Global: Understanding how housing and land markets work

What are the effects of policy on housing supply? Is the public sector good at producing, owning and financing housing? What impact do land market regulations have on housing affordability? Are arguments about the benefits of market-oriented and private sector approaches valid? These questions are examined in a paper from the World Bank which condenses lessons from recent research. The authors report that while some of the benefits of market approaches have been exaggerated, they are delivering welfare gains for poor people. They suggest that the common view that just establishing effective property rights will necessarily have a widespread developmental impact is exaggerated.