The Financial Dimension

Kim Hawtrey
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Kim Hawtrey: Hope College

Chapter 3 in Affordable Housing Finance, 2009, pp 26-48 from Palgrave Macmillan

Abstract: Abstract The demand for housing finance comes from purchasers of dwellings. Because of the long-term and expensive nature of housing, buyers usually are not in a position to pay cash and therefore require an annuity mortgage. Long-term finance is therefore a critical component of the price of housing, which makes it different from most other commodities in the economy. House buyers fall into two categories: owner-occupiers who purchase to live in the dwelling and landlords who purchase in order to rent the dwelling. The latter includes governments, which purchase dwellings — existing or new — in order to rent them, usually at a below-market rental.

Keywords: Capital Market; House Price; Housing Market; Credit Market; Affordable Housing (search for similar items in EconPapers)
Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:pal:pmschp:978-0-230-24436-8_3

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DOI: 10.1057/9780230244368_3

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