000			02810nam a2200361Ia 4500
001			104343
003			0000000000
005			20211104001608.0
008			070907s2003 000 0 eng d
020			_a9715640435
040			_aAEA _cAEA _erda
050			_aHC 460 _b.B212 2003
100			_aBallesteros, Marife M. _943026
245		4	_aThe dynamics of housing demand in the Philippines : _bincome and lifecycle effects / _cMarife M. Ballesteros
264			_aMakati : _bPhilippines Institute for Development Studies, _c[2003];copyright 2003
300			_a74 pages : _billustrations _c23 cm
336			_atext _2rdacontent
338			_avolume _2rdacarrier
520			_a and third, innovative housing finance is limited and the microfinance schemes available suffer from liquidity problems and bureaucratic delays. Thus, government has to address the problems of housing in a broader context. The issues are not only confined in providing households income transfers through subsidies or in giving access to housing and security of tenure but also in looking at the larger issue of urban development.
520			_a second, there are few low-cost alternatives to homeownership in the formal market
520			_aThis paper examines the housing consumption pattern of Philippine households. Two basic issues are examined: one, how is housing demand associated with income and demographic changes? and two, does the housing consumption pattern of households suggest the presence of significant housing market imperfections or capital market imperfections in the country? The results show that while income is a major factor in housing demand, other factors such as lifecycle, price of housing, and financing availability also affect demand. Estimates of income elasticity show that the demand for housing is highly responsive to a change in income, but housing adjustments are confined to basic improvements in housing facilities with minimal change on tenure. The path toward acceptable housing is constrained due to several factors: first, the ratio of unit housing cost to income is rapidly rising
650			_aHousing policy _zPhilippines _2sears _989177
650			_aHousing _zPhilippines _2sears _967644
650			_aHousing _zPhilippines _2sears _967644
942			_cPIDS
999			_c67728 _d67728