Housing Finance Policy Under Dutch Disease Pressure: The Mortgage Market in Trinidad and Tobago

53 Pages Posted: 8 Jan 2012

See all articles by Sebastian Auguste

Sebastian Auguste

University of Michigan at Ann Arbor - Department of Economics

Ramiro Moya

affiliation not provided to SSRN

Sandra Sookram

University of the West Indies (Saint Augustine)

Date Written: December 2011

Abstract

This work analyzes housing finance in Trinidad and Tobago during the last 20 years. The period covered is influenced by an economic bonanza led by the energy sector. Housing prices in this period skyrocketed, but the demand for mortgage loans was low. The results suggest that this is explained by affordability problems in the dynamics of the new post-shock equilibrium, as housing prices increased more rapidly than wages. Public housing finance also played a role, but in recent times it has been more prudently managed than during the previous boom of the 1970s.

JEL Classification: N96, R2, R28

Suggested Citation

Auguste, Sebastian and Moya, Ramiro and Sookram, Sandra, Housing Finance Policy Under Dutch Disease Pressure: The Mortgage Market in Trinidad and Tobago (December 2011). IDB Working Paper No. IDB-TN-302. Available at SSRN: https://ssrn.com/abstract=1981540 or http://dx.doi.org/10.2139/ssrn.1981540

Sebastian Auguste (Contact Author)

University of Michigan at Ann Arbor - Department of Economics ( email )

611 Tappan Street
Ann Arbor, MI 48109-1220
United States

Ramiro Moya

affiliation not provided to SSRN

No Address Available

Sandra Sookram

University of the West Indies (Saint Augustine) ( email )

Saint Augustine
Trinidad and Tobago

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