SHELTER POLICY AND FINANCE: RETROSPECTIVE OVERVIEW1
Housing finance is both the servant and the master of the housing process. The finance available fits into the general policy framework in that it enables the construction of housing within the wider supply context current at the time. It also drives the process: reductions in finance affect the scale of supply and allocation among groups supplying and demanding housing. In times when centralized control is politically dominant, finance is likely to be directed at governments and their agencies. Decentralization directs finance to smaller units, concentrating more on local authorities than on central governments. In times when nongovernmental organizations (NGOs) are trusted above ...