What Have African Housing Policies Wrought?

REAL ESTATE ECONOMICS, Vol. 24 No. 2

Posted: 19 Jun 1998

See all articles by Stephen Malpezzi

Stephen Malpezzi

University of Wisconsin at Madison

Jarjisu Sa-Aadu

University of Iowa - Department of Finance

Abstract

This paper is a review of contemporary African housing markets, particularly the consequences of current housing policies. Overall, we conclude that the resource allocation which results from the current housing policies are quite contrary to their intended objectives. Many of the policies are suspect, both in terms of underlying economic rational and realistic economic achievement. In many respects, these policies have discouraged housing investment, and have been both inequitable and distortional. In rethinking these policies, our prescription is that since the private sector has efficiently provided the majority of the housing in the past, African governments must disengage themselves from direct production of housing. They must deregulate the housing markets and provide the right incentives, so as to realign the risks and rewards of investment in housing and permit private production to flourish.

JEL Classification: R31, R38

Suggested Citation

Malpezzi, Stephen and Sa-Aadu, Jarjisu, What Have African Housing Policies Wrought?. REAL ESTATE ECONOMICS, Vol. 24 No. 2, Available at SSRN: https://ssrn.com/abstract=9062

Stephen Malpezzi (Contact Author)

University of Wisconsin at Madison ( email )

5257 Grainger Hall
Madison, WI 53706
United States
608-262-6007 (Phone)
608-263-0477 (Fax)

Jarjisu Sa-Aadu

University of Iowa - Department of Finance ( email )

Iowa City, IA 52242-1000
United States
319-335-0929 (Phone)
319-335-3690 (Fax)

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