USING SUBSIDY TO INCREASE HOUSING STOCK
The
provision of affordable housing is one of the biggest problems of any
Government. Though most Governments prefer to shy away from this; yet the
problem stares at them.
One
of the major reasons for the “look-the-other-way” by Governments is believed to
be the lack of effective Housing Finance Model which would facilitate increase
in housing stock and easy access by prospective beneficiaries.
This
write-up would present a Model which, hopefully, would encourage Governments to
invest in Social Housing as a social infrastructure to address the enormous
Housing Deficit challenges.
For
better clarity of the Model, a subsidized housing project undertaken by the
Akwa Ibom
State Government, Nigeria, in about 1998/1999 would be used as a
Case-Study. It would compare the subsidy model used then with what we are proposing.