Ethnicity Housing: Accommodating the Differences by Frederick W Boal

Author:Frederick W Boal [Boal, Frederick W]
Language: eng
Format: epub
ISBN: 9780415791991
Barnesnoble:
Publisher: Taylor & Francis
Published: 2019-11-04T00:00:00+00:00

Government involvement

When the mass immigration started the government expected the private sector to respond to the new housing needs with a large scale construction of housing. But the private sector was reluctant to take the risk. It was made clear that there is a strong distinction to be made between Needs and Demand. The penniless immigrants were not able to transform their needs to an active demand. Thus, at least in the first phase, the government had to carry the risks. From 1990 till mid-1992 most of the additional housing was either financed directly or indirectly — with purchase guarantees — by the government.

Only at the end of 1992, when the immigrants commenced employment, were they able to utilise the soft loans (with government subsidy) and thereby appeared in growing numbers as a demand element in the housing market.

On the supply side the volume of private sector production consistently expanded to meet demand and in time took over from the public sector.

The conclusion is clear: Government must take most of the risk at the initial stages of a national effort to provide mass housing.

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