yöntemine başvurulması gerekliliği ortaya çıkmaktadır.…”

Section: Karşılanabilir Konut Sunumuunclassified

Affordable Housing Provision: A Case Study of TOKI Ankara Kusunlar Low-Income Housing

Aslan¹,

Güzey²

2015

J Ank Stud

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Section: Karşılanabilir Konut Sunumuunclassified

Affordable Housing Provision: A Case Study of TOKI Ankara Kusunlar Low-Income Housing

Aslan¹,

Güzey²

2015

J Ank Stud

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“…30%), and less than one-fifth of urban households in Indonesia were in an unaffordable situation in 2007 (Badan Pusat Statistik, 2007). Although this metric of affordability increased between 2001 and 2007, it is still quite low; for example, in comparison to the United States where in the year 2000 more than 40 percent of renter households spent more than 30 percent of their income on rent (Quigley and Raphael, 2004).…”

Section: Housing Production In Indonesiamentioning

confidence: 99%

Urban land-use regulations and housing markets in developing countries: Evidence from Indonesia on the importance of enforcement

Monkkonen¹

2013

Land Use Policy

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a b s t r a c tStandard urban economic theory suggests that stringent urban land-use regulation leads to higher housing prices due to both direct impacts on costs and a reduction in the price elasticity of supply. Indonesia has one of the most restrictive land registration and construction permitting systems in Asia, yet housing is affordable, rates of household formation are high, and housing supply is relatively elastic. This paper explores the relationship between land use regulations and housing markets in Indonesia through various analyses; an overview of 90 cities, a direct assessment of the relationship in 15 cities, and detailed case studies of two medium-sized cities. Regulations do impact the production of housing in Indonesia, but they do not affect housing markets in the predicted way because of their flexible enforcement and a widespread and dynamic informal housing-production system. The main impact of the strict landuse regulations in Indonesia is thus argued to be under investment in physical infrastructure related to housing; a substantial detriment to urban development and economic growth. The case of Indonesia demonstrates the importance of regulatory enforcement and local context in the analysis of land use regulations.

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“…The Federal Reserve Bank of Minneapolis apparently estimated that reductions of 200 basis points on the interest rates on the mortgages that GSEs finance would be required to raise the homeownership rate by 0.5%. There seems to be some truth in this point, as homeownership rates on average increased ''only'' five percentage points in 40 years, from 61% in 1960 to 66% in 2000 (Quigley and Raphael 2004). …”

Section: Who Benefits From Securitization By Fannie Mae and Freddie Mac?mentioning

confidence: 99%

Subsidization as motor to residential mortgage securitization in the US

Haffner

2008

J Hous and the Built Environ

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Residential mortgage securitization on the secondary mortgage market in the United States has grown enormously since 1970. This contribution describes the growth, especially the growth of the large special circuit housing finance system within the secondary mortgage market. Fannie Mae and Freddie Mac are at the heart of it. Different housing finance systems are introduced first in order to position the system of securitization. The technicalities of securitization are then briefly covered, before the focus shifts to the development of residential mortgage securitization in the United States. The reasons for expansion of the secondary mortgage market are traced, and especially of Fannie Mae and Freddie Mac and the benefits they offer to homeowners and the buyers of securities. The success of securitization by Fannie Mae and Freddie Mac does not seem to be based on a miracle of competition in the housing finance market, but largely on regulation and subsidization of these organizations. Nowadays, the question has become whether the undesired effects of this large part of the housing finance market outbalance the desired effects.

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Is Housing Unaffordable? Why Isn't It More Affordable?

Cited by 358 publications

References 21 publications

Affordable Housing Provision: A Case Study of TOKI Ankara Kusunlar Low-Income Housing

Affordable Housing Provision: A Case Study of TOKI Ankara Kusunlar Low-Income Housing

Urban land-use regulations and housing markets in developing countries: Evidence from Indonesia on the importance of enforcement

Subsidization as motor to residential mortgage securitization in the US

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