Housing Institutions

Sock-Yong Phang

Chapter 7 in Housing Finance Systems, 2013, pp 82-96 from Palgrave Macmillan

Abstract: Abstract The previous chapters on “taxes and subsidies” and “market regulation” considered market-based instruments which are utilized to solve the problem of market failure. In this chapter, we examine housing institutions that are established and owned by the government in order to facilitate the flow of financial and other resources into the housing sector. Governments may set up housing institutions as a strategic instrument, particularly when there is a need to grow an embryonic market and/or where there is a gap in the coverage of provision. There are many variants of state-owned housing institutions that differ in scale, powers and scope — driven by financial policies and shaped by the local environment and its evolution. These include public housing authorities as well as government housing banks. Some agencies operate in the retail housing finance market, others in the wholesale market with or without regulatory powers. Some are specialized housing banks, yet others are part of a universal commercial bank. Some combine retail housing loan services with real estate developer functions. Others are state-owned enterprises competing in the same market space as private housing developers or commercial banks.

Keywords: Public Housing; Mortgage Loan; Housing Finance; Mortgage Payment; Mortgage Insurance (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-01403-0_7

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DOI: 10.1057/9781137014030_7

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