Housing access has important implications for the economy and society. Lack of affordable housing for essential workers close to the inner city restricts labour supply and housing instability harms the educational prospects of children. The absence of fully developed pricing benchmarks for accessible housing places a corner solution on capital market efficiency. Research to date into affordable housing finance has been scattered and unsystematic. Moreover, there has been insufficient cross-fertilization of ideas between countries. This book outlines the nature of 'housing stress' and explains why capital markets need to be an essential part of the solution. It considers new investment tools, provides case studies, and concludes with directions for future research and policymaking.
KIM HAWTREY is Professor of Economics at Hope College Michigan, USA. Previously, he was Chief Economist at Colonial Bank, Australia, and Economic Advisor with the Reserve Bank, Australia. He serves on the editorial board of the Finsia Journal of Applied Finance, and chaired the Affordable Housing National Research Consortium, a peak policy committee of CEOs from leading housing industry bodies.
List of TablesList of FiguresGlossary of TermsPrefaceIntroductionHousing Stress: Nature, Causes and ConsequencesThe Financial DimensionAffordable Housingfinance in the USAffordable housingfinance in the UKAffordable housingfinance in AustraliaCapital Market SolutionsRetail Finance SolutionsPublic Sector SolutionsFuture DirectionsReferencesIndex