|
Coming second? Secondary market development in developing countries: A case study
|
ABSTRACT
During the past decade, a number of developing countries have investigated, and some have embarked on, the process of establishing a secondary housing finance system, usually influenced by the United States model. Few have yet been proved successful. Based on the assessment that a secondary market offered a means of extending access to housing finance to lower-income groups, South Africa embarked on a pilot secondary market project in 1999. This article reviews the progress o...