Markets and housing finance

Warnock, Veronica Cacdac; Warnock, Francis E.

doi:10.1016/j.jhe.2008.03.001

Cited by 169 publications

(151 citation statements)

References 23 publications

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“…We think different housing types can reflect residential differentiation to some extent because housing symbolizes a social class of urban residents [21]. Housing in China was tightly controlled and characterized by a strong link between housing allocation and place of employment (and status within the workplace) under China's planned economy [22].…”

Section: Introductionmentioning

confidence: 99%

Residential Spatial Differentiation Based on Urban Housing Types—An Empirical Study of Xiamen Island, China

et al. 2017

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Abstract:Residential spatial differentiation, also called residential segregation, is a representation of the differentiation of social stratum in economic income, social status, education degree, lifestyle, and other aspects, based on an urban geographical space. In this paper, Xiamen Island is taken as example to calculate the dissimilarity index and the multi-group dissimilarity index at three scales (districts, sub-districts, and communities) by using the land area, population size, and green space area of different housing types. The characteristics of residential differentiation are analyzed. It is found that both spatial differentiation and multi-group spatial differentiation have significant scale effects. The smaller the scale of the spatial statistics unit, the larger the spatial differentiation and multi-group spatial differentiation. Significant differences are found in residential differentiation among different housing types. The residential differentiation is, not only demonstrated in land area and population size, but also in the resources of green space. More importantly, a balanced allocation of green space will help to reduce the degree of residential differentiation. With urban expansion and social-economic development, residential spatial differentiation will likely change. An understanding of residential differentiation is a guide for urban master planning and detailed regulatory planning. It will help to promote social harmonious development and urban sustainable development by the reasonable configuration of land and resources.

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Section: Introductionmentioning

confidence: 99%

Residential Spatial Differentiation Based on Urban Housing Types—An Empirical Study of Xiamen Island, China

et al. 2017

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“…Market forces and government intervention (Warnock and Warnock, 2008) determine the specific size of each of the housing tenures. There are two major factors that influence the level of housing supply and the responsiveness of supply to changes in prices (Ball, Goody, Meen, and Nygaard, 2011), the first factor is the fixed supply of land and the requirement to allocate it among a number of economic and social uses i.e.…”

Section: Discussion Of Resultsmentioning

confidence: 99%

Economic and Innovative Factors Influence on Funding of the Supply-Side of Housing in Nairobi, Kenya

Kanjumba

2017

BMS

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Housing impact on an economy is undisputed. Economic factors comprising market forces, cost of inputs, the macro economy and the cost of funding are one set of factors that impacts on the funding of the supply-side of housing. Financiers' reactionary actions to encourage uptake of credit is undertaken by use of innovation and technology. This paper sets to establish the relationships between both economic and innovative factors, and funding of the supply-side of housing in Kenya and also the moderating effect of the major stakeholders. Using an explanatory form of approach in research design a survey was conducted using questionnaires to collect data from a random sample of 212 branches in Nairobi of financial institutions drawn from a population of 43 commercial banks, 9 deposit-taking MFIs and three major financiers of housing. Factor analysis, correlation analysis and ordinal logit regression were used to determine the relationships. A negative relationship between economic factors and funding of housing was found, while innovative financing and technological factors were found to have no influence. A positive moderating effect of stakeholders on the relationships between both economic factors, and innovative financing and technological factors on one side, and funding of housing was established. The implication being that economic factors play a bigger role in impacting housing and a stable economy is conducive in encouraging investments in housing, with government acting more as an enabler. Innovative financing and technology act as facilitators only.

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“…Hence, housing finance is often used as an instrument to boost the nation's economy during recession and to regulate the economy during recovery period. Warnock and Warnock (2008) shows that Malaysia has the preeminent housing finance system in the emerging Asia countries.…”

Section: Malaysian Housing Financementioning

confidence: 99%

“…In Malaysia, the present operation of the market may be far from efficient (Agus 1997;Warnock, Warnock 2008). The transaction of houses is complex where the value of a house is determined before the actual unit is completed.…”

Section: Introductionmentioning

confidence: 99%

Inter-Relationship Between the Housing Market and Housing Finance System: Evidence From Malaysia

Said

Adair

McGreal

et al. 2014

International Journal of Strategic Property Management

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ABSTRACT. The Malaysian housing market and associated housing finance system have expanded significantly as a result of rapid urbanisation since the late 1980s. The key aspect of this paper is to analyse the inter-relationship between the housing market and housing finance system in Malaysia. The paper employs Vector Autoregressive approach and Granger Causality test to empirically investigate this inter-relationship. In Malaysia, no housing studies has actually looked into or used this approach to identify the inter-relationship between these two elements. The key findings show that there is a strong inter-relationship between the housing market and housing finance system. The direction of causality shows that there is a bi-directional relationship between the housing market and housing finance system. These inter-relationships provide evidence that sound performance of the sub-markets within the housing finance system is a determinant prerequisite of the robustness of the housing finance system, if a healthy performance of the housing market is to be achieved. KEYWORDS:

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Markets and housing finance

Cited by 169 publications

References 23 publications

Residential Spatial Differentiation Based on Urban Housing Types—An Empirical Study of Xiamen Island, China

Residential Spatial Differentiation Based on Urban Housing Types—An Empirical Study of Xiamen Island, China

Economic and Innovative Factors Influence on Funding of the Supply-Side of Housing in Nairobi, Kenya

Inter-Relationship Between the Housing Market and Housing Finance System: Evidence From Malaysia

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