Understanding Housing Finance: Meeting Needs and Making Choices / Edition 2

Understanding Housing Finance: Meeting Needs and Making Choices / Edition 2

by Peter King
     
 

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ISBN-10: 0415432952

ISBN-13: 9780415432955

Pub. Date: 02/09/2009

Publisher: Taylor & Francis

One of the biggest challenges for students of housing is understanding the financial principles which underpin the place of housing in the wider economy. By taking a political economy approach, Peter King's
Understanding Housing Finance makes the basic principles of the subject accessible, without requiring detailed prior knowledge of economics or

Overview

One of the biggest challenges for students of housing is understanding the financial principles which underpin the place of housing in the wider economy. By taking a political economy approach, Peter King's
Understanding Housing Finance makes the basic principles of the subject accessible, without requiring detailed prior knowledge of economics or financial systems.

The book explains housing finance by exploring the way in which markets and governments react together. It takes a conceptual approach to consider the advantages and limits of housing markets and why governments intervene. The consequences of intervention are explored in detail using examples of housing subsidy systems and policy mechanisms such as rent control, housing allowances and subsidies to owner occupation.

This is a key reference for students on housing and planning courses at both undergraduate and postgraduate level. The book's approach means that its relevance is not confined to one particular housing system, but is useful for those studying housing finance in most developed and developing countries.

Product Details

ISBN-13:
9780415432955
Publisher:
Taylor & Francis
Publication date:
02/09/2009
Pages:
192
Product dimensions:
0.62(w) x 0.92(h) x 0.50(d)

Table of Contents

List of tables ix

Preface xi

1 Understanding housing finance 1

A nightmare 1

What do we mean by 'housing finance'? 3

Why do we need housing finance? 5

Quality and access 6

A political approach to housing finance 7

A simple model of complex systems 9

Understanding housing finance 11

Further reading 12

2 Need, choice and responsibility 13

Introduction 13

Need 17

Choice 26

Responsibility 32

Conclusions 37

Further reading 37

3 The importance of markets 39

Introduction 39

What are markets? 41

Prices 45

Property rights 50

The nature of housing 58

The nature of housing markets 61

Conclusions 67

Further reading 68

4 Government action 69

Introduction 69

What is government? 72

What can government do? 76

Housing subsidies 79

The purpose of object subsidies 83

Arguments for subject subsidies 87

What is social housing for? 91

Do subsidies mean sustainable housing? 94

Unintended consequences 95

Conclusions 97

Further reading 98

5 Influencing markets 99

Introduction 99

The overriding political importance of owner occupation 103

Subsidies to owner occupation 107

The most successful housing policy of all? 108

Economic stability and government intervention 110

Controlling rents: an example of unintended consequences 114

Decontrolling rents: another example of unintended consequences 119

Housing allowances: the creation of incentives 121

Conclusions 127

Further reading 127

6 Controlling housing 129

Introduction 129

The accountability of social housing 132

Value for money 135

Controlling social housing 137

Private finance 143

Funding new social housing 144

What is the future role ofsocial housing? 148

Social housing and risk 152

Conclusions 155

Further Reading 156

7 Complexity and choice 157

Notes 165

Bibliography 167

Index 173

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