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The Financial Dimension

In: Affordable Housing Finance

Author

Listed:
  • Kim Hawtrey

    (Hope College)

Abstract

The demand for housing finance comes from purchasers of dwellings. Because of the long-term and expensive nature of housing, buyers usually are not in a position to pay cash and therefore require an annuity mortgage. Long-term finance is therefore a critical component of the price of housing, which makes it different from most other commodities in the economy. House buyers fall into two categories: owner-occupiers who purchase to live in the dwelling and landlords who purchase in order to rent the dwelling. The latter includes governments, which purchase dwellings — existing or new — in order to rent them, usually at a below-market rental.

Suggested Citation

  • Kim Hawtrey, 2009. "The Financial Dimension," Palgrave Macmillan Studies in Banking and Financial Institutions, in: Affordable Housing Finance, chapter 3, pages 26-48, Palgrave Macmillan.
    • Handle: RePEc:pal:pmschp:978-0-230-24436-8_3
    DOI: 10.1057/9780230244368_3
    as

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