Mexico - Low Income Housing : Issues and Options,
Volume 1. Main Report
This report evaluates the shortcomings
of current housing policies, and provides a framework for
analysis of alternative policies. Its message is threefold:
First, housing has a significant role in terms of basic
social support, where the housing unit is a source of
capital accumulation, thus a key to expanding Mexico's
middle class, from a minority to a majority. Second, the
country is facing a two-tiered housing market, those that
can afford formal housing, and the near majority who are not
served by current federal programs. Third, the housing
finance system has amalgamated into multiple institutions,
with unclear accountability, and divergent criteria for
subsidized credit. The report further reviews the
significant challenges facing housing demand, supply, and
government intervention, stating that in the absence of
viable alternatives, many Mexicans households are
under-housed, and suffer from insecure tenure, crowding, and
poor quality of housing. This weakness exacerbates poverty,
by limiting capital formation, and the role of shelter in
improving the asset base of the poor, and, adversely impacts
the national economy. The country requires a substantial
program of support for low-income housing over the next two
decades. In the formal market, reform is necessary to
increase effectiveness of current programs so as to open the
market to a wider range of private mortgage originators, and
investors. And, given the limited fiscal capacity,
trade-offs between the scope and depth of support to
different segments of the market must be made. Public
financial support to the middle market should be
incrementally withdrawn, and focused more directly to the
poor, requiring a coordinated strategy among public and
quasi-public housing agencies to strengthen the market,
where a major role for the new Housing Commission would be
to oversee implementation of such strategy. Moreover,
demand-side subsidies are necessary to support the poor, as
well as norms and practices adjusted to foster progressive housing.
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Bibliographic Details
| Main Author: |
World Bank |
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| Language: | English
en_US |
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| Published: |
Washington, DC
2002-09-16
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| Subjects: | HOUSING FINANCE,
LOW-INCOME HOUSING,
POLICY FRAMEWORK,
HOUSING AFFORDABILITY,
CAPITAL ACCUMULATION,
MIDDLE INCOME,
HOUSING MARKET,
FEDERAL FUNDS MARKETS,
SUBSIDIZED HOUSING PROGRAMS,
DEMAND-SIDE FINANCING,
HOUSING TENANTS,
HOUSING QUALITY STANDARDS,
REFORM POLICY,
OPEN MARKET OPERATIONS,
MORTGAGE MARKETS,
INVESTOR PROTECTION,
FISCAL CONSTRAINTS,
PUBLIC FINANCE,
HOUSING FOR THE POOR,
PUBLIC-PRIVATE PARTNERSHIPS,
SUBSIDIES ACCOUNTABILITY,
CAPITAL MARKETS,
CASH FLOWS,
COMMERCIAL BANKS,
COMMERCIAL CREDIT,
CONSOLIDATION,
CONSTRUCTION,
CREDIT RISK,
DECENTRALIZATION,
DEPOSITS,
ELECTRICITY,
EXTERNALITIES,
FINANCIAL INSTITUTIONS,
FINANCIAL MARKETS,
FINANCIAL PRACTICE,
FINANCIAL SERVICES,
FISCAL DISCIPLINE,
FISCAL POLICIES,
FISCAL YEAR,
FORECLOSURES,
GARBAGE COLLECTION,
GOVERNMENT INTERVENTION,
GOVERNMENT INTERVENTIONS,
HOME EQUITY,
HOMEOWNERSHIP,
HOUSES,
HOUSING,
HOUSING DEMAND,
HOUSING FINANCE SECTOR,
HOUSING FINANCE SYSTEM,
HOUSING INDICATORS,
HOUSING LOANS,
HOUSING MARKETS,
HOUSING POLICIES,
HOUSING PRICES,
HOUSING SUBSIDIES,
HOUSING SUPPLY,
INFLATION,
INTEREST RATES,
INTERNATIONAL FINANCE,
LABOR UNIONS,
LAND DEVELOPMENT,
LAND PRICES,
LAND SUPPLY,
LAND TAXES,
LARGE CITIES,
LEGAL FRAMEWORK,
LEGISLATION,
LOCAL GOVERNMENT,
LOCAL GOVERNMENTS,
MBS,
METROPOLITAN AREAS,
MORTGAGE,
MORTGAGE FINANCE,
MORTGAGE LENDING,
MORTGAGE LOANS,
MORTGAGE MARKET,
MORTGAGES,
MUNICIPAL GOVERNMENT,
MUNICIPAL INFRASTRUCTURE,
MUNICIPAL SERVICES,
MUNICIPALITIES,
PENSION FUNDS,
PORTFOLIO PERFORMANCE,
POSITIVE EXTERNALITIES,
PRIVATE BANKS,
PRIVATE HOUSING,
PRIVATE SECTOR,
PRIVATE SECTOR PARTICIPATION,
PROPERTY RIGHTS,
PUBLIC AGENCIES,
PUBLIC HOUSING,
PUBLIC INVESTMENT,
PUBLIC INVOLVEMENT,
PUBLIC POLICY,
PUBLIC RESOURCES,
PUBLIC SECTOR,
PUBLIC SERVICES,
REAL ESTATE,
REGULATORY FRAMEWORK,
RENTAL HOUSING,
RENTS,
RESOURCE MOBILIZATION,
RISK MANAGEMENT,
ROADS,
SAVINGS,
SECURITIES,
TAX,
TECHNICAL ASSISTANCE,
TIME DEPOSITS,
TRANSPARENCY,
TREASURY,
URBAN DEVELOPMENT,
URBAN INFRASTRUCTURE,
URBAN MANAGEMENT,
URBAN SERVICES,
URBANIZATION,
WAGES, |
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| Online Access: | http://documents.worldbank.org/curated/en/2002/09/2017565/mexico-low-income-housing-issues-options-vol-1-2-main-report
https://hdl.handle.net/10986/15366
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