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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, sometimes without title. The lack of a mortgage market after 2001 explains the surge of the rental market. Given the increase in rents, some groups were more adversely affected. Other features affecting the supply and demand in this market are also analyzed.
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)
This paper tests the extent of competition in the housing market in Santiago, Chile using a two-step methodology. In the first step, using a hedonic price model, the Santiago housing market is divided into sub-markets, which are analyzed separately. The second step is the tacit collusion test itself, which compares the industry markup with the business cycle in each sub-market using panel data reg ... (View publication)
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