Mexico - Low Income Housing : Issues and Options, Volume 2. Background Studies
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 u...
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| Online Access: | http://documents.worldbank.org/curated/en/2002/09/2017566/mexico-low-income-housing-issues-options-vol-2-2-background-studies http://hdl.handle.net/10986/15357 |
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okr-10986-153572021-04-23T14:03:14Z Mexico - Low Income Housing : Issues and Options, Volume 2. Background Studies World Bank 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 LOW INCOME LOW INCOME HOUSING PRIVATE SECTOR URBAN DEVELOPMENT 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. 2013-08-26T21:48:02Z 2013-08-26T21:48:02Z 2002-09-16 http://documents.worldbank.org/curated/en/2002/09/2017566/mexico-low-income-housing-issues-options-vol-2-2-background-studies http://hdl.handle.net/10986/15357 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Washington, DC Latin America & Caribbean Mexico |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
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 LOW INCOME LOW INCOME HOUSING PRIVATE SECTOR URBAN DEVELOPMENT |
| spellingShingle |
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 LOW INCOME LOW INCOME HOUSING PRIVATE SECTOR URBAN DEVELOPMENT World Bank Mexico - Low Income Housing : Issues and Options, Volume 2. Background Studies |
| geographic_facet |
Latin America & Caribbean Mexico |
| description |
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. |
| author |
World Bank |
| author_facet |
World Bank |
| author_sort |
World Bank |
| title |
Mexico - Low Income Housing : Issues and Options,
Volume 2. Background Studies |
| title_short |
Mexico - Low Income Housing : Issues and Options,
Volume 2. Background Studies |
| title_full |
Mexico - Low Income Housing : Issues and Options,
Volume 2. Background Studies |
| title_fullStr |
Mexico - Low Income Housing : Issues and Options,
Volume 2. Background Studies |
| title_full_unstemmed |
Mexico - Low Income Housing : Issues and Options,
Volume 2. Background Studies |
| title_sort |
mexico - low income housing : issues and options,
volume 2. background studies |
| publisher |
Washington, DC |
| publishDate |
2013 |
| url |
http://documents.worldbank.org/curated/en/2002/09/2017566/mexico-low-income-housing-issues-options-vol-2-2-background-studies http://hdl.handle.net/10986/15357 |
| _version_ |
1764427037279256576 |