Piyush Tiwari - Academia.edu (original) (raw)

Papers by Piyush Tiwari

Housing policy formulation should be informed by a careful understanding of the behaviour of the ... more Housing policy formulation should be informed by a careful understanding of the behaviour of the housing market, as reflected by housing demand. Such basic information is important, not only for improved project design but also for the development of better sector-wide policies. Housing is a complex outcome of cultural, economic and regulatory environment. Consistent estimates of price and income elasticity of housing demand are prerequisites for effective policy design. Results, from earlier studies on Japanese housing markets, are inconclusive and the estimates of price and income elasticity of housing demand vary over a wide range. It may be argued that measuring the volume of housing services as housing expenditure, as is done in previous research, essentially ignores the heterogeneity, and for large number of policy purposes like impact of tax on tenure choice, choice between owning and renting etc., the distribution of housing consumption into qualitatively different categorie...

In the absence of concise conceptualization of planning and land use management strategies, the s... more In the absence of concise conceptualization of planning and land use management strategies, the scope of their discussion in literature has been wide, with different nomenclature for almost similar concepts. This paper attempts to provide an overview of the models and tools used for land management by grouping these models and tools, known by different names across disciplines and countries, along a primarily urban or periurban development continuum. The objective is to streamline the discussion on land management strategies on the basis of principles on which models and tools are based rather than their nomenclature.

International Real Estate Review

We explore the effect of mortgage curtailment payments on subsequent default probabilities. Altho... more We explore the effect of mortgage curtailment payments on subsequent default probabilities. Although curtailment is not popular in western countries, it is the dominant form of prepayment in Asia. Using more than 6 years of mortgage performance records from an Asian bank, we investigate the impact of curtailment payments on mortgage default risk. The results of logistic regressions reveal that the cumulative curtailment is the most significant factor in predicting the future default probabilities of a seasoned mortgage pool. Thus, mortgage modeling for Asian countries should be different from mortgage modeling for western countries.

Land

A rapid increase in land and property values has been one of the driving forces of urban ecosyste... more A rapid increase in land and property values has been one of the driving forces of urban ecosystem development in many countries. This phenomenon has presented project proponents/policymakers with multiple options and associated challenges, nudging them to configure or incorporate elements of land-based financing in their policies and legislations. Specifically, the Government of India and various state governments have sought to monetize land through diverse instruments, for augmenting the financial viability of infrastructure and area development projects. This paper compares Indian central and state infrastructure policies/acts with regard to land monetization strategies. The analysis indicates that policies and legislations are taking a turn towards promoting land monetization mechanisms as a financing tool for cities and project implementation agencies. However, the approach is cautiously used and implementation is often seen to fall behind actual project timelines. Based on th...

Journal of Property Investment & Finance

PurposeThis paper examines the extent of the short-run relationship between Australian real estat... more PurposeThis paper examines the extent of the short-run relationship between Australian real estate investment trusts (A-REITs) and direct real estate returns on both a commercial property sector and a prime and secondary grade basis, i.e. a subsector basis.Design/methodology/approachTwo-step methodology is used. First, we identify the dynamic interdependencies between A-REITs and each commercial property subsector to determine whether the returns of A-REITs lead each subsector or vice versa. Second, short-run deviations between these asset returns are estimated by measuring their individual response behaviours to changes in key economic and financial market factors that are expected to influence these returns.FindingsResults suggest that each subsector shares a unique relationship to A-REITs, given each prime and secondary grade commercial property return series varies in behaviour. Some property subsector returns can be predicted by movements in A-REIT returns, whereas returns for ...

SSRN Electronic Journal

Agriculture is the most important aspect of human life whose importance cannot be ignored at any ... more Agriculture is the most important aspect of human life whose importance cannot be ignored at any stage, many advancementsare made in the field of agriculture in the past five decades according to need around the globe, Agriculture is not a single chapter program there are various steps present from sowing of seed to harvesting of crop. In India farmers are still using the traditional methods of farming by which they mostly face financial loss, low profit from their crop and sometimes food crisis, these traditional methods requires a lot of hardship and time and results from them are mostly not up to the mark, different types of machinery and technology are introduced to the farmers of India from time to time but most of them are not accepted because sometimes they are not user-friendly, or they are not affordable. The proposed paper throws light on the designing and working of low cost easy to operate eco-friendly crop harvester which runs on battery and uses DC motor to rotate the blades of the prototype, the speed of the blades are adjustable according to the need, by this prototype an effort is made to reduce the hardship of Indian farmers by eliminating the role of sickle.

Property Management

Purpose The purpose of this paper is to understand the factors that affect the performance of pro... more Purpose The purpose of this paper is to understand the factors that affect the performance of projects being implemented on the public-private partnership (PPP) framework, with specific reference to urban drinking water sector in India. Design/methodology/approach A listing of factors that have a bearing on project performance have been developed based on a review of the literature. Through a survey, seven factors that are relevant to the Indian context were determined. Interviews were then conducted across a cross-section of government agencies, financial institutions, development agencies, private sector entities and consultants to understand the relative importance of these attributes. The analytical hierarchy process was used to develop relative weights of these factors. Findings Ranking and relative weights of the factors in descending order are stakeholder consent and support for water PPP projects (22.1 percent), appropriate project structure (17.4 percent), availability of r...

Property Management

Purpose Property often forms the biggest component of household wealth and assets. Irrespective o... more Purpose Property often forms the biggest component of household wealth and assets. Irrespective of landowners’ willingness, the act of compulsory acquisition abruptly ceases the security that this ownership carries. This often induces dissatisfaction among affected landowners over the: loss of “property rights”; loss of commodity, or property; and loss of future opportunities associated with the property. Though there have been attempts in various land acquisition laws and a practice to compensate acquirees for their loss, the dissatisfaction of acquirees has persisted. The persisting resistance of landowners compels deeper insight into the process of compulsory purchase and the compensation mechanism to understand underlying causes for resistance. The purpose of this paper is to investigate the extent of involvement of these different stakeholders, at various stages in the compulsory purchase process, using stakeholder interaction analysis. Results obtained from this research will be helpful in identifying the gaps in the process of compulsory purchase of land for public projects in Australia. Design/methodology/approach A survey of ten different stakeholder groups has been conducted to inquire the level of interaction of different stakeholders at various stages of compulsory purchase process. A comparative study was then performed to identify the gaps between the advocated process (suggested in the literature) and the process adopted by stakeholders. Findings The results illustrate that: affected landowners seek involvement at the initial stage when the project plan is under preparation and compulsory purchase declaration are not finalised; objectors (from the public) seek opportunities to convey, to the public agency, their views even though the accountability of public agencies towards this stakeholder is nil; and strong interactions are established during negotiation over the compensation amount thus signifying the urge of acquirer and acquirees to avoid monetary losses and time delays. Originality/value This research will be useful in identification of pain points in the compulsory purchase process for public projects. This shall help in evolution of fairer mechanism of land acquisition.

International Journal of Housing Markets and Analysis

PurposeHomeownership has been the main focus of housing policies in most countries. Typical means... more PurposeHomeownership has been the main focus of housing policies in most countries. Typical means that households use to achieve homeownership is to take out a loan and supplement this with accumulated wealth for a downpayment. This paper aims to analyze the mortgage demand behavior of households in the UK, Australia and Japan.Design/methodology/approachUsing three panel data sets, HILDA for Australia, KHPS for Japan and USS for the UK, the paper estimates three equations using ordinary least squares: mortgage demand function, housing demand function and initial loan to value ratio function.FindingsThough homeownership is a preferred tenure and the mortgages are “recourse” loans, housing markets in these three countries operate in different mortgage market institutional structures. Results indicate that income elasticity of mortgage demand differ despite income elasticity of housing demand being similar. Different mortgage institutions in countries that pose constraints for borrower...

Book of Abstracts: 2005 European Real Estate Society conference in association with the International Real Estate Society - Dublin, Ireland

Initial downpayment for home ownership could prove to be a binding constraint for households aspi... more Initial downpayment for home ownership could prove to be a binding constraint for households aspiring to be homeowners. Households in Japan require 30 to 45% of the house value as downpayment. This not only affects their decision on the timing of homeownership but also has significant influence on the type of house they would eventually buy. Higher initial wealth positioning can ease the choice and timing of homeownership. Households often inherit wealth in the form of cash either to buy house or land or to construct a house from their parents. Proceeds from the sale of already possessed real estate also helps in building downpayment for household's desired house. Using survival analysis, the paper estimates the roles that the intergenerational wealth transfer and possession of real estate has played in the timing of homeownership in Japan. The data used in this paper is from the Ministry of Infrastructure, Land and Transportation survey on household home finance conducted during 1988 to 1995. By comparing the timing of homeownership for households who do not have the privilege of either inheritance or possession of real estate with those households who have had either of these forms of wealth, the paper estimates by how many years the homeownership is advanced for the privileged households.

Proceedings of the 19th Annual European Real Estate Society Conference - Edinburgh, Scotland

The period of study, from 2000 to 2010, was a decade of turbulence in the American residential re... more The period of study, from 2000 to 2010, was a decade of turbulence in the American residential real estate market. The time period witnessed a sharp increase in property prices from 2000 to 2006 followed by a sharp decline after the 2007 sub-prime crisis in most markets in the US. The objective of this study is to estimate the value attributed to waterfront and golf course view amenities as they are revealed in the market through transactions over this time period. A related question that is examined is how the value of these amenities have shifted (implying buyers and sellers preferences) during different phases of the real estate cycle. A spatial hedonic price model estimates prices for 589 vacant lots that were sold in a lakefront community of Lake Keowee, South Carolina. In addition, a geographic information system (GIS) is used to construct a number of spatial variables for the model. Results indicate that some economic relationships break down in the post-bubble frame suggesting that buyers become more discriminating in a post-bubble market. Specifically, two key measures break down: out of state buyers no longer pay a higher premium than in-state buyers and prices (and sales) for non-premium properties are negatively affected to a proportionately greater extent. This study illustrates the need for both spatial and temporal granularity in hedonic modeling, particularly if the study includes periods of speculative booms or crashes.

Artha Vijnana: Journal of The Gokhale Institute of Politics and Economics

The paper uses an input-output framework to calculate energy intensities for different sectors in... more The paper uses an input-output framework to calculate energy intensities for different sectors in Indian economy. The overall energy intensity has declined during 1983-1990. A decomposition model analyses the causes for this change. The energy demands have been projected for year 2002. In this paper impacts of output changes and energy price changes have also been analyzed.

International Real Estate Economics, 2010

International Real Estate Economics, 2010

Contextualising International Real Estate Markets Theorising International Real Estate 1 Theorisi... more Contextualising International Real Estate Markets Theorising International Real Estate 1 Theorising International Real Estate 2 Property Market Activity Institutions in Real Estate Service Provision European Real Estate Markets Property Markets in Asia-Pacific Real Estate Markets in North America Property Markets in Latin America Towards an Internationalised Real Estate Market

Development Paradigms for Urban Housing in BRICS Countries, 2016

Following discussions in earlier chapters this one adds another dimension by utilizing Sen’s capa... more Following discussions in earlier chapters this one adds another dimension by utilizing Sen’s capability approach to ask whether housing as a good has created capability for individuals (defined by the functionings of being well-sheltered and having financial security) in the countries studied. Depriving individuals of these functionings is a failure on the part of the country's institutions, which have not been able to convert the characteristics of housing good into capability. This also allows countries to be compared, institutional arrangements analyzed and outcomes evaluated. This chapter illustrates how all these countries have failed to provide a well-sheltered society. The nature of this deprivation, though, differs: in Brazil it is measured as housing quantity and quality; in Russia in terms of housing quality; India shows deprivation in the form of quantity and quality; while China's problems relate to affordability and quality.

Development Paradigms for Urban Housing in BRICS Countries, 2016

Brazil has a shortage of seven million housing units, made greater by the large proportion of hou... more Brazil has a shortage of seven million housing units, made greater by the large proportion of households living in informal housing. Historical political and economic ideological developments have had a profound impact on housing in the country. The political trajectory, rapid socio-cultural transformation from rural to urban society, economic development and institutional changes have all contributed to the state of housing. This chapter presents a comprehensive review of housing in Brazil and critically analyzes housing outcomes and institutions. What is important in the case of Brazil is that the country’s institutional capacity to provide housing and the development of housing programs and supporting legislation at state and municipal levels have improved over time. New programs allocating subsidies for the poor have been set up. Legal, technical, and institutional capabilities have been enhanced and public participation plays a greater role in the allocation of funds for the poor. These measures ensure that social housing policy now contributes more strongly toward enhancing living conditions in the country.

Development Paradigms for Urban Housing in BRICS Countries, 2016

Addressing inadequate housing requires a combination of processes involving improvement in all th... more Addressing inadequate housing requires a combination of processes involving improvement in all the following systems: market, institutional, financial, legal, economic, demographic, planning, and social. Different chapters in this book present alternative development perspectives on urban housing in the context of Brazil, Russia, India, China, and South Africa. Together these economies have contributed over 50 percent of world economic growth over the last three years and over 60 percent to urban population growth during the last decade. The trend is expected to continue. About a third of the urban population of cities in developing countries lives in slums. A large proportion of the increase in population in those cities is expected to live in slums. This chapter presents a conceptual framework within which “housing for all” can be analyzed in BRICS countries. Despite high and sustained GDP growth rates, the vast majority of citizens in these countries continue to live in substandard housing. The framework presented here allows for comparison and stresses integration—an alignment of the economic, legal, planning, and financial systems and a clear mapping of the requirements—tenure mix.

Tiwari/Real Estate Finance in the New Economy, 2014

Housing policy formulation should be informed by a careful understanding of the behaviour of the ... more Housing policy formulation should be informed by a careful understanding of the behaviour of the housing market, as reflected by housing demand. Such basic information is important, not only for improved project design but also for the development of better sector-wide policies. Housing is a complex outcome of cultural, economic and regulatory environment. Consistent estimates of price and income elasticity of housing demand are prerequisites for effective policy design. Results, from earlier studies on Japanese housing markets, are inconclusive and the estimates of price and income elasticity of housing demand vary over a wide range. It may be argued that measuring the volume of housing services as housing expenditure, as is done in previous research, essentially ignores the heterogeneity, and for large number of policy purposes like impact of tax on tenure choice, choice between owning and renting etc., the distribution of housing consumption into qualitatively different categorie...

In the absence of concise conceptualization of planning and land use management strategies, the s... more In the absence of concise conceptualization of planning and land use management strategies, the scope of their discussion in literature has been wide, with different nomenclature for almost similar concepts. This paper attempts to provide an overview of the models and tools used for land management by grouping these models and tools, known by different names across disciplines and countries, along a primarily urban or periurban development continuum. The objective is to streamline the discussion on land management strategies on the basis of principles on which models and tools are based rather than their nomenclature.

International Real Estate Review

We explore the effect of mortgage curtailment payments on subsequent default probabilities. Altho... more We explore the effect of mortgage curtailment payments on subsequent default probabilities. Although curtailment is not popular in western countries, it is the dominant form of prepayment in Asia. Using more than 6 years of mortgage performance records from an Asian bank, we investigate the impact of curtailment payments on mortgage default risk. The results of logistic regressions reveal that the cumulative curtailment is the most significant factor in predicting the future default probabilities of a seasoned mortgage pool. Thus, mortgage modeling for Asian countries should be different from mortgage modeling for western countries.

Land

A rapid increase in land and property values has been one of the driving forces of urban ecosyste... more A rapid increase in land and property values has been one of the driving forces of urban ecosystem development in many countries. This phenomenon has presented project proponents/policymakers with multiple options and associated challenges, nudging them to configure or incorporate elements of land-based financing in their policies and legislations. Specifically, the Government of India and various state governments have sought to monetize land through diverse instruments, for augmenting the financial viability of infrastructure and area development projects. This paper compares Indian central and state infrastructure policies/acts with regard to land monetization strategies. The analysis indicates that policies and legislations are taking a turn towards promoting land monetization mechanisms as a financing tool for cities and project implementation agencies. However, the approach is cautiously used and implementation is often seen to fall behind actual project timelines. Based on th...

Journal of Property Investment & Finance

PurposeThis paper examines the extent of the short-run relationship between Australian real estat... more PurposeThis paper examines the extent of the short-run relationship between Australian real estate investment trusts (A-REITs) and direct real estate returns on both a commercial property sector and a prime and secondary grade basis, i.e. a subsector basis.Design/methodology/approachTwo-step methodology is used. First, we identify the dynamic interdependencies between A-REITs and each commercial property subsector to determine whether the returns of A-REITs lead each subsector or vice versa. Second, short-run deviations between these asset returns are estimated by measuring their individual response behaviours to changes in key economic and financial market factors that are expected to influence these returns.FindingsResults suggest that each subsector shares a unique relationship to A-REITs, given each prime and secondary grade commercial property return series varies in behaviour. Some property subsector returns can be predicted by movements in A-REIT returns, whereas returns for ...

SSRN Electronic Journal

Agriculture is the most important aspect of human life whose importance cannot be ignored at any ... more Agriculture is the most important aspect of human life whose importance cannot be ignored at any stage, many advancementsare made in the field of agriculture in the past five decades according to need around the globe, Agriculture is not a single chapter program there are various steps present from sowing of seed to harvesting of crop. In India farmers are still using the traditional methods of farming by which they mostly face financial loss, low profit from their crop and sometimes food crisis, these traditional methods requires a lot of hardship and time and results from them are mostly not up to the mark, different types of machinery and technology are introduced to the farmers of India from time to time but most of them are not accepted because sometimes they are not user-friendly, or they are not affordable. The proposed paper throws light on the designing and working of low cost easy to operate eco-friendly crop harvester which runs on battery and uses DC motor to rotate the blades of the prototype, the speed of the blades are adjustable according to the need, by this prototype an effort is made to reduce the hardship of Indian farmers by eliminating the role of sickle.

Property Management

Purpose The purpose of this paper is to understand the factors that affect the performance of pro... more Purpose The purpose of this paper is to understand the factors that affect the performance of projects being implemented on the public-private partnership (PPP) framework, with specific reference to urban drinking water sector in India. Design/methodology/approach A listing of factors that have a bearing on project performance have been developed based on a review of the literature. Through a survey, seven factors that are relevant to the Indian context were determined. Interviews were then conducted across a cross-section of government agencies, financial institutions, development agencies, private sector entities and consultants to understand the relative importance of these attributes. The analytical hierarchy process was used to develop relative weights of these factors. Findings Ranking and relative weights of the factors in descending order are stakeholder consent and support for water PPP projects (22.1 percent), appropriate project structure (17.4 percent), availability of r...

Property Management

Purpose Property often forms the biggest component of household wealth and assets. Irrespective o... more Purpose Property often forms the biggest component of household wealth and assets. Irrespective of landowners’ willingness, the act of compulsory acquisition abruptly ceases the security that this ownership carries. This often induces dissatisfaction among affected landowners over the: loss of “property rights”; loss of commodity, or property; and loss of future opportunities associated with the property. Though there have been attempts in various land acquisition laws and a practice to compensate acquirees for their loss, the dissatisfaction of acquirees has persisted. The persisting resistance of landowners compels deeper insight into the process of compulsory purchase and the compensation mechanism to understand underlying causes for resistance. The purpose of this paper is to investigate the extent of involvement of these different stakeholders, at various stages in the compulsory purchase process, using stakeholder interaction analysis. Results obtained from this research will be helpful in identifying the gaps in the process of compulsory purchase of land for public projects in Australia. Design/methodology/approach A survey of ten different stakeholder groups has been conducted to inquire the level of interaction of different stakeholders at various stages of compulsory purchase process. A comparative study was then performed to identify the gaps between the advocated process (suggested in the literature) and the process adopted by stakeholders. Findings The results illustrate that: affected landowners seek involvement at the initial stage when the project plan is under preparation and compulsory purchase declaration are not finalised; objectors (from the public) seek opportunities to convey, to the public agency, their views even though the accountability of public agencies towards this stakeholder is nil; and strong interactions are established during negotiation over the compensation amount thus signifying the urge of acquirer and acquirees to avoid monetary losses and time delays. Originality/value This research will be useful in identification of pain points in the compulsory purchase process for public projects. This shall help in evolution of fairer mechanism of land acquisition.

International Journal of Housing Markets and Analysis

PurposeHomeownership has been the main focus of housing policies in most countries. Typical means... more PurposeHomeownership has been the main focus of housing policies in most countries. Typical means that households use to achieve homeownership is to take out a loan and supplement this with accumulated wealth for a downpayment. This paper aims to analyze the mortgage demand behavior of households in the UK, Australia and Japan.Design/methodology/approachUsing three panel data sets, HILDA for Australia, KHPS for Japan and USS for the UK, the paper estimates three equations using ordinary least squares: mortgage demand function, housing demand function and initial loan to value ratio function.FindingsThough homeownership is a preferred tenure and the mortgages are “recourse” loans, housing markets in these three countries operate in different mortgage market institutional structures. Results indicate that income elasticity of mortgage demand differ despite income elasticity of housing demand being similar. Different mortgage institutions in countries that pose constraints for borrower...

Book of Abstracts: 2005 European Real Estate Society conference in association with the International Real Estate Society - Dublin, Ireland

Initial downpayment for home ownership could prove to be a binding constraint for households aspi... more Initial downpayment for home ownership could prove to be a binding constraint for households aspiring to be homeowners. Households in Japan require 30 to 45% of the house value as downpayment. This not only affects their decision on the timing of homeownership but also has significant influence on the type of house they would eventually buy. Higher initial wealth positioning can ease the choice and timing of homeownership. Households often inherit wealth in the form of cash either to buy house or land or to construct a house from their parents. Proceeds from the sale of already possessed real estate also helps in building downpayment for household's desired house. Using survival analysis, the paper estimates the roles that the intergenerational wealth transfer and possession of real estate has played in the timing of homeownership in Japan. The data used in this paper is from the Ministry of Infrastructure, Land and Transportation survey on household home finance conducted during 1988 to 1995. By comparing the timing of homeownership for households who do not have the privilege of either inheritance or possession of real estate with those households who have had either of these forms of wealth, the paper estimates by how many years the homeownership is advanced for the privileged households.

Proceedings of the 19th Annual European Real Estate Society Conference - Edinburgh, Scotland

The period of study, from 2000 to 2010, was a decade of turbulence in the American residential re... more The period of study, from 2000 to 2010, was a decade of turbulence in the American residential real estate market. The time period witnessed a sharp increase in property prices from 2000 to 2006 followed by a sharp decline after the 2007 sub-prime crisis in most markets in the US. The objective of this study is to estimate the value attributed to waterfront and golf course view amenities as they are revealed in the market through transactions over this time period. A related question that is examined is how the value of these amenities have shifted (implying buyers and sellers preferences) during different phases of the real estate cycle. A spatial hedonic price model estimates prices for 589 vacant lots that were sold in a lakefront community of Lake Keowee, South Carolina. In addition, a geographic information system (GIS) is used to construct a number of spatial variables for the model. Results indicate that some economic relationships break down in the post-bubble frame suggesting that buyers become more discriminating in a post-bubble market. Specifically, two key measures break down: out of state buyers no longer pay a higher premium than in-state buyers and prices (and sales) for non-premium properties are negatively affected to a proportionately greater extent. This study illustrates the need for both spatial and temporal granularity in hedonic modeling, particularly if the study includes periods of speculative booms or crashes.

Artha Vijnana: Journal of The Gokhale Institute of Politics and Economics

The paper uses an input-output framework to calculate energy intensities for different sectors in... more The paper uses an input-output framework to calculate energy intensities for different sectors in Indian economy. The overall energy intensity has declined during 1983-1990. A decomposition model analyses the causes for this change. The energy demands have been projected for year 2002. In this paper impacts of output changes and energy price changes have also been analyzed.

International Real Estate Economics, 2010

International Real Estate Economics, 2010

Contextualising International Real Estate Markets Theorising International Real Estate 1 Theorisi... more Contextualising International Real Estate Markets Theorising International Real Estate 1 Theorising International Real Estate 2 Property Market Activity Institutions in Real Estate Service Provision European Real Estate Markets Property Markets in Asia-Pacific Real Estate Markets in North America Property Markets in Latin America Towards an Internationalised Real Estate Market

Development Paradigms for Urban Housing in BRICS Countries, 2016

Following discussions in earlier chapters this one adds another dimension by utilizing Sen’s capa... more Following discussions in earlier chapters this one adds another dimension by utilizing Sen’s capability approach to ask whether housing as a good has created capability for individuals (defined by the functionings of being well-sheltered and having financial security) in the countries studied. Depriving individuals of these functionings is a failure on the part of the country's institutions, which have not been able to convert the characteristics of housing good into capability. This also allows countries to be compared, institutional arrangements analyzed and outcomes evaluated. This chapter illustrates how all these countries have failed to provide a well-sheltered society. The nature of this deprivation, though, differs: in Brazil it is measured as housing quantity and quality; in Russia in terms of housing quality; India shows deprivation in the form of quantity and quality; while China's problems relate to affordability and quality.

Development Paradigms for Urban Housing in BRICS Countries, 2016

Brazil has a shortage of seven million housing units, made greater by the large proportion of hou... more Brazil has a shortage of seven million housing units, made greater by the large proportion of households living in informal housing. Historical political and economic ideological developments have had a profound impact on housing in the country. The political trajectory, rapid socio-cultural transformation from rural to urban society, economic development and institutional changes have all contributed to the state of housing. This chapter presents a comprehensive review of housing in Brazil and critically analyzes housing outcomes and institutions. What is important in the case of Brazil is that the country’s institutional capacity to provide housing and the development of housing programs and supporting legislation at state and municipal levels have improved over time. New programs allocating subsidies for the poor have been set up. Legal, technical, and institutional capabilities have been enhanced and public participation plays a greater role in the allocation of funds for the poor. These measures ensure that social housing policy now contributes more strongly toward enhancing living conditions in the country.

Development Paradigms for Urban Housing in BRICS Countries, 2016

Addressing inadequate housing requires a combination of processes involving improvement in all th... more Addressing inadequate housing requires a combination of processes involving improvement in all the following systems: market, institutional, financial, legal, economic, demographic, planning, and social. Different chapters in this book present alternative development perspectives on urban housing in the context of Brazil, Russia, India, China, and South Africa. Together these economies have contributed over 50 percent of world economic growth over the last three years and over 60 percent to urban population growth during the last decade. The trend is expected to continue. About a third of the urban population of cities in developing countries lives in slums. A large proportion of the increase in population in those cities is expected to live in slums. This chapter presents a conceptual framework within which “housing for all” can be analyzed in BRICS countries. Despite high and sustained GDP growth rates, the vast majority of citizens in these countries continue to live in substandard housing. The framework presented here allows for comparison and stresses integration—an alignment of the economic, legal, planning, and financial systems and a clear mapping of the requirements—tenure mix.

Tiwari/Real Estate Finance in the New Economy, 2014