|RELATED TOPICS:||Poverty Reduction and Labor|
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This paper analyzes mortgage loan demand in Argentina using a new survey administered in the Buenos Aires Metropolitan Area. It finds that recurring macro volatility and violation of financial property rights have increased demand for real estate as an investment, which in turn boosts housing prices and makes it more difficult for consumer households to meet minimum income requirements for obtaining a mortgage. Affordability thus seems to offer a better explanation than standard supply side constraints for the small size of the mortgage market in Argentina. Overall, the shallow mortgage market has not posed a major impediment to home ownership in Argentina and the small (and shrinking) mortgage market has more to do with lack of demand than credit supply constraints.
This study analyzes the current situation of the rental market of Argentina. It is characterized by a growing percentage of households demanding houses for renting up to the point that, for first time in more than 50 years, the ownership rate dropped between population censuses. Tenants are middle and upper income families, as the poorest have increasingly owned and/or occupied substandard housing ... (View publication)
This study analyzes the main drivers of Argentina’s housing market, including demand and tenure choice, and relates them to the macroeconomic environment in order to advance a policy agenda for housing policy reform. Structural characteristics of the market include the high concentration of the urban population in a few large cities, the association of urban poverty with the housing deficit, and o ... (View publication)
This paper applies an analytical framework that identifies the types of market failures responsible for the underdevelopment of the housing finance system. The working hypothesis is that there is a correlation between the nature and scope of market failures, and the kind of public interventions actually implemented. Evidence seems to disprove the policy adequacy hypothesis. Nevertheless, it is enc ... (View publication)
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