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 u...

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Bibliographic Details
Main Author: World Bank
Language:English
en_US
Published: Washington, DC 2013
Subjects:
MBS
TAX
Online Access:http://documents.worldbank.org/curated/en/2002/09/2017565/mexico-low-income-housing-issues-options-vol-1-2-main-report
http://hdl.handle.net/10986/15366
id okr-10986-15366
recordtype oai_dc
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 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
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
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 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
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
World Bank
Mexico - Low Income Housing : Issues and Options, Volume 1. Main Report
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 1. Main Report
title_short Mexico - Low Income Housing : Issues and Options, Volume 1. Main Report
title_full Mexico - Low Income Housing : Issues and Options, Volume 1. Main Report
title_fullStr Mexico - Low Income Housing : Issues and Options, Volume 1. Main Report
title_full_unstemmed Mexico - Low Income Housing : Issues and Options, Volume 1. Main Report
title_sort mexico - low income housing : issues and options, volume 1. main report
publisher Washington, DC
publishDate 2013
url http://documents.worldbank.org/curated/en/2002/09/2017565/mexico-low-income-housing-issues-options-vol-1-2-main-report
http://hdl.handle.net/10986/15366
_version_ 1764427067574714368
spelling okr-10986-153662021-04-23T14:03:14Z Mexico - Low Income Housing : Issues and Options, Volume 1. Main Report 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 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 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 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. 2013-08-27T14:46:53Z 2013-08-27T14:46:53Z 2002-09-16 http://documents.worldbank.org/curated/en/2002/09/2017565/mexico-low-income-housing-issues-options-vol-1-2-main-report http://hdl.handle.net/10986/15366 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Washington, DC Latin America & Caribbean Mexico